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Bionovo Announces the Pricing of Public Offering of Shares of Common Stock
Date:10/26/2007

EMERYVILLE, Calif., Oct. 26 /PRNewswire-FirstCall/ -- Bionovo, Inc. (Nasdaq: BNVI) (the "Company") today announced that it has priced a public offering of 10,000,000 shares of common stock at a price to the public of $2.50 per share and 5,000,000 warrants to purchase shares of common stock at $3.50 per share at a price of $0.10 per warrant. The Company has granted a 30-day option to the underwriters to purchase up to an additional 15% of the offering to cover over-allotments. The net proceeds to the company of the offering are approximately $24.0 million, after payment of underwriting discounts and commissions, but excluding estimated offering expenses.

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

These shares were issued pursuant to an effective shelf registration statement. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering of common stock was made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. Copies of the final 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. A prospectus supplement relating to the offering has been filed with the SEC, and is available along w
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SOURCE Bionovo, Inc.
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