Merck Serono buys Bionomics MS drug

In a licensing and development deal with Australia's Bionomics, Switzerland-based Merck Serono, part of German drug major Merck KGaA, has acquired rights to its multiple sclerosis and other autoimmune treatment candidates from the firm's program which targets the potassium ion channel Kv1.3.

Under the terms of the agreement, Bionomics will receive $2.0 million upfront as well as committed research funding. Merck Serono intends to choose compounds from the Australian firm's pool of candidates and, for each one selected, Bionomics may receive milestones of up to $47.0 million based on successful development and commercialization. The latter will also be eligible for undisclosed royalties on net sales of any products that are brought to the market.