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 science.”
“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.