These excerpts taken from the ARRY 10-K filed Aug 15, 2008.
VentiRx - VTX-2337 & VTX-1463 / Toll-Like Receptor (TLR-8) Program
In February 2007, we entered into a licensing and collaboration agreement with privately held biopharmaceutical company VentiRx, under which we granted VentiRx exclusive worldwide rights to certain molecules from our toll-like receptor, or TLR, program. The program contains a number of compounds targeting TLRs to activate innate immunity. VentiRx expects to develop its first two candidates in cancer and allergy. We received an equity stake in VentiRx as well
as an up-front payment, potential milestone payments and royalties on product sales. We retain an option to acquire a 50 percent ownership position in each VentiRx clinical oncology products developed under this agreement.
During fiscal 2008, VentiRx reported the following progress on the program:
· VentiRx filed an IND application on VTX-2337 for the treatment of cancer, and patients are expected to be enrolled in the Phase I trial during the second half of calendar 2008.
· VentiRx advanced VTX-1463 into regulated safety assessment testing for treatment of allergy, with an IND expected to be filed in calendar 2009.
During fiscal 2009, we will continue to collaborate with VentiRx on back-up molecules.
VentiRx - VTX-2337 & VTX-1463 / Toll-Like Receptor
In February 2007, we
as an up-front payment,
During fiscal 2008,
· VentiRx filed an IND application on VTX-2337 for the treatment of
· VentiRx advanced VTX-1463 into regulated safety assessment testing for
During fiscal 2009, we