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news.Australia-based biopharmaceutical firm Bionomics has entered into an exclusive research collaboration and license agreement with Merck for its BNC375 research program targeting cognitive dysfunction associated with Alzheimer's disease and other central nervous system conditions.
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The company said that BNC375 and related compounds have displayed potent efficacy in animal cognitive impairment models.
As part of the deal, Merck will provide funding for all research and development, including clinical development, and will also be responsible for worldwide commercialization of any products from the collaboration.
The deal will see Bionomics receive upfront payments totalling $20m and is eligible to receive about $506m for achievement of certain research and clinical development milestones and undisclosed royalties on any product sales.
Bionomics CEO and managing director Deborah Rathjen said the company is happy to work with Merck to progress new therapies for cognitive impairment in conditions such as Alzheimer’s disease.
"We believe that the combination of Bionomics’ innovative approach and technologies, within its ionX platform, has the potential to rapidly advance new treatments," Rathjen said.
"Bionomics continues to deliver on its business model that focuses on strategic partnering for the development and commercialisation of selected programs within its pipeline.
"This significant agreement, our second with Merck, further validates our drug discovery platforms."
In July 2013, Bionomics had announced an option and license agreement with Merck to discover and develop small molecule candidates to treat chronic pain, including neuropathic pain.
Under that deal, Merck has the option to exclusively license a compound from Bionomics for development and commercialization.
Merck Research Laboratories head of Early Development and Discovery Sciences Rupert Vessey said, "Bionomics’ capabilities and overall expertise in discovery and characterization of small molecules for this neuroscience target class is impressive."