May 31 (Reuters) - Ono Pharmaceutical Co Ltd
* Says it concluded a license agreement with Array Biopharma Inc. to develop and commercialize binimetinib, a MEK inhibitor and encorafenib, a BRAF inhibitor, in Japan and South Korea.
* Says Binimetinib and encorafenib are currently in two global Phase III trials for the treatment of patients with BRAF-mutant melanoma (COLUMBUS study) and BRAF-mutant colorectal cancer (BEACON CRC study) as a combination therapy.
* Under the terms of the agreement, ONO will pay to Array an upfront payment of 3.5 billion yen and milestones up to 17.3 billion yen and other expenses
Source text in Japanese:goo.gl/ImeSPx
Further company coverage: (Beijing Headline News)