Onconova Therapeutics, Inc. and Trawsfynydd Therapeutics, Inc. announced that the companies have entered into a definitive merger agreement to combine in an all-stock transaction. Under the terms of the agreement, Onconova acquired 100% of Trawsfynydd?s outstanding equity interests. In connection with the transaction and concurrent with the Merger, the combined company which has been renamed Traws Pharma, Inc. Traws will be led by incoming Chief Executive Officer, Werner Cautreels, Ph.D.; President and Chief Scientific Officer, Oncology, Steven Fruchtman M.D., (Onconova); Chief Financial Officer, Mark Guerin (Onconova), Chief Medical Officer, Robert Redfield, M.D., (Trawsfynydd), Chief Scientific Officer, Virology, C. David Pauza, Ph.D., (Trawsfynydd) and Chief Operating Officer, Nikolay Savchuk, Ph.D., (Trawsfynydd/Torrey Pines), as well as several other members of the Onconova and Trawsfynydd teams. Traws?

Board of Directors will be comprised of Trawsfynydd?s Chairman Iain Dukes, DPhil (Venture Partner at OrbiMed), Executive Chairman, Werner Cautreels, Nikolay Savchuk, Ph.D. (General Partner of Torrey Pines) as well as existing Onconova Directors Trafford Clarke, Ph.D, James Marino, J.D. and M. Theresa Shoemaker and Jack E. Stover.