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Jan Ake Gustafsson, M.D., Ph.D., Joins Bionovo's Scientific Advisory Board
Date:2/9/2009

EMERYVILLE, Calif., Feb. 9 /PRNewswire-FirstCall/ -- Bionovo, Inc. (Nasdaq: BNVI) announced today the appointment of Jan Ake Gustafsson, M.D., Ph.D., to the company's Scientific Advisory Board. Dr. Gustafsson has extensive experience in academic research as well as with pharmaceutical and biotech companies.

"We are very excited to have Dr. Gustafsson on the scientific advisory board as we are advancing our discovery platforms," said Isaac Cohen, O.M.D., Bionovo's Chairman and CEO. He added, "Dr Gustafsson, a member of the National Academy of Sciences, member of the Nobel Assembly and member of the Council of The Endocrine Society, is a pioneer in biomedical research. Jan Ake's contributions to medical science are numerous. Dr. Gustafsson's landmark discovery of the estrogen receptor beta (ERB) transformed the future of women's health and our ability to select safer more targeted therapies for various indications. We are looking forward to collaborating with him on current and future indications involving nuclear receptors."

Dr. Gustafsson states, "I'm very impressed by the scientific depth and innovative approach of Bionovo's drugs and drug discovery strategies. The utilization of natural compounds found in botanical sources, the targeted mechanisms of action seem to result in safer drugs with exciting clinical results. I believe the extensive pipeline of Bionovo will provide new therapies for women. I hope our collaboration will further expand therapeutic choices for a number of significant diseases with unmet needs."

In the early 1970s, Dr. Jan-Ake Gustafsson began making his first pivotal contributions to the field of nuclear receptors, which are proteins that regulate hormone function and are essentially involved in the regulation of all aspects of health and disease. He has since published more than 1,300 peer-reviewed articles, with findings ranging from the elucidation of the receptors' DNA-binding mechanism to the more recent discovery of a second estrogen receptor, estrogen receptor beta, resulting in a paradigm shift in the understanding of estrogen regulation.

His research achievements have been very well received by the scientific community. Dr. Gustafsson, so far, has been cited more than 60,000 times. He received numerous international awards and distinctions, e g Fogarty Scholar NIH 1999; Foreign Honorary Member of the American Academy of Arts and Sciences 2000; European Medal, British Society for Endocrinology 2000; Lorenzini Gold Medal, Lorenzini Foundation 2001; Foreign Honorary Member of the US National Academy of Sciences 2002; Fred Conrad Koch Award (Endocrine Society USA) 2002; Bristol- Meyers Squibb/Mead Johnson Award for Nutrition Research 2004; Descartes Research Prize for excellence in scientific collaborative research 2005; Honorary Professor at the University of Chongquin, China 2007; Honorary doctor in Medicinal and Pharmaceutical Chemistry at the University of Milan 2008; Honorary Professor at the University of Beijing 2008. His most recent work identifies inherent differences in signaling between the two estrogen receptors. These findings clarify the roles that each receptor plays in breast cell proliferation and point toward possible new therapeutics for breast cancer and other women's health issues.

Dr. Gustafsson is a member of the National Academy of Sciences. He was chairman of the Nobel Assembly Committee. Dr. Gustafsson serves as a member of the Council (Board) of the Endocrine Society. Jan Ake was Chairman of the Department of Biosciences and Nutrition, Karolinska Institute, Stockholm, Sweden. He was a founder and director of Karo-Bio AB (Stockholm). In addition Dr. Gustafsson was a member of several international Biotechnology review panels. He holds numerous patents for his discoveries in broad areas of medicine. Remarkably, Dr. Gustafsson has been an active instructor and mentor to hundreds of graduate and postgraduate students from around the world. After completing a doctorate degree in biochemistry in the Karolinska Institute, Jan Ake received his medical degree from the same institute. Dr. Gustafsson is currently building a new Center for Nuclear Receptors and Cell Signaling at the University of Houston, TX.

Bionovo, Inc.

Bionovo is a pharmaceutical company focused on the discovery and development of safe and effective treatments for women's health and cancer, markets with significant unmet needs and billions in potential annual revenue. The company applies its expertise in the biology of menopause and cancer to design new drugs derived from botanical sources which have novel mechanisms of action. Based on the results of early and mid-stage clinical trials, Bionovo believes they have discovered new classes of drug candidates within their rich pipeline with the potential to be leaders in their markets. Bionovo is headquartered in Emeryville, California and is traded on the NASDAQ Capital Market under the symbol, "BNVI". For more information about Bionovo and its programs, visit: http://www.bionovo.com.

Forward Looking Statements

This release contains certain forward-looking statements relating to the business of Bionovo, Inc. that can be identified by the use of forward-looking terminology such as "believes," "expects," or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including uncertainties relating to product development, efficacy and safety, regulatory actions or delays, the ability to obtain or maintain patent or other proprietary intellectual property protection, market acceptance, physician acceptance, third party reimbursement, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission, which are available at http://www.sec.gov. Bionovo, Inc. is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.


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