Ironwood Pharmaceuticals, Bionomics' licensee, has commenced Phase I trial of investigational IW-2143 anxiety drug in the US, subsequent to the submission of an Investigational New Drug application to FDA.
The trial will evaluate the safety and pharmacokinetic profile of single and multi-dose administration of IW-2143, which was discovered by Bionomics, in healthy volunteers.
Bionomics CEO and managing director Dr Deborah Rathjen said the trial is the first US clinical trial of IW-2143.
"As this trial progresses it is anticipated that a US$2 million milestone payment to Bionomics by Ironwood will be triggered," Rathjen added.
Ironwood will develop and commersialize IW-2143 and related compounds and will pay for the costs of clinical development.