Bionomics provides update on Merck collaboration

Bionomics (BNOX) announced an update on the company’s alpha7 Nicotinic Acetylcholine Receptor Positive Allosteric Modulator collaboration with Merck (MRK). Data for MK-4334, a novel clinical candidate developed by MSD and derived from Bionomics’ original alpha7 nAChR PAM candidate, was recently presented at the Society for Chemical Industry and Royal Society of Chemistry 22nd Medicinal Chemistry Symposium, held in Cambridge, UK, September 10-13. Bionomics has a long-standing collaboration with MSD to identify novel alpha7 nAChR PAMs suitable for the treatment of cognitive disorders that address the limitations seen with nAChR agonists. MSD has subsequently developed MK-4334, a novel clinical candidate, which in early preclinical studies has shown improved drug like and pharmacological properties relative to BNC375. Under the 2014 exclusive Research Collaboration and License Agreement, MSD funds all research and clinical development, and worldwide commercialization of any resulting products. This collaboration generated payments of $20M upfront and $10M for a Phase 1 milestone. Bionomics is eligible to receive up to $465M in additional milestone payments for certain development and commercial milestones plus royalties on net sales of licensed drugs.