Array BioPharma and Celgene Corp. entered a strategic R&D collaboration focused on novel therapeutics in cancer and inflammation. Under the agreement, Array will receive an upfront payment of $40 million and will grant Celgene an option to select two of four mutually selected discovery targets developed under the collaboration. Array will be responsible for all discovery and clinical development through Phase I or Phase IIa. Celgene will then have the option to select drugs resulting from tw...