Array BioPharma announced the achievement of a $10 million clinical research milestone in its development collaboration with Novartis. This milestone was reached after Novartis reported the first patient visit in a Phase 2 clinical trial of MEK162. The open-label study will evaluate the safety and efficacy of MEK162 in patients with malignant cutaneous melanoma, harboring BRAFV600E or NRAS mutations. The study is designed to measure objective response rate and will also evaluate progression free survival, safety, and tolerability in patients receiving MEK162 orally. The agreement between Array and Novartis for joint development of MEK162 and other MEK inhibitors was announced in April 2010. Array, based in Boulder, Colorado, received an initial payment of $45M and is eligible for additional payments of more than $400M if additional clinical, regulatory, and commercial milestones are reached. The full press release is available here.
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