Array BioPharma Inc. and Pierre Fabre have entered a collaboration to globally develop and commercialize Array’s late-stage oncology products, binimetinib and encorafenib. Binimetinib, a MEK inhibitor, and encorafenib, a BRAF inhibitor, are currently in Phase III trials for melanoma and ovarian cancer. The agreement is subject to European Commission review and approval.
 
Array will receive $30 million upfront and retains exclusive commercialization rights for binimetinib and encorafenib in the U.S., Canada, Japan, Korea and Israel. Pierre Fabre will have exclusive rights to both products in all other countries, including Europe, Asia and Latin America. Array is eligible to receive $425 million based on development and commercialization milestones, as well as royalties. The companies will share future development costs on a 60:40 basis (Array:Pierre Fabre) with initial funding committed for new clinical trials in colorectal cancer and melanoma. All ongoing binimetinib and encorafenib trials remain substantially funded through completion by Novartis.
  
“In Pierre Fabre we selected a partner with a European and emerging market focus in oncology to develop and commercialize binimetinib and encorafenib in these geographies,” said Ron Squarer, chief executive officer, Array BioPharma. “With Phase 3 trials approaching data readouts, and over 30 additional Phase 1/2 trials underway, we are confident that binimetinib and encorafenib are well positioned for near-term regulatory submissions and significant commercial value.”
 
“Pierre Fabre is strongly committed to develop and commercialize oncology products,” said Frederic Duchesne, chief executive officer, Pierre Fabre Pharmaceuticals. “This partnership with Array is aligned with our growth strategy in Pharmaceuticals, our geographic footprint, and our corporate mission to bring to the market novel oncology products which address unmet patient needs. Binimetinib and encorafenib will fit perfectly with our broad expertise in oncology and dermatology, and will strengthen our current portfolio and international presence.”