Bioniche Life Sciences Inc. Enters into a Distribution Agreement for New Animal Health Products in Australia
- Bioniche appointed exclusive Australian distribution of four products -
BELLEVILLE, ON, March 22, 2012 - Bioniche Life Sciences Inc. (TSX: BNC) (ASX: BNC), a research-based, technology-driven Canadian biopharmaceutical company, today announced that it has entered into a distribution agreement with a U.S.-based veterinary pharmaceutical company to expand Bioniche's product offerings in Australia.
The supplier is providing Bioniche with exclusive distribution rights for four registered injectable animal health products in Australia:
- Respiram™ - a respiratory stimulant for dogs, cats and horses, used during and after anaesthesia or for neonatal dogs and cats following dystocia (difficult labour) or caesarian section
- Cepetor™ - a sedative and analgesic for dogs and cats
- Revertor™ - for the reversal of the clinical effects of medetomidine in dogs and cats
- Cepesedan™ - for use as a sedative and analgesic to facilitate minor surgical and diagnostic procedures in horses
"These products are important additions to our product portfolio in Australia, where we are already strong in equine products and are increasing our focus on the companion animal space," said Mr. Andrew Grant, President of Bioniche Animal Health (global). "We estimate the Australian market for products of this type to be up to A$11 million and, given that these products are already registered, we expect to start to see revenues within a few months."
About Bioniche Life Sciences Inc.
Bioniche Life Sciences Inc. is a research-based, technology-driven Canadian biopharmaceutical company focused on the discovery, development, manufacturing, and marketing of proprietary products for human and animal health markets worldwide. The fully-integrated company employs 214 skilled personnel and has three operating divisions: Human Health, Animal Health, and Food Safety. The Company’s primary goal is to develop proprietary cancer therapies supported by revenues from marketed products in human and animal health. Bioniche has been named one of the Top 50 Best Small and Medium-Sized Employers in Canada for 2010. For more information, please visit www.Bioniche.com.
Except for historical information, this news release may contain forward-looking statements that reflect the Company’s current expectation regarding future events. These forward-looking statements involve risk and uncertainties, which may cause, but are not limited to, changing market conditions, the successful and timely completion of clinical studies, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process, and other risks detailed from time to time in the Company’s ongoing quarterly and annual reporting.
For further information, please contact:
Jennifer Shea, Vice-President, Communications, Investor & Government Relations
Bioniche Life Sciences Inc.
Telephone: (613) 966-8058
Cell: (613) 391-2097