Onconova Therapeutics, Inc., a biopharmaceutical company discovering and developing novel cancer treatments with a focus on myelodysplastic syndromes (MDS), has entered into a Distribution, License, and Supply Agreement granting Specialized Therapeutics Asia (STA) exclusive rights to commercialize rigosertib in Australia and New Zealand. Onconova may be entitled to receive clinical, regulatory, and sales-based milestones of as much as $30.4 million and royalties on net sales.

“We are pleased to partner with Specialised Therapeutics Asia, which has a strong track record of commercializing new products in oncology and hematology across Australia and New Zealand,” said Dr. Steven Fruchtman, president and chief executive officer of Onconova. “We look forward to working together and, pending a successful readout of the ongoing INSPIRE Trial, potentially providing rigosertib as a new therapeutic option for patients diagnosed with MDS.”

STA chief executive officer, Mr. Carlo Montagner, said that “patients with high-risk MDS have limited treatment options following currently available first-line treatment. There is no currently approved treatment following failure of standard chemotherapy with hypomethylating agents. Patients are left with the option of entering clinical trials, if available, or supportive care,” he said. “If approved, rigosertib would address an unmet medical need and may be a valuable inclusion to the STA therapeutic portfolio. We are delighted to enter into this collaboration with Onconova and look forward to the results of the ongoing phase 3 INSPIRE Trial of intravenous (IV) rigosertib.”