Onconova Therapeutics and SymBio Pharmaceuticals will collaborate to develop and commercialize rigosertib in Japan and Korea. Onconova is conducting Phase III trials with rigosertib for the treatment of Myelodysplastic Syndromes (MDS) and solid tumors. The FDA has granted orphan drug designation for the use of rigosertib in MDS, and a Special Protocol Assessment (SPA) for the Phase III trial design.
SymBio has an exclusive license to develop and commercialize rigosertib in Japan and Korea. Onconova will receive an undisclosed upfront payment and development milestones, as well as sales milestone payments and royalties. The two companies will enter into an agreement for the supply of clinical and commercial product.
“This is the first commercial transaction for our lead product rigosertib, and we are delighted that SymBio is our partner in Japan and Korea,” said Dr. Ramesh Kumar, president and chief executive officer of Onconova. “The broad reach of rigosertib across blood cancers as well as solid tumors, and the ability to address previously intractable indications with single agent and combination therapies, will provide multiple opportunities to serve the unmet medical needs of patients worldwide.”
In addition to the intravenous product development, an oral formulation of rigosertib is being developed for first line MDS and other indications.