On July 13, 2011 ASLAN Pharmaceuticals and Array BioPharma reported a license agreement to develop Array’s HER2 / EGFR inhibitor, ARRY-543, currently entering Phase 2 development for solid tumors (Press release ASLAN Pharmaceuticals, JUL 13, 2011, View Source [SID:1234500466]).
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.

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