Clovis, Array partner on GI research, drug

BOULDER – Biopharmaceutical company Clovis Oncology Inc. will help develop a gastrointestinal cancer-treatment compound currently in the research phase at biopharmaceutical company Array BioPharma Inc., according to a press statement.

Financial terms of the collaboration were not disclosed between Clovis (Nasdaq: CLVS) and Array (Nasdaq: ARRY), both based in Boulder.

Once the research reaches the point where it’s considered viable, Clovis expects to take over development, said Breanna Burkart, a spokeswoman.

Clovis may file investigational new drug documents with the U.S. Food and Drug Administration within the next three years, Patrick Mahaffy, president and chief executive of Clovis, said in the press statement.…