24 April 2014 - Biopharmaceutical company Medivation (NASDAQ:MDVN) revealed on Wednesday the launch of a research and license agreement for certain compounds targeting Bromodomain and Extra-Terminal (BET) proteins for potential use in oncology and other disease areas in partnership with OncoFusion Therapeutics.

As part of the agreement, Medivation will acquire the exclusive worldwide rights for the development and commercialisation of these compounds.

Under the terms of the agreement, Medivation is granted access to OncoFusion's growing library of small molecule BET bromodomain inhibitor compounds from which Medivation may select compounds to move forward into drug development efforts.

OncoFusion is eligible to receive undisclosed upfront payments and potential future milestone payments subject to achievement of defined clinical and commercial milestone events.It is eligible to receive royalties on the commercial sale of approved products as defined in the agreement.

BET bromodomain proteins regulate gene expression and have shown to play a critical role in cancer and other diseases. Emerging research in the area of cancer biology suggests that targeting epigenetic regulators may reduce the growth of a number of tumor types including certain hematological and solid tumors, added the company.