Amgen, Array BioPharma enter development agreement for Type 2 diabetes drugs

12/16/2009

THOUSAND OAKS, Calif. Amgen has obtained exclusive rights to a program for investigational Type 2 diabetes drugs, the biotech company announced.

Amgen will pay Array BioPharma $60 million upfront plus milestone payments for the program, which covers a class of pharmaceutical drugs called glucokinase activators and includes ARRY-403, currently in phase 1 clinical trials.

Array will be responsible for completing the ARRY-403 trial and will have the option to co-promote the drug in the United States, while Amgen will be responsible for future clinical development and commercialization for the drug.

“Type 2 diabetes affects over 20 million Americans, and its incidence is increasing at an alarming rate,” Amgen EVP research and development Roger Perlmutter said. “We are pleased to be collaborating with Array BioPharma in this arena and are excited about the potential of this glucokinase activator.”

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