diff --git a/.github/workflows/publish_internal.yml b/.github/workflows/publish_internal.yml
deleted file mode 100644
index 800cc2c60ac..00000000000
--- a/.github/workflows/publish_internal.yml
+++ /dev/null
@@ -1,83 +0,0 @@
-name: Build and upload to internal PyPI
-
-on:
-  workflow_dispatch: # run on request (no need for PR)
-
-jobs:
-  build_wheels:
-    name: Build wheels
-    runs-on: ubuntu-latest
-    steps:
-      - name: Checkout
-        uses: actions/checkout@v3
-      - name: Build wheels
-        uses: pypa/cibuildwheel@v2.13.1
-      - uses: actions/upload-artifact@v3
-        with:
-          path: ./wheelhouse/*.whl
-
-  build_sdist:
-    name: Build source distribution
-    runs-on: ubuntu-latest
-    steps:
-      - name: Checkout
-        uses: actions/checkout@v3
-      - name: Set up Python 3.10
-        uses: actions/setup-python@v3
-        with:
-          python-version: "3.10"
-      - name: Install pypa/build
-        run: python -m pip install build
-      - name: Build sdist
-        run: python -m build --sdist
-      - uses: actions/upload-artifact@v3
-        with:
-          path: dist/*.tar.gz
-
-  publish_package:
-    name: Publish package
-    needs: [build_wheels, build_sdist]
-    environment: pypi
-    runs-on: [self-hosted, linux, x64, dev]
-    permissions: write-all
-    steps:
-      - name: Set up Python
-        uses: actions/setup-python@v4
-        with:
-          python-version: "3.10"
-      - name: Install dependencies
-        run: python -m pip install twine
-      - name: Download artifacts
-        uses: actions/download-artifact@v3
-        with:
-          # unpacks default artifact into dist/
-          # if `name: artifact` is omitted, the action will create extra parent dir
-          name: artifact
-          path: dist
-      - name: Check tag
-        id: check-tag
-        uses: actions-ecosystem/action-regex-match@v2
-        with:
-          text: ${{ github.ref }}
-          regex: '^refs/heads/releases/[0-9]+\.[0-9]+\.[0-9]+(\.[0-9]+rc[0-9]+|rc[0-9]+)?$'
-      - name: Check dist contents
-        run: twine check dist/*
-      - name: Publish package dist to internal PyPI
-        if: ${{ steps.check-tag.outputs.match != '' }}
-        run: |
-          export no_proxy=${{ secrets.PYPI_HOST }}
-          export REPOSITORY_URL=http://${{ secrets.PYPI_HOST }}:${{ secrets.PYPI_PORT }}
-          twine upload --verbose --repository-url $REPOSITORY_URL dist/* -u ${{ secrets.PYPI_USER }} -p ${{ secrets.PYPI_PASSWORD }}
-      - name: Publish package distributions to TestPyPI
-        if: ${{ steps.check-tag.outputs.match == '' }}
-        run: |
-          export REPOSITORY_URL=https://test.pypi.org/legacy/
-          twine upload --verbose --repository-url $REPOSITORY_URL dist/* -u __token__ -p ${{ secrets.TESTPYPI_API_TOKEN }}
-      - name: Clean up dist
-        if: ${{ always() }}
-        run: |
-          if OUTPUT=$(ls | grep -c dist)
-          then
-            echo "Cleaning up dist directory"
-            rm -r dist
-          fi
diff --git a/CHANGELOG.md b/CHANGELOG.md
index 811d55b9523..806dcbfe549 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,12 @@
 
 All notable changes to this project will be documented in this file.
 
+## \[v1.5.3\]
+
+### Others
+
+- Bump ONNX version to 1.16.0 to omit security issue at 1.5.2 (<https://github.com/openvinotoolkit/training_extensions/pull/3209>)
+
 ## \[v1.5.2\]
 
 > **NOTES**
diff --git a/requirements/dev.txt b/requirements/dev.txt
index 3966fdcf396..f476e090a3e 100644
--- a/requirements/dev.txt
+++ b/requirements/dev.txt
@@ -6,7 +6,7 @@ pytest==7.4.*
 coverage==7.3.*
 pytest-timeout==2.2.*
 pytest-mock==3.12.*
-onnx==1.13.0
+onnx==1.16.0
 onnxruntime==1.14.1
 pytest-csv==3.0.*
 tox==4.11.*
diff --git a/requirements/openvino.txt b/requirements/openvino.txt
index f509939c3df..c102425bdad 100644
--- a/requirements/openvino.txt
+++ b/requirements/openvino.txt
@@ -1,7 +1,7 @@
 # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # #
 # OpenVINO Requirements.                                                      #
 nncf==2.6.0
-onnx==1.13.0
+onnx==1.16.0
 openvino-model-api==0.1.9
 openvino==2023.0
 openvino-dev==2023.0
diff --git a/src/otx/__init__.py b/src/otx/__init__.py
index 1b38cc3dbe1..3b93441e860 100644
--- a/src/otx/__init__.py
+++ b/src/otx/__init__.py
@@ -1,7 +1,7 @@
 """OpenVINO Training Extensions."""
 
-# Copyright (C) 2021-2023 Intel Corporation
+# Copyright (C) 2021-2024 Intel Corporation
 # SPDX-License-Identifier: Apache-2.0
 
-__version__ = "1.5.2"
+__version__ = "1.5.3"
 # NOTE: Sync w/ src/otx/api/usecases/exportable_code/demo/requirements.txt on release
diff --git a/src/otx/api/usecases/exportable_code/demo/requirements.txt b/src/otx/api/usecases/exportable_code/demo/requirements.txt
index 7bf83847c82..ddb23b2c05c 100644
--- a/src/otx/api/usecases/exportable_code/demo/requirements.txt
+++ b/src/otx/api/usecases/exportable_code/demo/requirements.txt
@@ -1,4 +1,4 @@
 openvino==2023.0
 openvino-model-api==0.1.9
-otx==1.5.2
+otx @ git+https://github.com/openvinotoolkit/training_extensions/@1.5.3rc0 
 numpy>=1.21.0,<=1.23.5  # np.bool was removed in 1.24.0 which was used in openvino runtime