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          August 25, 2010
August 20, 2010
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Corporate News ReleaseBioniche Plans to Liquidate Two Remaining Assets Associated with Irish Pharma Group
07/11/06 BELLEVILLE, ON, November 7, 2006 – Bioniche Life Sciences Inc. (TSX: BNC), a research-based, technology-driven Canadian biopharmaceutical company, today announced that it has reached an agreement to sell two of its remaining assets associated with Bioniche Pharma Holdings Limited, the entity which now holds the shares of Bioniche Pharma Group Limited. The Company has agreed with Bioniche Pharma Holdings Limited and the shareholders of that company to sell its 10% ownership position in Bioniche Pharma Holdings and its annual royalty payments for each of the next five years related to sales of Suplasyn® for a total of $6 million USD. Suplasyn® is a proprietary product for the treatment of osteoarthritis in human joints that was developed by the Company. The Company’s Board of Directors has deemed these two assets as “non-core” in the context of corporate priorities. The $6 million USD generated from their sale will be used to support the Company’s strategic research and development projects, including partial repayment of its outstanding debt facilities. “This is a critical point in the development of Bioniche,” said Graeme McRae, President & CEO of Bioniche Life Sciences Inc. “Resources must remain focused on two priorities: our proprietary cancer treatment that is entering Phase III trials and our E. coli O157:H7 cattle vaccine that is seeking marketing registrations. In human cancer, Mycobacterial Cell Wall-DNA Complex (MCC) – trademarked Urocidin - has been authorized by the United States Food and Drug Administration to begin a Phase III clinical program in non-muscle invasive bladder cancer. The Company believes there to be a large and unmet medical need in the treatment of this type of cancer. The E. coli O157:H7 cattle vaccine has been tested for safety and efficacy in more than 30,000 animals and is demonstrating reductions in colonization and shedding of the bacteria by cattle. E. coli O157:H7 is a mutant strain of bacteria that releases toxins highly dangerous to humans. Exposure to these bacteria in food or water is regularly implicated in outbreaks of human disease. After the sale of the above two assets, Bioniche will retain its potential earnout payments that relate to certain Bioniche Pharma Holdings performance targets. The Company expects the transaction to be completed in December, 2006. ###
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