Bionomics presenting early Alpha 7 data

Bionomics (ASX:BNO) is presenting details of its its Alpha 7 program targeting Alzheimers and other neurodegenerative conditions at Neuroscience 2012, as it embarks on the hunt for a licensing deal.

The company is using the New Orleans event to detail compounds developed in the program shown to restore memory in preclinical animal models of the conditions.

The compounds act as positive allosteric modulators of the alpha 7 nicotinic acetycholine receptor.

Besides Alzheimer's, the compounds have potential applications in conditions including Parkinson's, MS, schizophrenia and ADHD.

Bionomics presented early data on safety and tolerability at a poster presentation overnight, and plans to deliver a second presentation at 8-12am CST today.

In Bionomics' annual report, published this week, CEO Deborah Rathjen revealed that the company will be looking for an early licensing deal for compounds in the alpha 7 program, “given the strong commercial and clinical interest in agents that stimulate memory.”

The company's most advanced development projects are BNC105 - a prospective treatment for solid tumors currently in trials for ovarian cancer and renal cell carcinoma – and BNC210, an anti-anxiety compound already licensed to Ironwood Pharmaceuticals through a US$345 million ($334.7 million) deal.

The company last week revealed that chairman Chris Fullerton will be retiring from the board at the end of the year. The board has appointed Graeme Kaufman as his successor, pending shareholder approval.

Bionomics (ASX:BNO) shares were trading 3.08% lower at $0.315 as of around 3:45pm on Wednesday.