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Array BioPharma Hits Milestone

Boulder, Colorado-based Array BioPharma is reporting today that it has hit a milestone that triggered a $1M payment from AstraZeneca to Array. The firm is developing small molecule biopharmaceuticals targeted at cancer. AstraZeneca and Array are codeveloping anti-cancer drugs, used to treat lung, pancreatic, colon, melanoma and thyroid cancer. Array BioPharma is backed by ARCH Venture Partners, Boulder Ventures, Falcon Technology Partners, Frazier Healthcare Ventures, and Rovent Limited Partnership.