Navigation Links
Bioniche Provides a Corporate Update
Date:4/27/2009

BELLEVILLE, ON, April 27 /PRNewswire-FirstCall/ - Bioniche Life Sciences Inc. ("Bioniche"; TSX: BNC), a research-based, technology-driven Canadian biopharmaceutical company, today provided an update on its corporate activities.

One of the near-term objectives of the Company, as reported in previous financial disclosures, is the conclusion of a partnering transaction related to its Mycobacterial Cell Wall-DNA Complex (MCC), formulated as Urocidin(TM), for the intravesical treatment of non-muscle-invasive bladder cancer. While the Company has received significant interest in Urodicin from a number of potential partners, it has not yet finalized a transaction and the timeline for doing so has exceeded management's expectations. Given such delays and the Company's near-term cash needs, the Board of Directors has decided to broaden its fundraising strategies to include possible asset dispositions.

In addition, the Company has amended the maturity date of its existing secured revolving credit facility with Valens U.S. (formerly Laurus Master Funds) to June 30, 2009. Bioniche and Valens agreed to this extension to allow the Company time to identify new banking partner(s) after Valens decided to retrench its activities due to credit market conditions, as well as to allow the Company to execute its near-term corporate objectives. This amendment will replace the previously agreed "on demand" status, with an additional fee applicable at maturity of the facility.

The Company is also expanding internal cost cutting measures introduced during the past two fiscal quarters to help address its near-term liquidity requirements.

The Company expects to release its Fiscal 2009 third quarter financial results on May 6, 2009.

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 approximately 200 skilled personnel and has three operating divisions: Human Health, Animal Health, and Food Safety. The Company's primary goal has been 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 2009. 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.


'/>"/>
SOURCE Bioniche Life Sciences Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Bioniche Completes Recruitment in First Phase III Clinical Trial with Urocidin(TM)
2. Bioniche Revolving Credit Facility Maturity Date Amended
3. Bioniche Phase II Bladder Cancer Trial Results Published in The Journal of Urology
4. Bioniche Warrants Expiration Date to be Extended
5. Bioniche Reports Fiscal 2009 Second Quarter
6. Bioniche Invited to Participate in Canadian Beef Value Chain Roundtable
7. Bioniche Named One of the Top 50 Best Small and Medium Employers in Canada
8. Bioniche Presents MCC Data at the SIU World Uro-Oncology Update in Santiago, Chile
9. Bioniche Reports Fiscal 2009 First Quarter
10. Bioniche Allows Conversion of Portion of Revolving Credit Facility
11. Bioniche Presents E. coli O157:H7 Vaccine Data to World Buiatrics Congress in Budapest, Hungary
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... ... June 27, 2016 , ... A revolution is underway. ... transport experience for the millions of people who require these medical transport services ... industry through the use of technology. Now, SmartEMS has put forth an industry-changing ...
(Date:6/26/2016)... (PRWEB) , ... June 26, 2016 , ... PawPaws ... a new product that was developed to enhance the health of felines. The formula ... , The two main herbs in the PawPaws Cat Kidney Support Supplement ...
(Date:6/25/2016)... ... June 25, 2016 , ... The temporary closing of Bruton Memorial Library on June ... , brings up a new, often overlooked aspect of head lice: the parasite’s ability to ... is not a common occurrence, but a necessary one in the event that lice have ...
(Date:6/25/2016)... ... 2016 , ... On Friday, June 10, Van Mitchell, Secretary of the Maryland ... iHire in recognition of their exemplary accomplishments in worksite health promotion. , The Wellness ... & Wellness Symposium at the BWI Marriott in Linthicum Heights. iHire was one of ...
(Date:6/24/2016)... ... June 24, 2016 , ... Marcy was in a crisis. Her son James, eight, was out ... family verbally and physically. , “When something upset him, he couldn’t control his emotions,” remembers ... would throw rocks at my other children and say he was going to kill them. ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... 2016 Dehaier Medical Systems Ltd. (NASDAQ: ... markets and sells medical devices and wearable sleep respiratory ... strategic cooperation agreement with Hongyuan Supply Chain Management Co., ... June 20, 2016, to develop Dehaier,s new Internet medical ... Dehaier will leverage Hongyuan Supply Chain,s sales platform to ...
(Date:6/24/2016)... , June 24, 2016 Research ... World Market for Companion Diagnostic Tests" report to their ... Market for Companion Diagnostics The World Market ... and personalized medicine diagnostics. Market analysis in the report includes ... Test Market (In Vitro Diagnostic Kits) by Region (N. America, ...
(Date:6/24/2016)... 24, 2016   Pulmatrix, Inc ., (NASDAQ: ... inhaled drugs, announced today that it was added to ... its comprehensive set of U.S. and global equity ... an important milestone for Pulmatrix," said Chief Executive Officer ... of our progress in developing drugs for crucial unmet ...
Breaking Medicine Technology: