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Bioniche Reports Fiscal 2008 Third Quarter
Date:5/9/2008

million, as compared to cash, cash

equivalents and short-term investments of $11.0 million at June 30,

2007.

- Unused revolving credit facilities of $0.5 million, as compared to

$1.8 million at the end of June 30, 2007.

The Company also invested approximately $546,654, net of government assistance, in property, plant and equipment year-to-date.

Board Chairmanship

At its quarterly meeting held yesterday, the Company's Board of Directors unanimously agreed to appoint Graeme McRae as Chair, in addition to his role as President & CEO. The appointment of a new Chair became necessary with the passing of the Company's former Board Chair, Mr. Hy Isenbaum, last month.

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 is to develop proprietary cancer therapies supported by revenues from marketed products in human and animal health. Bioniche has been named one of Canada's Top Ten Life Sciences Companies for 2008. For more information, please visit http://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 r
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SOURCE Bioniche Life Sciences Inc.
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