Array To Regain Worldwide Rights To Binimetinib

- Array to receive up to $85 million upfront payment from Novartis -
- Novartis to conduct and/or substantially fund all ongoing and several planned clinical studies, including COLUMBUS, NEMO and MILO -
- Agreement subject to Novartis-GSK transaction close -

BOULDER, Colo., Dec. 3, 2014 - Array BioPharma Inc. (ARRY) today announced that it has reached a definitive agreement with Novartis International Pharmaceutical Ltd. to regain full worldwide rights to binimetinib, a MEK inhibitor in three Phase 3 trials.  This agreement is conditional on the closing of transactions announced by Novartis and GlaxoSmithKline PLC (GSK) on April 22, 2014, which are expected in the first half of 2015, and remain subject to regulatory approval. Array had previously granted Novartis worldwide exclusive rights to develop and commercialize binimetinib under a 2010 License Agreement, which will terminate and be superseded by a new set of agreements between the parties.

Illumina and Sequenom Pool Noninvasive Prenatal Testing Intellectual Property and End Outstanding Patent Disputes

SAN DIEGO-- Illumina, Inc. (ILMN) and Sequenom, Inc. (SQNM) today announced they have agreed to settle all pending infringement claims and other disputes between Sequenom and Verinata Health, Inc. The parties will pool their owned and in-licensed intellectual property directed to noninvasive prenatal testing (NIPT), including patents that will remain the subject of ongoing interference proceedings.

Under the agreement, Illumina will have exclusive worldwide rights to utilize the pooled intellectual property to develop and sell in-vitro diagnostic kits for NIPT and to license third-party laboratories wishing to develop and sell their own laboratory-developed NIPT tests under the collection of pooled patents. In addition, Sequenom and Illumina will each have rights to utilize all pooled patents to develop and sell their own respective laboratory-developed NIPT tests. The parties will share the revenue from the patent pool and Illumina will pay Sequenom a royalty on sales of in-vitro diagnostic kits for NIPT.

Avanir Pharmaceuticals To Be Acquired By Otsuka Pharmaceutical For $3.5 Billion

ALISO VIEJO, Calif., Dec. 2, 2014 -- Avanir Pharmaceuticals, Inc. (AVNR) today announced that it has entered into a definitive agreement with Otsuka Pharmaceutical Co., Ltd. pursuant to which Otsuka will acquire Avanir for $17.00 per share in cash.  The transaction, which values Avanir at approximately $3.5 billion, has been unanimously approved by the boards of directors of both companies.  Otsuka will launch a tender offer within ten business days to purchase all outstanding shares of Avanir.  The closing of the tender offer will be subject to the tender of a majority of Avanir's shares outstanding and certain other customary closing conditions, including expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.  The transaction is expected to close in the first quarter of 2015.