Tuesday, March 13, 2007
Array BioPharma, VentiRx In License Deal
Boulder, Colorado-based Array BioPharma and San Diego-based VentiRx Pharmaceuticals said this morning that the two companies are in a license agreement. VentiRx has been granted exclusive worldwide rights to Array's Toll-like receptor (TLR) program. Array BioPharma's program targets oncology and allergy therapeutics. Financial terms were not disclosed, however, Array will receive an equity stake in VentiRx plus milestone payments and royalties.