Boulder, CO (Press Release) - Array BioPharma Inc. (NASDAQ: ARRY) announced a strategic col­lab­o­ration with Celgene Corpo­ra­tion for an Array-invented pre­clin­i­cal devel­op­ment pro­gram targeting a novel inflam­ma­tion path­way.  Under the terms of the agree­ment Array will receive an up-front payment of $11 million and Celgene will have an exclusive option to license multiple clin­i­cal devel­op­ment can­di­dates. Array is entitled to receive poten­tial mile­stone payments of up to $376 million based upon achieving certain devel­op­ment, regu­la­tory and sales objectives. Array is also entitled to receive royalties on net sales of all drugs and will retain all rights to the pro­gram if Celgene does not exercise its option.

"We are pleased to announce this new col­lab­o­ration with Celgene focused on a novel inflammation path­way," said Kevin Koch, Ph.D., Pres­i­dent and Chief Scientific Officer, Array BioPharma. "Given Celgene's glob­al leadership and expertise in the devel­op­ment and com­mer­cial­iza­tion of inno­va­tive ther­a­pies and Array's solid track record of inventing and progressing targeted drugs into clin­i­cal trials, we believe this alli­ance will maximize the value of a very exciting and inno­va­tive pro­gram."

About Celgene

Celgene Corpo­ra­tion, headquartered in Summit, New Jersey, is an integrated global bio­pharma­ceu­tical com­pany engaged primarily in the discovery, devel­op­ment and com­mer­cial­iza­tion of novel ther­a­pies for the treat­ment of cancer and inflammatory diseases through gene and protein reg­u­la­tion. For more in­for­ma­tion, please visit the Company's website at www.celgene.com.

About Array BioPharma

Array BioPharma Inc. is a bio­pharma­ceu­tical com­pany focused on the discovery, devel­op­ment and commer­cialization of targeted small molecule drugs to treat patients afflicted with cancer. Array is evolving into a late-stage devel­op­ment com­pany and cur­rently ex­pec­ts sig­nif­i­cant progress to­ward generating data to sup­port our upcoming Phase 3 / pivotal trial de­ci­sions.   Novartis began a Phase 3 trial eval­u­ating Array-invented MEK162 in NRAS-mutant mela­noma in July 2013 and ex­pec­ts to begin a Phase 3 trial in BRAF-mutant mel­anoma in 2013.  In addi­tion, Array began a Phase 3 trial eval­u­ating MEK162 in low-grade serous ovarian cancer under the license agree­ment with Novartis in June 2013.  AstraZeneca began a pivotal trial with Array-invented selumetinib in thyroid cancer in May 2013 and ex­pec­ts to begin a Phase 3 trial in non-small cell lung cancer in 2013.  Three other Array-invented drugs are also ap­proach­ing Phase 3 or pivotal trial de­ci­sions which are ex­pec­ted by the end of 2013. These in­clude Array's wholly-owned drugs, ARRY-520 and ARRY-614, and one partnered pro­gram, danoprevir (with InterMune/Roche).  For more in­for­ma­tion on Array, please go to www.arraybiopharma.com.

Array BioPharma Forward-Looking Statement:

This press release con­tains forward-looking state­ments within the meaning of the Private Securities Liti­gation Reform Act of 1995, in­­clud­ing state­ments about future plans to progress and develop the pro­gram licensed to Celgene under the Agreement, the achieve­ment of devel­op­ment, regu­la­tory and sales objectives resulting in mile­stone payments to Array, the poten­tial to earn royalties on future sales of any drugs that may be approved for market­ing and the poten­tial for the results of ongoing pre­clin­i­cal and clin­i­cal trials to sup­port regu­la­tory approval or the market­ing success of a drug can­di­date. These state­ments involve sig­nif­i­cant risks and un­cer­tain­ties, in­­clud­ing those discussed in the most recent annual report filed on Form 10-K, quarterly reports filed on Form 10-Q, and other reports filed by Array with the Securities and Exchange Com­mis­sion. Because these state­ments reflect current ex­pec­ta­tions concerning future events, actual results could differ materially from those antic­i­pated in these forward-looking state­ments as a result of many factors. These factors in­clude, but are not limited to, the ability of Array and Celgene to con­tinue to fund and suc­cess­fully progress research and devel­op­ment efforts with respect to the licensed pro­gram; risks to Array asso­ci­ated with dependence on Celgene for the clin­i­cal devel­op­ment and com­mer­cial­iza­tion of the licensed pro­gram; the ability to effectively and timely conduct clin­i­cal trials in light of in­creas­ing costs and dif­fi­culties in locating appro­pri­ate trial sites and in enrolling patients who meet the criteria for certain clin­i­cal trials; and risks asso­ci­ated with dependence on third-party service providers to suc­cess­fully conduct clin­i­cal trials within and outside the United States. Array is providing this in­for­ma­tion as of July 29, 2013 and under­takes no duty to update any forward-looking state­ments to reflect the occurrence of events or cir­cum­stances after the date of such state­ments or of antic­i­pated or unanticipated events that alter any assump­tions under­lying such state­ments.

Source: Array BioPharma.