Advertisement Medivation, OncoFusion sign license deal for new bromodomain proteins in oncology - Pharmaceutical Business review
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Medivation, OncoFusion sign license deal for new bromodomain proteins in oncology

US-based biopharmaceutical firm Medivation and OncoFusion Therapeutics have entered into a research and license agreement for certain compounds targeting Bromodomain and Extra-Terminal (BET) proteins for potential use in oncology and other disease areas.

The deal will see Medivation secure exclusive worldwide rights for the development and commercialization of these compounds.

As part of the deal, Medivation will have access to OncoFusion’s growing library of small molecule BET bromodomain inhibitor compounds from which it may select compounds to move forward into drug development efforts.

In return, OncoFusion will be eligible to receive undisclosed upfront payments and potential future milestone payments subject to achievement of defined clinical and commercial milestone events.

Additionally, OncoFusion will also be eligible to get royalties on the commercial sale of approved products as defined in the agreement.

Medivation president and chief executive officer David Hung said BET bromodomain proteins are emerging as an important new class of pharmacological targets with broad potential applications in oncology and other diseases.

"We intend to expand our footprint in cancer by developing improved next generation therapies based upon cutting edge technologies like the one we have licensed from OncoFusion," Hung said.

OncoFusion Therapeutics co-founder Arul Chinnaiyan said," This agreement with Medivation provides us with the opportunity to accelerate research and development exploring the role of BET bromodomain proteins in oncology."