Navigation Links
Bionomics Achieves US$1 Million Milestone Payment from Genmab
Date:2/19/2008

ADELAIDE and COPENHAGEN, Feb. 19 /PRNewswire-FirstCall/ -- Bionomics Limited (ASX: BNO, US OTC: BMICY) today announced the successful completion of pre-clinical testing on the first of eight proteins licensed to US $2.6 billion Danish antibody company Genmab A/S (OMX: GEN), triggering a US $1 million milestone payment.

Under the agreement, which was executed in February 2006, Genmab acquired the exclusive worldwide rights to eight proteins identified and characterised by Bionomics using its proprietary Angene(R) angiogenesis platform. Antibodies to these proteins have potential as treatments for cancer and other diseases. At the time of the agreement, Bionomics received an upfront fee and the US $1 million is the first in a series of potential milestone payments upon achieving specified pre-clinical and clinical milestones. Bionomics will also receive milestone payments and royalties on product sales for each product reaching the market.

The US $1 million payment has been triggered with the significant progress made in the first stage of evaluation of the licensed proteins. This evaluation strongly supported the potential of a selection of the licensed proteins as antibody targets and development of a therapy to treat pathological angiogenic conditions. This milestone marks commencement of the next phase of the development program under the collaboration.

"This is a very significant milestone for Bionomics as it validates Bionomics' Angene(R) platform as a source of new treatment modalities for cancer and other conditions involving pathological formation of new blood vessels. It also reinforces for our shareholders the significant commercial potential of our collaboration with Genmab," said CEO of Bionomics Dr. Deborah Rathjen.

"We have been working in close collaboration with Genmab for several years and this latest milestone is a clear validation of the strength of this partnership which aims to bring new antibody-based treatments for cancer to the clinic."

The CEO of Genmab Lisa N Drakeman, PhD commented: "We are pleased to reach the next level of development with these targets and look forward to continuing the collaboration with Bionomics."

Professor Jan G J van de Winkel, PhD, Chief Scientific Officer of Genmab added: "This milestone has been reached following extensive studies by Genmab on the Bionomics targets. The work we have undertaken has confirmed and extended the work performed by Bionomics, further supporting their potential as new targets for therapeutic antibodies."

Bionomics has the rights and is actively developing a large number of additional proprietary proteins discovered through its angiogenesis program, including BNO69. In addition Bionomics' anti-cancer drug BNC105 will soon commence a Phase 1 clinical trial at the Peter MacCallum Cancer Centre, Royal Melbourne Hospital and Western Hospital cancer centres in Melbourne for the treatment of solid tumours including breast, colon and prostate cancers. BNC105 was identified using the Angene(R) platform. Bionomics' Investigational New Drug (IND) submission for BNC105 was accepted by the US Food and Drug Administration in November 2007.

About Bionomics Limited:

Bionomics (ASX: BNO) discovers and develops innovative therapeutics for cancer and diseases of the central nervous system. Bionomics has small molecule product development programs in the areas of cancer, anxiety, epilepsy and multiple sclerosis. Bionomics' discovery and development activities are driven by its three technology platforms: Angene(R), the company's angiogenesis target and drug discovery platform, incorporates a variety of genomics tools to identify and validate novel angiogenesis targets. MultiCore(R) is Bionomics' proprietary, diversity orientated chemistry platform for the discovery of small molecule drugs. ionX(R) is a set of novel technologies for the identification of drugs targeting ion channels for diseases of the central nervous system.

For more information about Bionomics, visit http://www.bionomics.com.au

FOR FURTHER INFORMATION PLEASE CONTACT:

Contact: Bionomics Limited

Dr. Deborah Rathjen

CEO & Managing Director

+61 8 8354 6101 / +61 418 160 425

drathjen@bionomics.com.au

Media Enquiries

Philippa Harris

Buchan Consulting

+612 9237 2800 / +61 408 465 800

pharris@bcg.com.au


'/>"/>
SOURCE Bionomics Limited
Copyright©2008 PR Newswire.
All rights reserved

Related medicine technology :

1. Lotus Pharmaceuticals, Inc. Achieves Significant Milestones in the Development of Isosorbide Mononitrate Sustained Release Tablets
2. Tolerx Achieves Milestone with Completion of Phase Ib Clinical Study of TRX1 in Cutaneous Lupus Erythematosus
3. Surface Logix Achieves Objectives With SLx-2101 in Phase 2a Clinical Trial in Hypertension
4. Pharmasset Announces R7128 Achieves 85% Rapid Virologic Response in a 4-week Combination Study for the Treatment of Chronic Hepatitis C
5. PLC Systems Achieves Successful Early Conclusion of RenalGuard(TM) Pilot Safety Trial
6. Cethromycin Achieves All Endpoints in Second Pivotal Phase III Trial for Treatment of Pneumonia
7. Avastin Achieves Impressive Rate of Curative Surgery in Patients with Advanced Colorectal Cancer
8. Large Blinded Clinical Study Achieves High Accuracy for the Diagnosis of Melanoma Using In Vivo Confocal Microscopy
9. BioVascular Inc. Closes $10.87 Million Series C Financing
10. Joslin Study Identifies Key Factor That Links Metabolic Syndrome; Finding May Help Millions at High Risk of Cardiovascular Disease
11. Michael J. Fox Foundation Awards Up to $3 Million to Industry Teams to Jumpstart Promising PD Drug Development
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/11/2016)... -- NOIT™ Research LLC, a private, leading-edge autism research group, ... assist needy families in obtaining one of its special ... 10, 2016 and March 31, 2016, the company will ... is an auditory stimulus that plays a key role ... Beth Shier , NOIT Research director. "The ...
(Date:2/11/2016)... N.C. , Feb. 11, 2016 ... leading provider of custom manufacturing and development services ... expanded sterile fill-finish capabilities and capacity in its ... growth in demand has driven several recent investments. ... 2001 it had one filling line with small-scale ...
(Date:2/11/2016)... Ore. , Feb. 11, 2016 Wellpartner, ... announce the acquisition of SolutionsRx, a full-service 340B company ... Along with providing traditional contract pharmacy services, SolutionsRx also ... clients in navigating the complex 340B regulatory environment. ... --> James R. Love , CEO of ...
Breaking Medicine Technology:
(Date:2/12/2016)... , ... February 12, 2016 , ... The law firm ... and Evangeline Parishes. The purpose of these scholarships is to encourage applicants to ... individuals to seek employment within these two parishes. , “We have available jobs ...
(Date:2/12/2016)... ... ... Each year, the American Physical Therapy Association (APTA) offers a Combined Sections ... Center. Almost 10,000 physical therapists across the country are expected to attend this annual ... chosen field and network with their colleagues. As in years past, HydroWorx is ...
(Date:2/12/2016)... ... February 12, 2016 , ... ... (WaaS), today announced the integration of Clarity Intelligence Platform (CIP) into Cielo®, a ... offer real-time business intelligence (BI) to their small and medium business (SMB) clients. ...
(Date:2/12/2016)... ... 2016 , ... Vail knee specialist Robert LaPrade, MD, PhD was ... The list consists of physicians establishing, leading and partnering with ambulatory surgery centers across ... Ambulatory Surgery Center, also known as an ASC, is a modern health care facility ...
(Date:2/12/2016)... ... 2016 , ... For Coast Dental dentist Everet Lake, DDS, the smiles began ... Moore shortly before 7 a.m. to volunteer at Friday’s Dentistry from the Heart event ... skills to help hundreds of uninsured and underinsured people receive much-needed dental care. ...
Breaking Medicine News(10 mins):