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Array BioPharma Grants InterMune Expanded Rights Under Hepatitis C Discovery Agreement
BOULDER, Colo. -- Array BioPharma Inc. announced that it has expanded the intellectual property rights granted to InterMune, Inc. relating to certain compounds discovered under their existing hepatitis C (HCV) drug discovery collaboration agreement that was established in September 2002. Array will receive a one-time payment of $2,500,000 from InterMune in exchange for these expanded rights. All other economic terms under this agreement remain unchanged.
In addition, under the terms of a new agreement, Array has granted InterMune an exclusive option through March 31, 2005 to access Arrays small molecule drug discovery platform for targets of interest to InterMune in hepatology. Should InterMune select a new target, Array would be entitled to receive research funding as well as potential future milestone payments and royalties under this second collaboration.
Source: Array BioPharma Inc.