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Bionomics Limited (ASX:BNO) Bionomics NOW February 2011 Newsletter

Bionomics NOW February 2011 Newsletter
 
In this issue
- UK analyst values Bionomics at $235 Million
- Bionomics amongst Bioshares’ top stock picks for 2011
- BNC105 presented at the Lorne Cancer Conference
- JP Morgan Conference Report
 
CEO Report
 
Dear Shareholders
 
With 2011 now in full swing this update has been prepared to inform you of your company’s progress since the previous newsletter in December last year.
 
Edison Investment Research has upgraded its valuation of Bionomics to $235 million (73 cents per share) and one of Australia’s leading biotech investments publications, Bioshares, has listed Bionomics amongst its top 10 biotech stock picks for 2011. Recent presentations in San Francisco have highlighted further developments in our drug discovery and development pipeline to global pharmaceutical companies and US investors, as we pursue our partnership strategies for BNC105 and BNC210.
 
We anticipate new data from our two clinical trials of BNC210 this quarter. BNC210 is a potentially groundbreaking “first in class” drug candidate which is potent across a broad range of anxiety and depression models and with a very wide therapeutic window. The data from the trials is eagerly awaited. If positive, the value of BNC210 from a licensing perspective will substantially increase.
 
In the BNC105 program we expect the release of initial data from both our renal and mesothelioma cancer trials in the second quarter of 2011. The projected timeline for the BNC105 trial in renal cancer patients has moved due to the need to recruit additional patients. Patients enrolled in the renal cancer trial are in the late stage of their disease with poor health status. In some cases this necessitated withdrawal from the trial over the holidays and replacements brought into the trial.
 
In January two additional clinical trial sites were initiated in New York and New Mexico and these are expected to contribute strongly to patient recruitment into this trial. I hasten to add that BNC105 has been well tolerated by patients in both the renal and mesothelioma trials with individual patients continuing treatment for over 9 months at this time.
 
This month the science team presented three posters at the 23rd Lorne Cancer Conference covering the discovery of BNC105, biomarker data from the Phase I clinical trial and data  demonstrating the vascular disrupting activity (VDA) of BNC105 on preclinical renal cancer models.
 
To read the full Bionomics NOW newsletter, please view the ASX announcement.
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