PARIS (19 November 2015) – Array BioPharma Inc. and Pierre Fabre announced their collaboration to globally develop and commercialize Array’s two late-stage oncology molecules: binimetinib and encorafenib. Pierre Fabre has long been successfully committed to the research and development of new medications and develops products for patients afflicted with lung, breast and other solid tumors and hematological cancers.
Under the terms of the agreement, Array will receive an upfront payment of $30 million and retains exclusive commercialization rights for binimetinib and encorafenib in the United States, Canada, Japan, Korea and Israel. Pierre Fabre will have exclusive rights to commercialize both products in all other countries, including Europe, Asia and Latin America. Array is entitled to receive up to $425 million if certain development and commercialization milestones are achieved, and is eligible for robust double-digit royalties on future sales. Array and Pierre Fabre have agreed to share the future costs of development on a 60/40 basis (Array/Pierre Fabre) with the initial commitment to fund new clinical trials in colorectal cancer and melanoma. All ongoing clinical trial for binimetinib and encorafenib will continue to be substantially funded by Novartis until they are completed.
Pierre Fabre Oncology, a business unit of the Pierre Fabre Company, employs more than 1,000 employees with a particularly strong presence in European markets. In 2014, its sales exceeded $200 million due to the strength of its brands Oral Navelbine, Javlor and Busilvex.
Attorneys in McDermott Will & Emery’s Paris and Brussels offices, Emmanuelle Trombe, Anthony Paronneau, Bertrand Delafaye and Mélanie Bruneau, Anne-France Moreau and David Henry, teamed up to represent Pierre Fabre Oncology.
“This is yet another example of a global life science company turning to the McDermott life science team for a complex and critical transaction”, commented Byron Kalogerou, head of the firm’s life science industry group.
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