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Bionomics Upbeat On Anxiety Candidate Despite Alliance End

 
• By Ian Haydock

The Australian venture Bionomics has reacquired all global rights to a potential anxiety drug and secured new financing to support its further clinical development.

Bionomics Ltd. has regained from Ironwood Pharmaceuticals Inc. sole worldwide rights to develop and commercialize the molecule, BNC210 after the two firms mutually decided to end a January 2012 agreement. Under this, the U.S. firm paid $3 million upfront in a deal for the lead and related compounds potentially worth up to $345 million to Bionomics, plus royalties.

Cambridge, Massachusetts-based Ironwood was to fund clinical trials and be responsible for the development and commercialization of all BNC210-containing products....

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