Array Biopharma Accelerates Growth Plans with Sizeable Colorado Expansion

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). As a drug discovery company with a focus on small molecule drugs, Array Biopharma Incorporated (Nasdaq:ARRY) (Boulder, Colorado) is undergoing a wave of expansion activity to advance its ambitious growth strategy. Plans for a series of phased-in increases throughout 2006 at their drug discovery facilities in Boulder and Longmont, will increase Array's existing 50,000 square feet of research areas to 190,000 square feet.

Array has employed a successful strategy of funding their proprietary research programs and growth primarily through the earnings generated from drug discovery collaborations with other companies. Their first quarter of fiscal 2003 showed an increase in revenue by 46% compared to the same period in the last fiscal year. The company hopes the expansions and new long-term leases at their two sites will foster continued positive growth.

Having recently received validation for a Good Manufacturing Practices (cGMP) pilot facility in accordance with FDA regulations, Array hopes to soon begin producing product for Phase I clinical testing. Prior to beginning human clinical testing, a potential drug candidate must undergo extensive in vitro, or laboratory, and in vivo, or animal model, studies to predict human drug safety. These studies investigate toxicity over a wide range of doses and how the drug is metabolized. The results of these studies provide the groundwork for FDA approval for human testing.