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The Unknown Public Biotech Company Backed by Peter Thiel

September 28, 2023
x min read

Peter Thiel is widely considered one of the most visionary early stage investors ever in technology startups.

But he’s also quietly bet on a relatively unknown biotech company that is aiming to treat PTSD.

What’s happening:

  • Australia based biotech company Bionomics (NASDAQ:BNOX) just released clinical data for their novel therapeutic BNC210 which is a treatment for PTSD
  • The data is compelling, suggesting that there were significant improvements in PTSD symptoms within 12 weeks
  • Further their Phase II trial also showed improvements in depressive symptoms and sleep conditions

Why it matters:

The intrigue:

  • This is actually not the first time the trio of Christian Angermayer, Mike Novgratz and Peter Thiel have come together to back a biotech company
  • The three of them previously helped fund leading psychedelic drug discovery companies ATAI Life Sciences (NASDAQ: ATAI) and COMPASS Pathways (NASDAQ: CMPS) together

Market reaction:

  • Shares of Bionomics closed up a staggering 242%

The fine print:

  • Even with the positive clinical trial data Bionomics is still quite a early stage biotech company, with a valuation of just $27 million.

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