Targeting unmet needs in the treatment of cancer/ hematological malignancies through innovative drug development strategies have witnessed favorable outcomes. Over the past decade, Proteasome inhibitor, Velcade (bortezomib) and the immunomodulatory drugs – Thalomid (thalidomide) and Revlimid (lenalidomide) have become the cornerstone of treatment for patients with Multiple Myeloma (MM) resulting in improved survival. However, eventually all patients relapse and new treatment options for Relapsed/ Refractory Multiple Myeloma (RRMM) are required to further improve survival and quality of life of this group of pts. Two new drugs have successfully fulfilled this need – POMALYST/ IMNOVID (pomalidomide – POM) and Kyprolis (carfilzomib-CFZ) but is there room for more?We expect a similar scenario to unfold in the treatment of Recurrent/ Refractory MDS (RR-MDS, High-Risk MDS), and Relapsed/ Refractory AML (R/R AML). Innovative approach to treating unmet need has been handsomely rewarded in the past through in-licensing or outright acquisition of the mature/nascent product/innovator company at a premium. The report provides an overview of the approved therapies for RRMM, NDMM, AML, MDS, unmet need and limitations of the current SOC for relapsed and refractory pts. The report highlights the competition and commercial opportunity in pursuing these therapy areas – Comprehensive list of the early and late stage drugs in the clinic, their MoA and the companies developing them.