Companies to Collaborate on Central Nervous System Disorder
Opportunity
CAMBRIDGE, Mass. & ADELAIDE, Australia--(BUSINESS WIRE)--
Ironwood Pharmaceuticals, Inc. (NASDAQ: IRWD) and Bionomics Limited
(ASX: BNO) today announced that they entered into a collaboration,
research, and licensing agreement that will enable Ironwood to develop
and commercialize Bionomics' investigational anti-anxiety compound
BNC210 and other related compounds. The goal of the collaboration is to
evaluate the compound's potential as a novel anti-anxiety treatment.
Data from several preclinical studies indicate that BNC210 has
anti-anxiety activity without the sedative side effects that are typical
of benzodiazepines, a class of drugs used to treat anxiety. These data
are further strengthened by Phase 1 clinical studies, where
pharmacodynamic markers of anti-anxiety activity without sedation were
observed in healthy volunteers who took a single dose of BNC210. This
collaboration furthers both companies' commitment to develop innovative
treatments for patients with high unmet need.
Under the terms of the agreement, the companies will collaborate on
initial research and Ironwood will be responsible for worldwide
development and commercialization of all products incorporating BNC210
or other licensed compounds, including funding of clinical trials.
Pending achievement of certain development and regulatory milestones,
Bionomics could receive up to US$345 million in upfront and milestone
payments and research funding, as well as royalties on sales of products
incorporating BNC210 and other related compounds. Over the next 24
months, Bionomics may receive up to US$13 million in research funding
and milestone payments, including an initial payment of US$3 million.
"Partnering BNC210 has been a major objective for Bionomics, and this
collaboration with Ironwood continues Bionomics' strategy to form
partnerships to develop and commercialize its proprietary drug
candidates," said Deborah Rathjen, Bionomics CEO and managing director.
"This partnership with Ironwood furthers Bionomics' position as an
innovative biotech company, advancing pioneering drug discovery and
leveraging Ironwood's significant clinical expertise and patient-centric
approach to drug development to enable the further clinical development
of BNC210 for the treatment of anxiety."
"We are happy to announce this collaboration with Bionomics, a company
with scientific expertise in drug discovery in the central nervous
system area, and a strong team of small molecule chemists," said Mark
Currie, senior vice president, R&D and chief scientific officer of
Ironwood. "We continue to add to our early development pipeline through
internal efforts and external collaborations. This partnership reflects
our commitment to developing and commercializing innovative treatments
for patients suffering from highly symptomatic disorders."
Further Bionomics Shareholder Communication
Bionomics will host a conference call for the investment community at
9:30 a.m. Australian Eastern Daylight Time on January 5, 2012 to discuss
this agreement. Individuals interested in participating in the call
should dial:
Australia |
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1800123296
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Hong Kong |
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800908865
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New Zealand |
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0800452782
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Singapore |
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8006162288
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United Kingdom |
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08082340757
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United States |
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18552931544
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All other locations
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+ 61283148370
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Quote conference ID number 39972512.
About BNC210
Data from several preclinical studies indicate that BNC210, through
modulation of a novel pathway, has anti-anxiety activity and promotes
neurite outgrowth in vitro. In a Phase 1 study that compared
BNC210 with lorazepam, healthy volunteers who took BNC210 had no
evidence of impaired attention when compared with when they took
lorazepam. Electroencephalography (EEG) data gathered on healthy
subjects dosed with BNC210 in the study provided pharmacodynamic
evidence of anti-anxiety activity without sedation.
About Ironwood Pharmaceuticals
Ironwood Pharmaceuticals (NASDAQ: IRWD) is an entrepreneurial
pharmaceutical company dedicated to the art and science of great
drugmaking. Linaclotide, Ironwood's GC-C agonist, is an investigational
drug for the treatment of irritable bowel syndrome with constipation
(IBS-C) and chronic constipation (CC). The efficacy portion of
linaclotide's development program has been completed and supports the
recently submitted NDA for both indications, as well as the MAA
submission in Europe for the IBS-C indication. Ironwood also has a
growing pipeline of additional drug candidates in earlier stages of
development. Ironwood is located in Cambridge, Mass. To learn more,
visit www.ironwoodpharma.com.
About Bionomics
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 Alzheimer's disease and multiple sclerosis. Bionomics'
discovery and development activities are driven by its three technology
platforms: Angene®, a drug discovery platform which
incorporates a variety of genomics tools to identify and validate novel
angiogenesis targets (involved in the formation of new blood vessels).
MultiCore® is Bionomics' proprietary, diversity orientated
chemistry platform for the discovery of small molecule drugs. ionX®
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 www.bionomics.com.au.
This press release contains forward looking statements, and investors
are cautioned not to place undue reliance on such statements. Such
statements include, but are not limited to, statements regarding
Ironwood's rights to develop or commercialize any product incorporating
Bionomics' compounds (including BNC210), the possibility that BNC210 or
any other related compound enters clinical trials and Ironwood's
obligations to make milestone payments and royalties if products are
successfully developed or commercialized. Each forward looking statement
is subject to risks and uncertainties that could cause actual results to
differ materially from those expressed or implied in such statement.
Applicable risks and uncertainties include the risks that the goals of
the initial research collaboration are never satisfied or take longer
than anticipated to achieve, that completion of the initial research
takes more time or results in more expenses than anticipated, that
Ironwood chooses not to develop or commercialize a product, that the
program does not successfully complete preclinical or clinical
development, or that either party commits a material breach of the
agreement. Applicable risks also include those that are listed in
Ironwood's Quarterly Report on Form 10-Q for the three months ended
September 30, 2011, in addition to the risk factors that are listed from
time to time in Ironwood's subsequent SEC filings. Neither party
undertakes an obligation to update these forward looking statements to
reflect events or circumstances occurring after this press release.
These forward looking statements speak only as of the date of this press
release. All forward looking statements are qualified in their entirety
by this cautionary statement.
Ironwood Pharmaceuticals, Inc.
Susan Brady, 617-621-8304
Corporate
Communications
[email protected]
or
Bionomics
Limited
Corporate Inquiries
Dr Deborah Rathjen,
+618 8354 6101 / 0418 160 425
CEO & Managing Director
[email protected]
or
Media
Inquiries
Monsoon Communications
Rudi Michelson, +613 9620
3333
[email protected]
or
U.S.
Investor Inquiries
The Trout Group
Lauren Glaser, +1
646-378-2972
[email protected]
Source: Ironwood Pharmaceuticals, Inc. and Bionomics Limited
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