Bionomics says Merck & Co to buy stake for $9 million; extend partnership on pain medication

8 October 2015

Australia's Bionomics Limited (ASX: BNO) said US pharma giant Merck & Co (NYSE: MRK) will buy about 21.7 million shares in the company for a total of $9 million and extended the partnership to develop new pain medication.

Bionomics’ chief executive Dr Deborah Rathjen said: “The extension of our agreement with Merck & Co on the discovery and development of novel small molecule candidates for the treatment of chronic and neuropathic pain reflects the solid progress made by the Bionomics’ team as we strive to deliver therapies with the potential to make a significant difference in the lives of patients.”

Iain Dukes senior vice president, business development and licensing Merck Research Laboratories, said: “At Merck & Co, establishing strong long-term external collaborations is central to our business development strategy. We have been impressed with the progress made by Bionomics to date on both our cognition and pain programs and look forward to advancing these programs further.”

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