LONDON and BOULDER, Colo., June 8 /PRNewswire-FirstCall/ -- AstraZeneca (NYSE: AZN - News) and Array BioPharma Inc. (Nasdaq: ARRY - News) today announced the initiation of a Phase II study for AZD6244 (ARRY-142886) in malignant melanoma. AZD6244 is a selective MEK inhibitor that was in-licensed by AstraZeneca from Array in December 2003. AstraZeneca expects the first patient to be enrolled in this melanoma study before the end of June, which will trigger a $3 million milestone payment to Array upon dosing the first patient.
