will gain an increasing share of the programs as they advance, up to a 50/50 split based on achievement of milestones/funding brought into the joint partnership. Onconova retains the rights to buy back the programs.
Onconova brings a wealth of knowledge in Oncology, with an expertise of disease target pathways, hits, and development capabilities in the U.S., Europe and India. GVK BIO
brings its broad experience of working with over 200 pharmaceutical and biotech companies across multiple service offerings, a strong scientific pool of over 2000 scientists, and an IP generating capability that has delivered INDs to other clients.
“The demands for integrated and outcome-based research deals are increasing in the service business. This announcement shows GVK BIO’s
commitment to new and innovative models for Drug Discovery with partners. Onconova is a leading Oncology company and GVK BIO
is happy to partner with them,” said Manni Kantipudi, CEO of GVK BIO
“GVK has a world-class infrastructure and the scientific expertise to support the advancement of these two promising, early-stage programs,” commented Dr. E. Premkumar Reddy, scientific founder of Onconova. “We are delighted to start this novel relationship with GVK BIO
in our search for efficacious targeted therapies for cancer.”
About Onconova Therapeutics, Inc.
Onconova Therapeutics, based in Newtown, PA and Pennington, NJ, discovers and develops novel small molecule therapeutics directed against targets involved in signal transduction, cell-cycle, and DNA repair. The most advanced product, rigosertib (ON 01910.Na), is now in a pivotal trial being conducted under a Special Protocol Assessment (SPA) from the U.S. Food and Drug Administration (FDA) for myelodysplastic syndrome (MDS), as well as in a Phase III trial for pancreatic cancer. In addition to rigosertib, Onconova is developing two other clinical stage products: Ex-RAD (a radioprotectant) and ON 013105 (a novel anti-cancer agent initially directed toward refractory lymphoma, including mantle cell lymphoma).For additional information, please visit http://www.onconova.com
About GVK Biosciences
(GVK BIO) is Asia’s leading contract research organization. GVK BIO
provides a broad spectrum of services, stand-alone and integrated, across the R&D value chain. Our discovery services consist of Chemistry
; the development services include Clinical Research
, Clinical Pharmacology
and Process R&D
. Boosted efficiencies and an infusion of fresh ideas make GVK BIO
the chosen partner of many pharmaceutical, biotechnology, agro, life-science companies and academic institutions. Please visit us at www.gvkbio.com
to know more.
Sushant Datta, Dy General Manager: Corporate Brand & Communications (GVK BIO Inquiries), GVK Biosciences Private Limited, +91 (40) 66929999