Sale of Bionomics’ French Subsidiaries to Domain Therapeutics
BIONOMIC LTD PAR ORD (BNOEF)
Company Research
Source: Business Wire
ADELAIDE, Australia--(BUSINESS WIRE)--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 p
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