Array BioPharma cashes in on deal with Oncothyreon

BOULDER – A new deal with a Seattle pharmaceutical company will bring Boulder-based Array Biopharma Inc. (Nasdaq: ARRY) $20 million up front and the potential for significant milestone and royalty payments related to the breast cancer drug ONT-380.

Array has granted Oncothyreon Inc. (Nasdaq: ONTY) exclusive license to develop, manufacture and commercialize the drug, replacing a previous agreement between the two companies in which they were jointly developing ONT-380.

ONT-380, invented at Array, has so far shown positive results in patients with advanced metastatic breast cancer. The drug, going through Phase 1 trials now, is in the earlier stages of development and…