Bionomics acquires Iliad.

BIOTECH Patent News | May 1, 2005 | Copyright

Bionomics Limited (Australia) has agreed to acquire the unlisted Melbourne drug discovery company Iliad Chemicals Pty Ltd (Melbourne, Australia) for $9 million in Bionomics scrip (at A$0.22 per Bionomics share), with a potential further $3m milestone payment in Bionomics scrip (also at A$0.22 per Bionomics share) if a current Iliad development product achieves an agreed clinical or commercial milestone. Further, Bionomics announced that it had completed a placement, subject to shareholder approval, to fund development programs in cancer and central nervous system (CNS) ...

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