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Additional Information

Market:	ASX
Sector:	Pharma & Biotech
EPIC:	BNO
Latest Price:	0.42 (2.44% )
52-week High:	0.74
52-week Low:	0.37
Market Cap:	144.79M

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Bionomics

Bionomics (ASX: BNO) is an Australian based international biotechnology company focused on the discovery and development of innovative small molecule therapeutics forcancer, diseases of the central nervous system (“CNS”) and immune disorders.

The company has generated multiple drug candidates and targets in the therapeutic areas of cancer, anxiety, multiple sclerosis and epilepsy. The company has a strong out-license record in conjunction with its in-house development program which has seen two highly promising drugs enter clinical trials in the past two years.

Edison Investment Research maintains valuation of Bionomics

Monday, June 28, 2010 by Proactive Investors

Code BNO/BMICY
Listing ASX/NASDAQ
Sector Biotech
Shares in issue 318.1m
Debt/Equity (%) N/A
NAV per share (c) 8.2
Net cash (A$m) 10.1

Bionomics is selecting doses for two planned Phase Ib studies of its anxiety compound BNC210, which are due to begin enrolment shortly and are expected to report results in Q1 next year. The studies will be conducted in healthy volunteers, but will provide some efficacy data through use of an induced-anxiety model and measurement of cortisol.

Meanwhile, Phase II studies of the VDA BNC105 in renal carcinoma and mesothelioma are both recruiting well and should provide some interim data in late 2010 and early 2011 respectively. These data are likely to be important in Bionomics’ efforts to establish a corporate partnership.

Two Phase Ib studies of BNC210 planned

Bionomics is finalising plans to undertake two Phase Ib trials of BNC210. The first of the new trials will evaluate BNC210 effects when anxiety is induced in healthy subjects and the second trial will evaluate BNC210 effects on the brain using EEG measurements. Both studies will measure cortisol and other biomarkers of anxiety.

ASCO presentation should raise BNC105 profile

Bionomics continues to raise the profile of BNC105, capitalising on the unexpected boost to its competitive position in the VDA class with the failure of the ATTRACT-1 study of Novartis/Antisoma’s ASA404. Data from Phase I studies of BNC105 were presented at ASCO.

Cash: Funded for two years

Forecast cash of A$13m (net cash of A$10.1m) as at 30 June 2010 is sufficient to fund the company for the next two years and support the trial programmes for BNC105 and BNC210, providing a window for Bionomics to partner one or both products.

Valuation: Valuation of A$175m based on risked NPV

"We maintain our A$175m valuation of Bionomics based on a risk-adjusted netpresent value of the two key programmes. This is derived from our assessment of the potential economic reward and timelines associated with the successful development of BNC105 and BNC210," the Edison Investment Research reported.

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