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Business
Array Cuts Staff, Regains Drug Rights
by Lisa M. Jarvis
August 19, 2013
| A version of this story appeared in
Volume 91, Issue 33
Array BioPharma is cutting 20% of its staff, or about 50 jobs, following a setback to its partnership with Amgen. Buried in its fiscal year-end results was news that Amgen had returned the rights to ARRY-403, also known as AMG-151, a glucokinase activator that recently completed Phase IIa studies for the treatment of diabetes. In 2009, Amgen paid Array $60 million up front for access to ARRY-403, and the partners agreed to develop second-generation compounds. As part of that deal, Amgen funded a number of full-time scientists at the Boulder, Colo.-based biotech firm to support the research program.
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