Bionomics Receives AUS$1M Milestone Payment from Carina Biotech

November 5, 2024

DENVER, Colo., Nov 05, 2024 (247marketnews.com)- Bionomics (NASDAQ: BNOX) reported receiving a AUS$1 million milestone payment from Carina Biotech for BNC101, a clinical-stage immuno-oncology company developing CAR-T and other cell therapies for the treatment of solid cancers, under the terms of the exclusive, worldwide license agreement for BNC101, a monoclonal antibody targeting the cancer stem cell antigen LGR5.

Per the agreement terms, Bionomics is eligible to receive up to approximately AUS$118 million in certain development, regulatory and commercial milestone payments if Carina Biotech fully develops and markets the new therapy.

Spyros Papapetropoulos, M.D., Ph.D., President and CEO of Bionomic, commented, “This milestone payment from Carina Biotech is another testament to the strong research capabilities which have spawned from Bionomics’ scientific expertise, and we are very pleased to receive this payment as part of the research collaborations we have ongoing for our legacy oncology program.

“In addition to the partnered oncology programs we have, our long-standing strategic partnership with Merck for the development of α7 receptor PAMs targeting cognitive dysfunction associated with Alzheimer’s disease and other central nervous system conditions valued at ~US $500M, is quickly advancing and we look forward to its anticipated Phase 2 studies initiation in the near future, triggering a sizable milestone payment for Bionomics.”

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