Print“Bionomics’ capabilities and overall expertise in discovery and characterization of small molecules for this neuroscience target class is impressive, says Merck's Rupert Vessey. ”
Bionomics has partnered with Merck for the development of its BNC375 research program targeting cognitive dysfunction associated with Alzheimer’s disease and other central nervous system conditions in a deal worth up to $526 million. It is the second agreement struck between the Australian biotech and the U.S. biopharma in less than a year.
Lead compound BNC375 is a positive allosteric modulator of nicotinic acetylcholine receptor alpha 7. It and related compounds in the program have displayed potent efficacy in animal cognitive impairment models.
Under the new agreement, Merck will fund all further research and development of the program, including lead preclinical candidate BNC375, and will be responsible for worldwide commercialization of any products from the collaboration. Bionomics will receive $20 million in upfront payments and is eligible to receive up to $506 million in milestone payments plus undisclosed royalties.
“Bionomics’ capabilities and overall expertise in discovery and characterization of small molecules for this neuroscience target class is impressive,” says Rupert Vessey, head of Early Development and Discovery Sciences at Merck Research Laboratories.
Bionomics has developed four proprietary technology platforms for discovering and developing novel small molecules targeting cancer and diseases of the central nervous system. These platforms drive its preclinical pipeline and support its strategy of securing partners for further development.
Bionomics’ first collaboration with Merck is a two-year option and license agreement, signed in July 2013, to discover and develop novel small molecule candidates to treat chronic pain, including neuropathic pain using Bionomics’ ionX and Multicore drug discovery technologies to identify potential compounds. Merck has an option to exclusively license a compound from that collaboration for further development.
“Bionomics continues to deliver on its business model that focuses on strategic partnering for the development and commercialization of selected programs within its pipeline,” says Deborah Rathjen, CEO and managing director of Bionomics. “This significant agreement, our second with Merck, further validates our drug discovery platforms.”
Bionomics also has partnerships with Ironwood Pharmaceuticals for an anti-anxiety therapy and an ongoing deal with Merck Serono in multiple sclerosis that was signed in 2008.
Investors cheered the deal sending shares of the biotech up 17 percent after its announcement.
June 25, 2014
http://www.burrillreport.com/article-bionomics_and_merck_partner_in_deal_worth_up_to_526m_.html
