Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 32 n° 15

Sale of Bionomics’ French Subsidiaries to Domain Therapeutics

Posted by fidest press agency su domenica, 15 dicembre 2019

Bionomics Limited (ASX:BNO, OTCQB:BNOEF), a global, clinical stage biopharmaceutical company leveraging proprietary platform technologies to discover and develop a deep pipeline of novel drug candidates targeting ion channels, is pleased to announce that the Company has accepted an offer from Domain Therapeutics (“Domain”) for its two wholly owned subsidiaries, Neurofit SAS (“Neurofit”) and PC SAS “(“Prestwick Chemical”), which operate as contract research companies in France.The sale price of €1,810,028.97 is the amount of intercompany debt owed by Bionomics to the subsidiaries for the scientific research conducted by them on Bionomics drug candidates and this debt will be assumed by Domain upon acquisition of the Companies.
“We are pleased with the outcome of the sale of our French subsidiaries which is part of our ongoing cost reduction process, consolidation of our operations in Adelaide and focus on the clinical development of BNC210 for post-traumatic stress disorder,” said Dr. Errol De Souza, Executive Chairman of Bionomics. “We thank Neurofit and Prestwick Chemical for their key contributions to our previous research efforts resulting in several development candidates including our collaboration assets with Merck and our out-licensing assets in other ion channel programs.” The offer from Domain is subject to satisfaction of a number of conditions precedent, including entering into definitive contractual documentation satisfactory to both parties and regulatory approval. Subject to satisfaction of the conditions precedent, the parties anticipate being in a position to complete the transaction on or about 31 January 2020.

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