Bionomics to progress clinical trials

THE ROADHOUSE PHARMACY: Bionomics Limited (ASX: BNO) has announced it intends to accelerate and progress BNC210, for the treatment of anxiety and depression, into further human clinical trials expected to commence before the end of the year.

In January 2012 Bionomics entered into a collaboration, research & licensing agreement with Ironwood Pharmaceuticals, Inc, for the worldwide development and commercialisation of BNC210.

Bionomics and Ironwood have now mutually agreed to terminate this arrangement, however, Ironwood will retain a royalty interest in BNC210 whilst Bionomics has re-acquired exclusive worldwide rights to develop, commercialise and partner BNC210.

Bionomics has received approval to commence a Phase Ib clinical trial in France to be conducted by Biotrial International Limited.

The trial will examine target engagement by BNC210, based on its mechanism of action.

Bionomics indicated it will also make a submission to commence a Phase II trial in patients with anxiety.

Pending approval, this trial is anticipated to commence in Q1, 2015.

“Bionomics is in a strong position to dedicate the necessary internal resources and has secured non-dilutive funding specifically for the purpose of progressing BNC210 into the next stage of development,” Bionomics CEO and managing director Dr Deborah Rathjen said in the company’s announcement to the Australian Securities Exchange.

“Much has been achieved in the past two years in building towards Phase II, including formulation and an extensive toxicology program.

“In addition Bionomics will present on the novel mechanism of action of BNC210 at the annual Society for Neuroscience meeting in the US next month.”

US$10 million in funding for the continued development of BNC210 is in place through the U.S. bank, Silicon Valley Bank (SVB).

The SVB loan will be paid back over a 30 month period.

This special purpose financing will support the planned BNC210 clinical trials.

Website: www.bionomics.com.au