Medivation Enters Into License Agreement With OncoFusion for Compounds
Targeting Bromodomain Proteins
SAN FRANCISCO, CA and ANN ARBOR, MI -- (Marketwired) -- 04/23/14 --
Medivation, Inc. (NASDAQ: MDVN) and OncoFusion Therapeutics, Inc.
today announced that they 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. Medivation will gain exclusive worldwide rights for
the development and commercialization of these compounds. Under the
terms of the agreement, Medivation shall have access to OncoFusion's
growing library of small molecule BET bromodomain inhibitor compounds
from which Medivation may select compounds to move forward into drug
OncoFusion is eligible to receive undisclosed upfront payments and
potential future milestone payments subject to achievement of defined
clinical and commercial milestone events. In addition, OncoFusion
shall be eligible to receive royalties on the commercial sale of
approved products as defined in the agreement. Further financial
details were not disclosed.
"BET bromodomain proteins are emerging as an important new class of
pharmacological targets with broad potential applications in oncology
and other diseases," said David Hung, M.D., president and chief
executive officer of Medivation. "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
"This agreement with Medivation provides us with the opportunity to
accelerate research and development exploring the role of BET
bromodomain proteins in oncology," said Arul M. Chinnaiyan, M.D.,
Ph.D., co-founder of OncoFusion Therapeutics, Inc., director of the
Michigan Center for Translational Pathology and S.P. Hicks Professor
of Pathology at the University of Michigan Medical School.
"OncoFusion is committed to discover and develop innovative and
personalized medicines for oncology, and through collaborations with
partners like Medivation, we can fulfill that commitment," added
Shaomeng Wang, Ph.D., co-founder of OncoFusion Therapeutics, Inc. and
Warner-Lambert/Parke-Davis Professor in Medicine and Director of the
Center for Discovery of New Medicines at the University of Michigan.
About BET bromodomain Proteins
BET bromodomain proteins regulate gene expression and have been shown
to play a critical role in cancer and other diseases. Emerging
research in the area of cancer biology suggests that targeting
epigenetic regulators such as the bromodomain family of proteins may
reduce the growth of a number of tumor types including certain
hematological and solid tumors. Recent preclinical data published in
Nature(1) reported that targeting BET bromodomain proteins may have
therapeutic potential in castration-resistant prostate cancer that is
resistant to current treatments.
(1) Chinnaiyan, et al. Therapeutic Targeting of BET Bromodomain
Proteins in Castration-Resistant Prostate Cancer, Nature, DOI:
10.1038/nature13229, published online April 23, 2014.
Medivation, Inc. is a biopharmaceutical company focused on the rapid
development of novel therapies to treat serious diseases for which
there are limited treatment options. Medivation aims to transform the
treatment of these diseases and offer hope to critically ill patients
and their families. For more information, please visit us at
About OncoFusion, Inc.
OncoFusion Therapeutics is a privately-held company, which was
founded in 2012 by Arul M. Chinnaiyan, M.D., Ph.D., Shaomeng Wang,
Ph.D., Kenneth J. Pienta, M.D. at the University of Michigan.
OncoFusion's mission is to discover and develop the next generation
of personalized therapeutics for patients with genetically defined
cancers. For more information, visit www.oncofusion.com.
Forward-Looking Statement Disclaimer
The statements in this press release regarding the actions that
Medivation and OncoFusion expect to take under the research and
license agreement, and the potential for identifying new treatments
for oncology are forward-looking statements that are subject to risks
and uncertainties. Actual results may differ substantially for a
number of reasons, including, but not limited to: the development of
new drug compounds is a lengthy, expensive and uncertain process; the
process of obtaining regulatory approval is uncertain, and may not be
completed; benefits expected as a result of early studies may not
materialize in later, more extensive studies; and other risks
detailed under the caption "Risk Factors" in Medivation's Annual
Report on Form 10-K, filed with the Securities and Exchange
Commission on February 27, 2014. Medivation undertakes no obligation
to update these forward-looking statements other than as required by
Sr. Director, Investor Relations
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