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Array BioPharma Inc. (ARRY) achieved a research milestone in its collaboration with Genentech Inc. (DNA).

Boulder, Colo., biopharmaceutical company Array said the milestone resulted from the nomination of a clinical candidate and advancement into regulated safety assessment testing.

The company said it is entitled to additional undisclosed milestone payments and potential royalties from Genentech based upon continued success of the program.

The companies initiated an oncology collaboration in January 2004 to identify small-molecule development compounds against multiple targets.

-Adam Kuczynski; 201-938-5400;
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