Ironwood Pharmaceuticals and Bionomics Announce Collaboration, Research, and License Agreement
January 04 2012 - 5:00PM
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 1800123296 Hong Kong 800908865 New
Zealand 0800452782 Singapore 8006162288 United Kingdom 08082340757
United States 18552931544 All other locations + 61283148370
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.
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