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Bioniche Reports Fiscal 2009 Second Quarter
Date:2/6/2009

    - year-to-date revenues increase by 35% over same period in Fiscal 2008 -

    (all figures are in Canadian dollars unless otherwise noted)

BELLEVILLE, ON, Feb. 6 /PRNewswire-FirstCall/ - Bioniche Life Sciences Inc. (TSX: BNC), a research-based, technology-driven Canadian biopharmaceutical company, today announced financial results for the second quarter of its 2009 fiscal year, ending December 31, 2008.

"We have experienced another strong quarter of increased revenues in our Animal Health Division," said Patrick Montpetit, Chief Financial Officer of Bioniche Life Sciences Inc. "We experienced strong growth in every jurisdiction and across all product lines."

Q2, Fiscal 2009 Financial Results Highlights

Consolidated revenues for the second quarter totaled $8.6 million, an increase of 32% from the $6.5 million recorded in the same period in Fiscal 2008.

The overall gross profit margin was 60% for the second quarter of Fiscal 2009, as compared to 58.5% for the same period in Fiscal 2008.

Expenses before research and development totaled $4.7 million for the three months ending December 31, 2008, which compares to $4.6 million recorded in the same period last year.

Research and development expenses were $3.3 million for the 3-month period ending December 31, 2008, as compared to $3.7 million for the same period in Fiscal 2008. The majority of these costs can be attributed to the ongoing Phase III clinical program with Urocidin(TM) in bladder cancer and the Econiche(TM) vaccine development program.

The basic and fully-diluted loss and comprehensive loss per share for the second quarter of Fiscal 2009 was ($0.03), compared to a net loss per share of ($0.07) recorded in the same period last year.

Year-to-Date Financial Results Highlights

On a year-to-date (six-month) basis, consolidated revenues have increased to $16.7 million, a
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SOURCE Bioniche Life Sciences Inc.
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