www.bionomics.com.au
Bionomics is a drug discovery and development company focused on new treatments for cancer and serious disorders of the central nervous system. Through application of its proprietary technology platforms, Bionomics has generated multiple drug candidates and targets in the therapeutic areas of Cancer, Anxiety, Multiple Sclerosis and Epilepsy.
Merck Serono extends research, funding for MS Project with Bionomics
Bionomics (ASX: BNO) has announced the extension of its Development and License Agreement dated June 13, 2008 with Merck Serono, a division of global heathcare giant Merck (NYSE:MRK).
Under the terms of the amendment of the agreement the initial research term is extended for an additional year and Merck Serono increases its research funding.
Merck Serono is actively developing potential new treatments for multiple sclerosis (MS) and other autoimmune conditions based on compounds from Bionomics Kv1.3 program.
The company said the R&D collaboration brings together Bionomics’ expertise in Kv1.3 biology and Merck Serono’s expertise in MS pharmacology.
The combination is hoped to speed up progress in the identification of novel drug candidates that allow selective inhibition of the immune cells which cause nerve cell damage in patients with Multiple Sclerosis.
Deborah Rathjen, chief executive officer and managing director of Bionomics, said the collaboration has been working well.
“In addition to the close collaboration with Bionomics in Kv1.3 chemistry and biology, our European subsidiary, Neurofit, has forged close links with Merck Serono scientists in delivering our contributions to the development program."
"The extension is a clear signal of progress being made and validates our decision to partner this program early with Merck Serono, a world leader and pioneer in treatments for multiple sclerosis” she commented.
The collaboration utilises Bionomics’ proprietary chemistry platformMultiCore® and ion channel drug discovery expertise.
The company said European subsidiary, Neurofit, is key in the successful R&D collaboration with Merck Serono.
Under the 2008 agreement, Bionomics received an upfront payment of US$2 million and committed research funding that has now been extended under the current amendment.
Merck Serono will fund all development activities, including clinical development of drug candidates.
For each compound that is successfully developed and commercialized as a result of the partnership, Bionomics may receive milestone payments of up to US$47 million and will be eligible to receive undisclosed royalties on the net sales of licensed products.
The compounds licensed from Bionomics by Merck Serono target the potassium ion channel Kv1.3, a key modulator of the immune system and a target found on human immune cells which are associated with nerve cell damage in patients with MS.
Inhibitors of Kv1.3 have been shown to inhibit the proliferation of these immune cells, suggesting that they have application in the treatment of MS and potentially other autoimmune conditions, including arthritis.
