Cuppa I recently attended a meeting at my Brokers office and raised this very question with Deborah Rathjen. My research indicates that Ironwood is having a crisis and is undertaking a review and reorganisation in the US. There has been little or no work done with this drug for some time nor is it planned in the near future. Ms Rathjen did not disagree. My question to Ms Rathjen was as Ironwood is having its own troubles is there a 'get-out' clause to enable Bionomics to recover control of BNC210 and partner with someone else. She was very evasive and I gathered from her reply that they had lost control of the drug and could not recover it. It was also revealed from my questioning that Ironwood can sub-licence the drug for trialling to another company and that Bionomics can do little if anything to stop them. I regarded BNC210 as the most promising discovery in their stable and could not believe it when they went with Ironwood. After the meeting I was resigned to the fact that this drug will not have any advancement in trials unless Ironwood sub-licence it to someone else as they do not have the funds available to proceed and are also moving in a different direction in their research portfolio.
BNO Price at posting:
42.0¢ Sentiment: None Disclosure: Held
