Big deal for Bionomics
Friday, 20 June, 2008
Adelaide-based biotech Bionomics (ASX: BNO) has signed a significant development and licensing agreement with Merck Serono, which will see the German pharmaceutical manufacturer develop new treatments for multiple sclerosis and other autoimmune conditions based on Bionomics compounds.
The agreement may be worth up to US$47 million if successful. The company will also be eligible to received undisclosed royalties on the net sales of licensed products.
Bionomics' proprietary Kv1.3 compounds inhibit the production of cells which cause nerve damage in patients suffering from MS and related nerve disorders.
Under the terms of the agreement, Bionomics will receive an upfront payment of $2 million for continued research funding, and Merck Serono will pay clinical development costs.
Bionomics' Kvl.3 compounds target the potassium ion channel Kvl.3, a key modulator of the immune system. The company also has a vascular disruption agent in clinical trials for cancer and is researching GABA-A agonists for epilepsy.
Cardiac organoids bring hope for treating heart disease
Australian scientists have developed lab-grown, three-dimensional heart tissues known as cardiac...
Indigenous-led initiative to resurrect the South Island Giant Moa
New Zealand's Ngāi Tahu Research Centre has partnered with Colossal Biosciences and Sir Peter...
Abnormal brain protein targeted in Parkinson's study
Researchers have identified a new brain protein involved in the development of Parkinson's...
