Thiel and Novogratz to invest in biopharma firm

As 54.5 million new shares are being sold in Australia-based biopharma company Bionomics, officials involved announced that hedge fund legends Peter Thiel and Michael Novogratz are among the latest investors in the company. Apeiron Investment Group said it introduced the Thiel and Novogratz to the company as well as Jason Camm, managing director of lifesciences at Thiel Capital to Bionomics. Thiel is a co-founder in PayPal and was FaceBook’s first investor. After founding PayPal, he founded a global macro hedge fund called Clarium Capital. Novogratz is currently running his own cryptocurrency firm Galaxy Digital Holdings, but is well known in the hedge fund industry for his work at Fortress Investment Group. The investors alongside Aperion will subscribe for ordinary shares as part of the scheduled second placement in a transaction will total approximately AUD$8.7 million based on the company’s current stock price of AUD$0.16 per share. The transaction comes as the company has the funds to it needs to make progress in its Phase II clinical trials of a drug BNC210 for treatment of PTSD. The drug recently received Fast Track Designation from the U.S. FDA.Bionomics is also partnering with Merck US on several compounds for the treatment of cognitive deficits in Alzheimer’s and Schizophrenia. Additionally, the company has oncology assets undergoing Phase II clinical trials funded by Bristol Myers-Squibb and other pharma partners. Besides treatments for cancer and Alzheimer’s, Bionomics is working on drugs for other central nervous system disorders such as anxiety and depression. In addition to its headquarters in Adelaide, Australia, the company has operations in San Diego, California and a wholly owned subsidiary in Strasbourg, France.

Thiel and Novogratz to invest in biopharma firm

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