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Ironwood, Bionomics ink research and license agreement

Ironwood Pharmaceuticals has signed a collaboration, research, and licensing agreement with Bionomics.

As per the agreement, Ironwood will develop and commercialize Bionomics’ investigational anti-anxiety compound BNC210 and other related compounds.

Under the collaboration, Bionomics may receive up to $345m in upfront and milestone payments and research funding, as well as royalties on sales of products incorporating BNC210 and other related compounds.

Over the upcoming 24 months, Bionomics may receive up to $13m in research funding and milestone payments, including an initial payment of $3 million.

Bionomics CEO and managing director Deborah Rathjen said the collaboration with Ironwood continues Bionomics’ strategy to form partnerships to develop and commercialize its proprietary drug candidates.

"This partnership with Ironwood furthers Bionomics’ position as an innovative biotech company, advancing pioneering drug discovery and leveraging Ironwood’s significant clinical expertise and patient-centric approach to drug development to enable the further clinical development of BNC210 for the treatment of anxiety," Rathjen added.