BOULDER, Colo., April 27, 2017 /PRNewswire/ -- Array BioPharma
Inc. (NASDAQ: ARRY) today announced that Shalini Sharp, Chief Financial Officer and
Executive Vice President of Ultragenyx Pharmaceutical Inc., joined
the company's Board of Directors, effective April 27, 2017. Ms. Sharp has been appointed to
the Audit Committee of the Board.
Ms. Sharp has served as Chief Financial Officer of Ultragenyx, a
biopharmaceutical company focused on rare diseases, since 2012,
where she is responsible for leading the corporate finance,
strategy, and information technology functions and is a member of
the company's executive leadership team. Ms. Sharp brings nearly 20
years of experience in the life sciences industry.
Ron Squarer, Chief Executive Officer of Array, noted, "Shalini
has an ideal background to complement the expertise of our Board of
Directors. Her financial leadership at healthcare
organizations will be invaluable as we focus our efforts in
oncology and prepare for commercialization."
Ms. Sharp added, "Array has built an impressive development
pipeline of therapeutics that is advancing in late-stage clinical
trials and provides the opportunity to significantly benefit
patients in areas of unmet need. I'm excited to join the
company's Board at such an important time in its history, as it
nears commercialization of its drugs. I look forward to working
with Ron and my fellow Board members through this important
evolution of Array."
Ms. Sharp is also a member of the Board of Directors of Agenus
Inc. (formerly Antigenics Inc.), a publicly traded immuno-oncology
company, where she served as Chief Financial Officer from 2006 to
2012. She joined Agenus in 2003 and held increasing roles of
responsibility spanning strategic planning, corporate development,
investor relations, corporate finance and business development. She
is also a member of the Board of Directors of the TB Alliance, a
non-profit organization dedicated to the development and
distribution of treatments for tuberculosis in the developing
world. Prior to Agenus, Ms. Sharp held similar roles at Elan
Pharmaceuticals from 1998 to 2003, including serving as chief of
staff to the Chairman of the Board of Directors during that
company's restructuring. She has spearheaded numerous financing and
business development transactions that were critical to the success
of Agenus and Elan. Ms. Sharp was also a management consultant at
McKinsey & Company as well as an investment banker at Goldman
Sachs, specializing in pharmaceuticals and medical devices.
Ms. Sharp holds both a B.A., magna cum laude, and a M.B.A. from
Harvard University.
Ms. Sharp will serve as a Class II director on the Board with a
term that expires at the Annual Meeting of Array's stockholders in
2017.
About Array BioPharma
Array BioPharma Inc. is a
biopharmaceutical company focused on the discovery, development and
commercialization of targeted small molecule drugs to treat
patients afflicted with cancer. Seven registration studies are
currently advancing related to seven drugs: binimetinib (MEK162),
encorafenib (LGX818), selumetinib (partnered with AstraZeneca),
danoprevir (partnered with Roche), larotrectinib (partnered with
Loxo Oncology), tucatinib (partnered with Cascadian Therapeutics)
and ipatasertib (partnered with Roche).
Forward-Looking Statement
This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements
about the potential for commercialization of Array's products and
the expected contributions of Ms. Sharp to the Board of Directors.
These statements involve significant risks and uncertainties,
including those discussed 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. Because these statements reflect our current
expectations concerning future events, 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, our ability to continue to fund and
successfully progress internal research and development efforts and
to create effective, commercially viable drugs; risks associated
with our dependence on our collaborators for the clinical
development and commercialization of our out-licensed drug
candidates; the ability of our collaborators and of Array BioPharma
Inc. to meet objectives tied to milestones and royalties; 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 within and outside the United
States; our ability to achieve and maintain profitability
and maintain sufficient cash resources; the extent to which the
pharmaceutical and biotechnology industries are willing to
in-license drug candidates for their product pipelines and to
collaborate with and fund third parties on their drug discovery
activities; our ability to out-license our proprietary candidates
on favorable terms; and our ability to attract and retain
experienced scientists and management. We are providing this
information as of April 27, 2017. 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.
CONTACT:
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Tricia
Haugeto
|
|
(303)
386-1193
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thaugeto@arraybiopharma.com
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SOURCE Array BioPharma Inc.