Oncolix, Inc. announced that the company has finalized its license agreement from IGL Pharma, Inc., (‘IGLP’) for a novel, clinical stage drug for the treatment of osteosarcoma. Other potential indications include bone metastases and bone marrow ablation. Osteosarcoma is a rare disease (US incidence of 800 to 900 patients) that affects both adolescents and adults. While the cure rate in local osteosarcoma is about 70%, in metastatic disease it is fatal. In addition to the need for better therapies to treat the disease, there is a need to reduce the pain associated with bone cancers. Bone pain is associated with all bone cancers, including bone metastases, which often originate from prostate and breast cancer. Bone marrow ablation is a viable option for many cancers, including leukemia, lymphoma and sickle cell anemia. In the case of sickle cell anemia, bone marrow ablation is the only known cure. The current standard for bone marrow ablation is high doses of chemotherapy, which are known to cause significant side effects.