BIONOMICS' SHAREHOLDERS ENDORSE ILIAD ACQUISITION

At a general meeting in Adelaide, shareholders of Bionomics gave their formal support to the company's acquisition of Iliad Chemicals and a $6 million capital raising. Both motions attracted comprehensive support with over 99 percent voting in favour of the acquisition and over 96 percent in favour of the capital raising. Bionomics announced last month that it had reached agreement to acquire the unlisted Melbourne drug discovery company Iliad Chemicals for $9 million in Bionomics scrip (at A$0.22 per Bionomics share), with a potential further $3 million payment in Bionomics scrip (also at A$0.22 per Bionomics share) if a current Iliad development product achieves agreed milestones.

PharmaLive (http://www.pharmalive.com/News/index.cfm?articleid=251562&categoryid=36%2C61)