BOULDER, Colo., Aug. 10, 2018 /PRNewswire/ -- Array
BioPharma Inc. (Nasdaq: ARRY) today announced that Carrie S. Cox has been named Chairman of its
Board of Directors, effective immediately. Ms. Cox has been
appointed to the Audit and Corporate Governance Committees of the
Board. Kyle Lefkoff, General Partner
of Boulder Ventures Ltd., who has served as Chairman of Array's
Board since its inception, has stepped down as Chairman and will
continue to serve as a director.
Ms. Cox is an experienced corporate director with a
distinguished career in the biopharmaceutical industry. She
served as Executive Vice President and President of
Schering-Plough's Global Pharmaceutical Business, which generated
approximately $16 billion in annual
sales. Before joining Schering-Plough, Ms. Cox served as Executive
Vice President and President of Pharmacia's Global Prescription
Business, Senior Vice President of Pharmacia & Upjohn's Global
Prescription Business, and as Vice President of Women's Healthcare
at Wyeth-Ayerst.
"All of us at Array are grateful to Mr. Lefkoff for his
dedication and service to the company and acknowledge his many
important contributions as Array evolved to a fully-integrated,
commercial-stage biopharmaceutical company. We look forward to his
continued insight and guidance as a valued member of our Board of
Directors," said Ron Squarer, Chief Executive Officer, Array
BioPharma. "We are delighted to have Ms. Cox join and lead
our Board of Directors. She brings a wealth of commercial expertise
to Array that will help drive the success of our recent launch of
BRAFTOVI™ + MEKTOVI®."
"I am thrilled that BRAFTOVI + MEKTOVI are now available to
patients and I look forward to continuing to work with the Array
team," said outgoing Chairman Kyle
Lefkoff. "Ms. Cox is an experienced pharmaceutical executive
with a highly successful history of commercial management. She is
ideally suited to lead our Board into the next phase of Array's
growth and development, and we are proud to welcome her to the
Array team."
Ms. Cox added, "I am excited to join Array's Board as the
Company commercializes its first FDA-approved products in
metastatic melanoma with the approval of BRAFTOVI + MEKTOVI. Array
also has an impressive drug discovery and development engine, and I
look forward to working closely with the team and my fellow Board
members to advance innovative treatments that have the potential to
significantly benefit patients in need."
Ms. Cox currently serves on the Boards of Directors of Celgene,
Cardinal Health, electroCore and Texas Instruments (previously as
Lead Director). Ms. Cox also serves as the Executive Chairman of
the Humacyte, Inc., Board of Directors through 2018. Most recently,
Ms. Cox served as Chairman and Chief Executive Officer of Humacyte,
Inc., which she joined in 2010. Ms. Cox also served as Chairman of
Prism Pharmaceuticals, sold to Baxter Corporation in 2011. Ms. Cox
spent her early career at Sandoz pharmaceuticals (now Novartis) in
a variety of commercial roles of increasing responsibility.
Ms. Cox has been named to FORTUNE Magazine's list of the "50
Most Powerful Women in Business" six times. Her work has been
featured in Harvard Business Review and in the New York Times bestseller, The Profit Zone,
and she is a graduate of the Massachusetts
College of Pharmacy.
Ms. Cox will serve as a Class I director on the Board with a
term that expires at the Annual Meeting of Array's stockholders in
2019.
About Array BioPharma
Array BioPharma Inc. is a
fully-integrated, biopharmaceutical company focused on the
discovery, development and commercialization of transformative and
well-tolerated targeted small molecule drugs to treat patients
afflicted with cancer and other high-burden diseases. Array markets
in the United States
BRAFTOVITM (encorafenib) capsules in combination with
MEKTOVI® (binimetinib) tablets for the treatment of
patients with unresectable or metastatic melanoma with a
BRAFV600E or BRAFV600K
mutation. Array's lead clinical programs, encorafenib and
binimetinib, are being investigated in over 30 clinical trials
across a number of solid tumor indications, including a Phase 3
trial in BRAF-mutant colorectal cancer. Array's pipeline
includes several additional programs being advanced by Array or
current license-holders, including selumetinib (partnered with
AstraZeneca), larotrectinib (partnered with Loxo Oncology),
ipatasertib (partnered with Genentech), tucatinib (partnered with
Seattle Genetics) and ARRY-797 (being developed by Yarra
Therapeutics, a wholly-owned subsidiary of Array), all of which are
currently in registration trials. Ganovo® (danoprevir,
partnered with Roche) was recently approved in China for the treatment of viral hepatitis C.
For more information on Array, please visit www.arraybiopharma.com
or follow @arraybiopharma on Twitter and LinkedIn.
Array BioPharma Forward-Looking Statement
This press
release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995, including,
among others, statements about the future development plans of
encorafenib and binimetinib; expectations that events will occur
that will create greater value for Array; and the potential for the
results of current and future clinical trials to support regulatory
approval or the marketing success of encorafenib and binimetinib,
and the expected contributions of Ms. Cox to the Board of
Directors. Because these statements reflect our current
expectations concerning future events and involve significant risks
and uncertainties, our actual results could differ materially from
those anticipated in these forward-looking statements as a result
of many factors. These factors include, but are not limited to, the
potential that the FDA, EMA or other regulatory agencies determine
results from clinical trials are not sufficient to support
registration or marketing approval of encorafenib and binimetinib;
our ability to effectively and timely conduct clinical trials in
light of increasing costs and difficulties in locating appropriate
trial sites and in enrolling patients who meet the criteria for
certain clinical trials; risks associated with our dependence on
third-party service providers to successfully conduct clinical
trials and to manufacture drug substance and product within and
outside the U.S.; our ability to grow and successfully develop
commercialization capabilities; our ability to achieve and maintain
profitability and maintain sufficient cash resources; and our
ability to attract and retain experienced scientists and
management. Additional information concerning these and other risk
factors can be found in our most recent annual report filed on Form
10-K, in our quarterly reports filed on Form 10-Q, and in other
reports filed by Array with the Securities and Exchange Commission.
We are providing this information as of August 10, 2018. We undertake no duty to update
any forward-looking statements to reflect the occurrence of events
or circumstances after the date of such statements or of
anticipated or unanticipated events that alter any assumptions
underlying such statements.
BRAFTOVI™ is a trademark of Array BioPharma Inc.
MEKTOVI® is a registered trademark of Array BioPharma
Inc. in the United States and
various other countries.
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SOURCE Array BioPharma