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Baxter And Onconova Announce European Licensing Agreement For Anti-Cancer Compound Rigosertib

About Onconova Therapeutics, Inc.

Onconova Therapeutics Inc., based in Newtown, PA and Pennington, NJ, discovers and develops novel small molecule therapeutics directed at targets involved in signal transduction, cell cycle, and DNA repair. 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.

This release includes forward-looking statements concerning a collaboration agreement between Baxter International Inc. and Onconova Therapeutics, including expectations with respect to development milestone payments. The statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those in the forward-looking statements: satisfaction of regulatory and other requirements; actions of regulatory bodies and other governmental authorities; clinical trial results; changes in laws and regulations; product quality or patient safety issues; and other risks identified in Baxter’s most recent filings on Form 10-K and other SEC filings. Baxter does not undertake to update its forward-looking statements.

1 cancer.gov/cancertopics/pdq/treatment/myelodysplastic/Patient/page3

2 theoncologist.alphamedpress.org/content/2/6/389.full

3 Annonc.oxfordjournals.org/content/early/2012/02/24/annonc.mds024.full

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