Bionomics Announces Extension of Strategic Collaboration with Merck & Co., Inc. for the Discovery and Development of Novel Pain Medications

Merck &Co., Inc. to make US$9 million investment in Bionomics

Bionomics Limited (ASX:BNO, OTCQX:BNOEF), a biopharmaceutical company focused on the discovery and development of innovative therapeutics for the treatment of diseases of the central nervous system (CNS) and cancer, today announced that it has extended its strategic collaboration with Merck & Co., Inc., Kenilworth NJ., (known as MSD outside the United States and Canada) for the discovery and development of drug candidates for the treatment of chronic and neuropathic pain.

The latest agreement builds upon a collaboration signed in July 2013 focused on the discovery and development of novel, small molecule drug candidates for the treatment of chronic and neuropathic pain utilizing Bionomics’ ionX and MultiCore drug discovery platforms.

Separately, Merck & Co., will also purchase 21,659,230 million ordinary shares at A$0.5938, a 29% premium to Bionomics’ closing price on 7 October 2015.

“At Merck & Co., establishing strong long-term external collaborations is central to our business development strategy,” said Dr Iain Dukes Senior VP, Business Development & Licensing Merck Research Laboratories. “We have been impressed with the progress made by Bionomics to date on both our cognition and pain programs and look forward to advancing these programs further.” Bionomics’ CEO & Managing Director Dr Deborah Rathjen commented “I am delighted to welcome Merck & Co., as a shareholder of Bionomics. This investment provides further validation of our

“The extension of our agreement with Merck & Co., on the discovery and development of novel small molecule candidates for the treatment of chronic and neuropathic pain reflects the solid progress made by the Bionomics’ team as we strive to deliver therapies with the potential to make a significant difference in the lives of patients,” Dr Rathjen added.

About Bionomics Limited
Bionomics (ASX: BNO) is a global, clinical stage biopharmaceutical company leveraging its proprietary platform technologies to discover and develop a deep pipeline of best in class, novel drug candidates focused on the treatment of serious central nervous system disorders and on the treatment of cancer. Bionomics’ lead drug candidate BNC210, currently in Phase 2 for the treatment of generalized anxiety disorder, is a novel, proprietary negative allosteric modulator of the alpha-7 (α7) nicotinic acetylcholine receptor. The Company is also developing BNC101, its lead humanized monoclonal antibody targeting a key receptor on cancer stem cells that is overexpressed in metastatic colorectal cancer, metastatic pancreatic cancer and many other solid tumours; BNC101 is expected to enter clinical trials in the fourth quarter of 2015. Bionomics has strategic partnerships with Merck & Co., Inc (known as MSD outside the United States and Canada) in pain and cognition.

Factors Affecting Future Performance
This presentation contains "forward-looking" statements within the meaning of the United States’ Private Securities Litigation Reform Act of 1995. Any statements contained in this presentation that relate to prospective events or developments, including, without limitation, statements made regarding Bionomics’ drug candidates (including BNC210 and BNC101), its licensing agreements with Merck & Co. and any milestone or royalty payments thereunder, drug discovery programs, ongoing and future clinical trials, and timing of the receipt of clinical data for our drug candidates are deemed to be forward-looking statements. Words such as "believes," "anticipates," "plans," "expects," "projects," "forecasts," "will" and similar expressions are intended to identify forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by these forward-looking statements, including unexpected safety or efficacy data, unexpected side effects observed in clinical trials, risks related to our available funds or existing funding arrangements, our failure to introduce new drug candidates or platform technologies or obtain regulatory approvals in a timely manner or at all, regulatory changes, inability to protect our intellectual property, risks related to our international operations, our inability to integrate acquired businesses and technologies into our existing business and to our competitive advantage, as well as other factors. Results of studies performed on our drug candidates and competitors’ drugs and drug candidates may vary from those reported when tested in different settings. Subject to the requirements of any applicable legislation or the listing rules of any stock exchange on which our securities are quoted, we disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this presentation.

To read more Press Release articles, click here.