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Bionovo Announces Proposed Public Offering of Common Stock
Date:9/21/2007

EMERYVILLE, Calif., Sept. 21 /PRNewswire-FirstCall/ -- Bionovo, Inc. (Nasdaq: BNVI) announced that it has filed a preliminary prospectus supplement to an existing shelf registration statement with the Securities and Exchange Commission relating to a proposed public offering of 11,400,000 shares of its common stock. The offering price will be determined by market conditions at the time of pricing in consultation with the underwriters of the offering. In connection with the offering, Bionovo expects to grant its underwriters a 30-day option to purchase up to 1,710,000 shares at the public offering price to cover over-allotments, if any.

BMO Capital Markets Corp. and Canaccord Adams Inc. are acting as joint book-running managers for the proposed offering, with Merriman Curhan Ford & Co. (Amex: MEM) acting as a co-manager.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

Copies of the preliminary prospectus supplement and accompanying prospectus may be obtained from: BMO Capital Markets Corp., Attn: Prospectus Delivery Department, 3 Times Square, New York, New York 10036; Telephone: (212) 702-1969.

Bionovo, Inc.

Bionovo is a pharmaceutical company focused on the discovery and developmen
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SOURCE Bionovo, Inc.
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