Loxo Winner: Array's Cancer Pact Valued as High as $434M
Newly formed by the venture firm Aisling Capital, Loxo Oncology Inc. has entered a deal with Array Biopharma Inc. to advance a preclinical candidate developed by Array and to find more small-molecule drugs for oncology targets.
The arrangement could mean as much as $434 million in milestone payments as well as royalties on any resulting products for Boulder, Colo.-based Array, which also received shares of Loxo as part of the deal.
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