Array BioPharma Licenses Cancer Drug ARRY-543 to ASLAN Pharmaceuticals

ASLAN Pharmaceuticals Pte Ltd and Array BioPharma Inc. ARRY today announced a license agreement to develop Array's HER2 / EGFR inhibitor, ARRY-543, currently entering Phase 2 development for solid tumors. Under the agreement, ASLAN will fund and globally develop ARRY-543 through proof of concept, initially targeting patients with gastric cancer through a development program conducted in Asia. Upon achievement of proof of concept, ASLAN will identify a global partner for phase 3 development and commercialization. Array will share a significant portion of the proceeds of such partnering transaction. The agreement also includes an option for the two parties to negotiate to license a second undisclosed compound.