May 31, 2017 / 8:08 AM / 8 months ago

BRIEF-Ono Pharmaceutical concludes a license agreement with array biopharma related to MEK inhibitor and BRAF inhibitor

May 31 (Reuters) - Ono Pharmaceutical Co Ltd

* Says it concluded a license agreement with Array Biopharma Inc. to develop and commercialize binimetinib, a MEK inhibitor and encorafenib, a BRAF inhibitor, in Japan and South Korea.

* Says Binimetinib and encorafenib are currently in two global Phase III trials for the treatment of patients with BRAF-mutant melanoma (COLUMBUS study) and BRAF-mutant colorectal cancer (BEACON CRC study) as a combination therapy.

* Under the terms of the agreement, ONO will pay to Array an upfront payment of 3.5 billion yen and milestones up to 17.3 billion yen and other expenses

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Further company coverage: (Beijing Headline News)

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