GVK Biosciences and Onconova in cancer drug development deal

9 January 2013

GVK Biosciences, a Hyderabad, India-based contract research and development organization, and privately-held US biopharma company Onconova Therapeutics have entered into a novel joint partnership to develop new drugs for cancer. Financial terms were not disclosed.

The joint partnership will be based in the USA and will align research priorities and technological expertise from both companies to facilitate moving certain Onconova oncology assets from early discovery to clinical development stage. Premkumar Reddy, the scientific founder and director of Onconova, will oversee the biology and biomarker aspects of the partnership. Onconova will provide two discovery targets with early chemical equity, while GBK Bio will use its multi-disciplinary discovery platform to advance these programs through lead optimization and Investigational New Drug candidate selection.

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