Collaboration to create a series of small molecule drugs leads against a Takeda target

Array BioPharma Inc. today announced the commencement of a drug discovery collaboration with Takeda Chemical Industries, Ltd. to create a series of small molecule drug leads against a Takeda target. This collaboration is in addition to Array's existing research agreement with Takeda that began in 2001.

"We are very impressed with Array's track record of success in creating small molecule drug candidates," said Takashi Soda, Ph.D., General Manager, Pharmaceutical Research Division, Takeda Chemical Industries. "Through this new collaboration, we hope to enhance our R&D pipeline by utilizing Array's drug discovery platform."

Takeda will pay fees to Array based on the number of Array scientists working on the research phase of the agreement. Array will be entitled to receive success payments based on reaching certain development milestones and royalties based upon the sales of products resulting from the collaboration. Other terms were not announced.

"We are delighted to continue our work with the internationally recognized pharmaceutical company, Takeda," said Kevin Koch, President and Chief Scientific Officer, Array BioPharma. "We view Takeda's continued interest in partnering with Array as validation of our ability to create high quality clinical candidates."

Array began working with Takeda in September 2001 and was charged with creating a series of small molecule drug leads against a Takeda target. In August 2003, Array received a milestone payment for accomplishing this goal. Today, Array continues development on this program.

About Array:

Array is creating the next generation of orally active drugs by integrating the latest advances in chemistry, biology and informatics. Our drug development pipeline is focused primarily in cancer and inflammatory disease and includes several promising small molecule drugs that regulate well-validated targets in therapeutically valuable disease pathways. Array collaborates with leading pharmaceutical and biotechnology companies to design, create and optimize drug candidates across a broad range of therapeutic areas. For more information on Array, please go to www.arraybiopharma.com.

About Takeda:

Takeda is a research-based global company with its main focus on pharmaceuticals. As the largest pharmaceutical company in Japan and one of the industry's leaders worldwide, Takeda is committed to strive toward better health for individuals and progress in medicine by developing superior pharmaceutical products. Takeda is actively dedicated to enhance its pipeline for future growth through alliance as well as in-house R&D activities. For more information on Takeda, please visit the company's web site at www.takeda.com.