Bioniche Reports Fiscal 2008 Thi...(elated to theregulatory approval process...),Health

Bioniche Life Sciences Inc.

Amalgamated under the laws of Ontario

INTERIM CONSOLIDATED BALANCE SHEETS

(Unaudited)

As at As at

March 31, June 30,

2008 2007

$ $

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ASSETS

Current

Cash and cash equivalents 8,807,376 1,523,597

Short-term investments - 9,500,000

Accounts receivable 5,502,049 5,495,836

Inventories 4,945,312 5,480,167

Prepaid expenses and deposits 700,590 658,867

Foreign currency embedded derivatives 105,327 -

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20,060,654 22,658,467

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Long-term

Property, plant and equipment, net 9,496,091 9,557,359

Intangible assets, net 7,902,828 8,545,215

Goodwill 456,155 456,155

Deferred financing fees - 209,578

Foreign currency embedded derivatives 28,461 -

Other assets 945,096 100,000

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