0411 GMT [Dow Jones] Successful pre-clinical studies of Bionomics (BNO.AU) cancer
drug BNC105, which showed it could be coupled with other drugs to treat tumors more
effectively, have reinforced Bell Potter's bullish view of the stock. BNC105 is a
vascular targeting agent, which acts by cutting blood supply to tumors. The Australian
company found its combination with drugs that encourage the immune system to attack tumor
cells led to a far greater inhibition of tumor growth in animals. The company's
targeting three licensing deals over the next 12-13 months that Bell Potter says could
generate a combined payment of US$965 million, potentially triggering a significant
re-rating of the stock. Bionomics is also developing a treatment for anxiety disorders,
BNC210, which Bell Potter says could become a new "blockbuster drug". It keeps
a buy call and A$1.09 target. BNO is up 1.1% at A$0.45. ([email protected])
BNO Price at posting:
45.0¢ Sentiment: None Disclosure: Not Held
