Bionomics chairman to step down

Bionomics (ASX:BNO) chairman Chris Fullerton has revealed plans to step down, after three years at the head of the board.

Fullerton will retire from the Bionomics board on December 31, the company announced in an ASX filing. He has indicated a desire to “devote time to new ventures.”

The board has identified Graeme Kaufman as its favoured successor, and will seek to have his appointment confirmed during the company's AGM on November 14.

Fullerton said Kaufman “has both detailed biotech management experience and a global exposure to investors and industry contacts that make him ideally qualified to chair Bionomics.”

Bionomics last month announced a deal to acquire US-based cancer stem cell drug development company Eclipse Therapeutics for US$10 million ($9.74 million) in shares. The company has its own cancer program in BNC105, a compound at the clinical trial stage.

Bionomics (ASX:BNO) shares were trading unchanged at $0.325 as of around 3pm on Thursday.