Baxter Expands its Oncology Pipeline by Licensing European Rights to Onconova Therapeutics’ Rigosertib

Abstract

In return for US$50 M upfront and up to US$515 M in precommercialisation milestone payments, Baxter International has licensed European commercialisation rights to Onconova Therapeutics’ lead anticancer therapy rigosertib. The drug candidate is currently in Phase III development for myelodysplastic syndromes, for which it has been granted Orphan Drug Designation in the US and Europe, and is the subject of a Phase II/III study in pancreatic cancer. Baxter, which has an existing US$50 M equity position in Onconova, also has the option to develop rigosertib in additional indications.