Bionomics Acquires US-Based Cancer Stem Cell Company Eclipse Therapeutics
Acquisition provides Bionomics with cancer stem cell technology and antibody drug candidates
Bionomics Limited has acquired San Diego-based private biotechnology company Eclipse Therapeutics Inc in a scrip-based US$10 million deal. With consideration of approximately 23.9 million shares at 41.76 cents per share, Eclipse shareholders, that include NASDAQ-listed Biogen Idec, will own approximately 6.5% of Bionomics’ issued capital.
A spin-off of the Biogen Idec Inc oncology franchise, Eclipse is developing drug candidates that target cancer stem cells (CSCs). CSCs are the seeds at the root of the cancer, and CSC technology is thus viewed by many oncologists and pharmaceutical companies as a high priority, new oncology drug frontier.
Eclipse’s lead compound ET101 is aimed at an undisclosed CSC target which is over-expressed on most solid tumours. ET101 is expected to move into human trials in 2014. In March 2012 Eclipse reached a development and manufacturing agreement for production of the ET101 antibody with Swiss life science leader Lonza Group Limited.
“This acquisition elevates and expands Bionomics’ oncology pipeline beyond BNC105, our primary cancer drug candidate which is now at advanced clinical stages. It also establishes Bionomics as a global leader at the forefront of cancer stem cell therapeutics,” said Dr Deborah Rathjen, CEO and Managing Director of Bionomics.
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