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Bioniche Reports Fiscal 2009 Third Quarter
Date:5/6/2009

    - year-to-date revenues increase by 23% over same period in Fiscal 2008 -

    (all figures are in Canadian dollars unless otherwise noted)

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

"The year-to-date revenue growth of 23% percent in our Bioniche Animal Health business unit is very impressive in our current economic climate," said Graeme McRae, Chairman, President & CEO of Bioniche Life Sciences Inc. "This base business has supported the Company's research and development efforts for 30 years, and continues to do so."

The Company is currently pursuing several financing alternatives including issuing additional debt, preferred or common equity, finding strategic financing partners and/or asset or segment dispositions, as a result of near-term liquidity requirements, the delays in completing a partnership deal to support its Phase III development program for Urocidin(TM) and finalizing the replacement of its existing revolving credit facility. Based on the current estimated cash requirements, there remains an immediate need to obtain additional financial resources before year-end.

Highlights of Financial Results - Q3 and Year-to-Date

For the three-month and nine-month periods ended March 31, 2009, consolidated revenues totaled $7.4 million and $24.1 million respectively, compared to $7.2 million and $19.6 million for the corresponding periods in Fiscal 2008. The increase in sales in the current quarter and year-to-date involved a variety of animal health product lines, including Folltropin(R)-V, Cue-mate(TM), Pregnecol and embryo transfer products where promotional efforts contributed to increased sales across numerous geographic locations.

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SOURCE Bioniche Life Sciences Inc.
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