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news.US based drug developer Onconova Therapeutics and Japanese SymBio Pharmaceuticals have agreed to jointly develop and commercialize rigosertib in Japan and Korea.
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Rigosertib is a patent protected multi-kinase inhibitor of critical pathways important in the growth and proliferation of cancer cells.
As per the terms of the agreement, SymBio will pay an upfront payment and development milestones to Onconova.
SymBio will also pay sales milestones plus royalties on net sales to Onconova.
Both the parties will enter into an agreement for the supply of development stage and commercial product.
Currently, Onconova is organizing clinical trials of rigosertib in the US, Europe and India as a treatment of Myelodysplastic Syndromes (MDS) and solid tumors.