Baxter Media Contacts
Brian Kyhos, (224) 948-4210
Deborah Spak, (224) 948-2349
Onconova Media Contacts
Douglas MacDougall or Chris Erdman
MacDougall Biomedical Communications(781) 235-3060
Baxter Investor Contacts
Mary Kay Ladone, (224) 948-3371
Clare Trachtman, (224) 948-3085
BAXTER AND ONCONOVA ANNOUNCE EUROPEAN LICENSING AGREEMENT FOR
ANTI-CANCER COMPOUND RIGOSERTIB
Rigosertib in Late-Stage Studies for MDS and Pancreatic Cancer
DEERFIELD, Ill., and NEWTOWN, PA., SEPTEMBER 19, 2012– Baxter International
Inc. (NYSE:BAX) and Onconova Therapeutics, Inc. today announced that they have enteredinto a European licensing agreement for rigosertib, a novel targeted anti-cancer compound
currently in a Phase III study for the treatment of a group of rare hematologic malignancies
called Myelodysplastic Syndromes (MDS) and in a Phase II/III study for pancreatic cancer.
Under the terms of the agreement, Baxter will obtain commercialization rights in theEuropean Union and other countries in Europe. Baxter will make an upfront payment of $50
million to Onconova, which will be recorded as a special pre-tax in-process research anddevelopment charge in the third quarter of 2012. In addition, Onconova may receive up to$515 million in pre-commercial development and regulatory milestones for the MDS andBAXTER AND ONCONOVA ANNOUNCE EUROPEAN LICENSING AGREEMENT FOR
ANTI-CANCER COMPOUND RIGOSERTIB – PAGE 2

pancreatic cancer indications, in addition to sales milestones and royalties. Baxter has theoption to participate in the development and commercialization of rigosertib in additionalindications. Baxter has an existing equity investment with Onconova of $50 million.
“Rigosertib’s first anticipated indication would be a natural complement to Baxter’s
existing treatments for patients managing rare hematologic conditions, and will allow us toexpand the product portfolio of our existing hematologic sales force,” said Ludwig Hantson,Ph.D., president of Baxter’s BioScience business. “Our collaboration with Onconova will allow
us to further expand our pipeline and extend our legacy in disease areas with critical needs.”
Baxter recently announced that it has begun dosing patients with malignant solid
tumors in a Phase I clinical trial of an anti-MIF antibody. Both programs are part of Baxter’s
expansion into oncology treatments, through a research and development initiative that builds
on the company’s expertise in treating patients with life-threatening medical conditions.
Baxter’s current oncology portfolio includes chemotherapeutic agents used alone or in
combination with other products to treat cancers such as non-Hodgkin’s lymphoma, as well as
anti-emetic products designed to relieve the side effects of cancer therapeutics.
“We look forward to working closely with Baxter with the shared goal of providing thistherapy to patients in Europe,” said Ramesh Kumar, Chief Executive Officer of Onconova.
“The financial resources resulting from this transaction will help to advance the rigosertib
program toward commmercialization and will support other Onconova candidates in clinicaldevelopment including Ex-RAD®, a radioprotectant, and ON 013105, our second novel anticancer agent.”

BAXTER AND ONCONOVA ANNOUNCE EUROPEAN LICENSING AGREEMENT FOR
ANTI-CANCER COMPOUND RIGOSERTIB – PAGE 3

Rigosertib’s mechanism of action targets dual pathways (PI-3K and PLK) critical to thegrowth of cancer cells. It has been studied in more than 600 patients worldwide and has
shown activity in treating both solid tumors and hematological malignancies. Rigosertib iscurrently being evaluated in a Phase III clinical trial in 270 MDS patients who have failed orrelapsed after receiving current therapeutic options, with initial results expected in the second
half of 2013. Rigosertib is also in a Phase II/III combination study in patients with previously
untreated metastatic pancreatic cancer. In addition, an oral formulation of rigosertib is in aPhase II study in transfusion-dependent low or intermediate-1 risk MDS patients. Onconova
has gained orphan drug designation for MDS in the United States and Europe.
MDS includes a wide range of bone marrow disorders, each associated with increased
risk of bleeding and infection, and an increased risk of progression to acute myeloid leukemia(AML). MDS patients often require multiple blood transfusions and extensive supportive care
to manage their disease, with very poor survival rates.1 The annual incidence of MDS inEurope is approximately 3 per 100,000 people, and while MDS can occur in people of allages, it is diagnosed most frequently in adults over 60 years of age.2 Pancreatic cancer is ahighly aggressive form of cancer. Because symptoms are vague, the disease is difficult todiagnose early and is associated with low survival rates. Recent figures suggest the mortality
rate associated with pancreatic cancer in Europe is rising, and ranges between approximately
8/100,000 in men and 5/100,000 in women.3
About Baxter International Inc.
Baxter International Inc., through its subsidiaries, develops, manufactures and markets
products that save and sustain the lives of people with hemophilia, immune disorders, cancer,

BAXTER AND ONCONOVA ANNOUNCE EUROPEAN LICENSING AGREEMENT FOR
ANTI-CANCER COMPOUND RIGOSERTIB – PAGE 4

infectious diseases, kidney disease, trauma and other chronic and acute medical conditions.
As a global, diversified healthcare company, Baxter applies a unique combination of expertisein medical devices, pharmaceuticals and biotechnology to create products that advancepatient care worldwide.
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 signaltransduction, cell cycle, and DNA repair. In addition to rigosertib, Onconova is developing twoother clinical stage products: Ex-RAD® (a radioprotectant) and ON 013105 (a novel anticancer 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 todevelopment milestone payments. The statements are based on assumptions about many
important factors, including the following, which could cause actual results to differ materially fromthose in the forward-looking statements: satisfaction of regulatory and other requirements; actionsof regulatory bodies and other governmental authorities; clinical trial results; changes in laws andregulations; product quality or patient safety issues; and other risks identified in Baxter’s mostrecent filings on Form 10-K and other SEC filings. Baxter does not undertake to update its
forward-looking statements.

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cancer.gov/cancertopics/pdq/treatment/myelodysplastic/Patient/page3
theoncologist.alphamedpress.org/content/2/6/389.full
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Annonc.oxfordjournals.org/content/early/2012/02/24/annonc.mds024.full
2