News

OPTIONS UNDERWRITING

16 December 2008; Adelaide, Australia: Bionomics Limited (ASX:BNO), today announced that following the achievement of major milestones in 2008 and with clinical trial and partnership prospects in 2009, institutional and other shareholders have shown their confidence in Bionomics and committed to exercise and/or subscribe for additional BNOOB options at $0.22, which expire on 31 January 2009.

The support by existing shareholders and optionholders for a minimum of 15,000,000 shares, underpins the appointment of Phillip Capital Pty Ltd to manage the underwriting of the exercise of up to 31,535,063 BNOOB options, to raise up to $6,937,714. The final Underwritten Amount will be announced in January 2009.

As indicated at the Company's AGM held on 5th November, the outlook for 2009 includes the following milestones:

• Completion of the current Phase I trial of BNC105 and reporting of results
• Progression of BNC105 to Phase II clinical trial.
• Achieve a second major partnership.

Dr Peter Jonson Chairman of Bionomics said "This funding will take the Company forward, continuing the development of BNC105 and securing a major deal, which are our significant objectives for 2009. We are pleased with the early show of support over six weeks before the expiry of BNOOB options, including an investment by a specialist life science investment fund."

Phillip Capital Pty Ltd and Intersuisse Ltd, an ASX Market Participant, will receive the following fees in respect of this issue; an underwriting fee of 6% of the Underwritten Amount out of which fees will be paid to sub-underwriters, plus a corporate fee of $30,000 and a Management fee of 2% of the Underwritten Amount.

FOR FURTHER INFORMATION PLEASE CONTACT:
Bionomics Limited
Dr Deborah Rathjen
CEO & Managing Director
+618 8354 6101 / 0418 160 425
drathjen@bionomics.com.au

About Bionomics Limited

Bionomics (ASX: BNO) discovers and develops innovative therapeutics for cancer and diseases of the central nervous system. Bionomics has small molecule product development programs in the areas of cancer, anxiety, epilepsy and multiple sclerosis. Bionomics' most advanced program, BNC105 for the treatment of cancer, is based upon the identification of a novel compound that potently and selectively restricts blood flow within tumours. Bionomics' discovery and development activities are driven by its three technology platforms: Angene®, the company's angiogenesis target and drug discovery platform, incorporates a variety of genomics tools to identify and validate novel angiogenesis targets. MultiCore® is Bionomics' proprietary, diversity orientated chemistry platform for the discovery of small molecule drugs. ionX® is a set of novel technologies for the identification of drugs targeting ion channels for diseases of the central nervous system.

For more information about Bionomics, visit www.bionomics.com.au

Factors Affecting Future Performance

This announcement contains "forward-looking" statements within the meaning of the United States' Private Securities Litigation Reform Act of 1995. Any statements contained in this press release that relate to prospective events or developments are deemed to be forward-looking statements. Words such as "believes," "anticipates," "plans," "expects," "projects," "forecasts," "will" and similar expressions are intended to identify forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by these forward-looking statements, including risks related to the clinical evaluation of BNC105, BNC210, our available funds or existing funding arrangements, a downturn in our customers' markets, our failure to introduce new products or technologies in a timely manner, regulatory changes, risks related to our international operations, our inability to integrate acquired businesses and technologies into our existing business and to our competitive advantages, as well as other factors. Subject to the requirements of any applicable legislation or the listing rules of any stock exchange on which our securities are quoted, we disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.

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