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Bionovo Announces 2009 Highlights and Year-End Financial Results
Date:3/15/2010

EMERYVILLE, Calif., March 15 /PRNewswire-FirstCall/ -- Bionovo, Inc. (Nasdaq: BNVI) today announced financial results for the year ended December 31, 2009.

"2009 was a year of continued regulatory progress and scientific discovery," said Isaac Cohen, O.M.D., Bionovo's Chairman and Chief Executive Officer. "We have primarily focused on accomplishing the many tasks necessary for the progression of our menopausal hot flash drug candidate, Menerba, to the next level of clinical development. Specifically, we believe we have all the necessary manufacturing process controls and analytical methods in place for consistent production of the drug. 2010 is poised to be an eventful year for Bionovo as we expect to be able to initiate the next stage of clinical trials for Menerba by mid-year."

Dr. Cohen continued, "In addition to our efforts to move Menerba through the approval process we completed many important scientific and clinical tasks supporting our cancer drug candidate portfolio. We can now confidently assert that we have a robust drug pipeline with multiple, validated drug candidates in both cancer treatment and women's health. Since Bionovo is engaged in its own discovery and development process, it should be noted that we own 100% of the rights on all of our drug candidates."


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