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news.Ironwood Pharmaceuticals, Bionomics' licensee, has commenced Phase I trial of investigational IW-2143 anxiety drug in the US, subsequent to the submission of an Investigational New Drug application to FDA.
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The trial will evaluate the safety and pharmacokinetic profile of single and multi-dose administration of IW-2143, which was discovered by Bionomics, in healthy volunteers.
Bionomics CEO and managing director Dr Deborah Rathjen said the trial is the first US clinical trial of IW-2143.
"As this trial progresses it is anticipated that a US$2 million milestone payment to Bionomics by Ironwood will be triggered," Rathjen added.
Ironwood will develop and commersialize IW-2143 and related compounds and will pay for the costs of clinical development.