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Merck funds Bionomics with $20 million to progress therapies for cognitive impairment caused by central nervous system disorders
Bionomics has entered into an exclusive research collaboration and license agreement with Merck, known as MSD outside the United States and Canada, for its BNC375 research program targeting cognitive dysfunction associated with Alzheimer’s disease and other central nervous system conditions.
Under the agreement, Merck will fund all research and development, including clinical development, and will be responsible for worldwide commercialization of any products from the collaboration. Bionomics will receive upfront payments totaling $20 million and is eligible to receive up to $506 million for achievement of certain research and clinical development milestones and undisclosed royalties on any product sales.
“We believe that the combination of Bionomics’ innovative approach and technologies, within its ionX platform, has the potential to rapidly advance new treatments,” said Deborah Rathjen, CEO and managing director of Bionomics, in a press release.
The agreement is the second collaboration between the companies. In July 2013, Bionomics announced an option and license agreement with Merck to discover and develop novel small molecule candidates for the treatment of chronic pain, including neuropathic pain. Under the terms of that agreement, Merck has the option to exclusively license a compound from Bionomics for development and commercialization.