Bionomics (BNOX) Soars After Securing AUS$1M Milestone Payment from Carina Biotech; Shares Up 185%

Bionomics Limited (NASDAQ: BNOX), a biotech company specializing in treatments for central nervous system disorders, has received a milestone payment of AUS$1 million from Carina Biotech. This payment is part of an exclusive worldwide license agreement for BNC101, a monoclonal antibody targeting the cancer stem cell antigen LGR5, which Carina is investigating for CAR-T cell therapies in solid cancers, including metastatic colorectal cancer. The deal includes further potential payments that could total around AUS$118 million in development, regulatory, and commercial milestones.

Bionomics’ CEO, Dr. Spyros Papapetropoulos, highlighted the payment as validation of the company’s scientific expertise. Bionomics stands to receive additional royalties and a share of sublicensing revenues under the agreement. The company is also advancing its lead candidate, BNC210, in phase 3 trials for social anxiety disorder and PTSD, and has a strategic partnership with Merck valued at around US$500 million to develop treatments for cognitive dysfunction in Alzheimer’s and other CNS conditions.

In response to this positive news, Bionomics’ shares are up 185% today.