NEW YORK, March 26 /PRNewswire/ -- Crystal Research Associates, LLC announced today that it has issued an Executive Informational Overview(R) (EIO(R)) on Bioniche Life Sciences Inc. (TSX: BNC). The full 68-page report can be found at http://www.crystalra.com.
Bioniche is a Canadian biopharmaceutical company that is committed to improving the quality of life in both humans and animals worldwide through innovative research, novel technologies, and therapeutics. Bioniche operates three global business units: (1) Human Health; (2) Food Safety; and (3) Animal Health. The Company's research focuses on developing proprietary platform technologies that are used to create its human and animal therapeutic agents.
The most advanced human product candidate for Bioniche is Urocidin(TM) to treat non muscle-invasive bladder cancer. Urocidin(TM) entered Phase III clinical development in late 2006 after receiving Fast Track status from the U.S. Food and Drug Administration (FDA). A second Phase III trial with Urocidin(TM) is scheduled to begin in 2008 under the FDA's Special Protocol Assessment (SPA) and Fast Track designations.
The Company's Food Safety unit develops veterinary biopharmaceuticals to improve the safety of human food and water supplies. Its most significant initiative is a vaccine that, when administered to cattle, reduces the level of Escherichia coli (E. coli) O157:H7 that can be shed into the environment, thereby seeking to reduce human illnesses from contaminated food and water. The vaccine has been widely tested and should receive a U.S. Department of Agriculture (USDA) conditional license in 2008. It already has a conditional license equivalent in Canada. In September 2007, the first commercial beef producer, Ontario-based Top Meadow Farms, began using Bioniche's cattle vaccine. By January 2008, the Company had received C$20 million in funding for its C$25 million vaccine production facility scale-up, and anticipates a further C$5 million for this project.
The Company's Animal Health unit markets over 100 products to veterinarians worldwide. This unit focuses on providing products that enhance reproductive performance in animals and reduce the industry's reliance on antibiotics. One of the Company's lead products, Folltropin(R)-V, is a reproductive hormone (Follicle-Stimulating Hormone [FSH]) to induce superovulation in cattle and sheep. With fiscal year 2007 sales of approximately C$10 million, Bioniche believes that Folltropin(R)-V is a global market leader in this product area.
About Crystal Research Associates, LLC
Crystal Research Associates, LLC is an independent research firm that provides institutional-quality, fee-based research to small and mid-cap companies. Crystal Research Associates' unique and novel product, the Executive Informational Overview(R) (EIO(R)), is free of investment ratings, target prices, and forward-looking financial models. The EIO(R) presents a crystal clear, detailed report on a company (public or private) in a manner that is easily understood by the Wall Street financial community. The EIO(R) details a company's product/technology/service offerings, market size(s), key intellectual property, leadership, growth strategy, competition, risks, audited financial statements, key events, and other such fundamental information. Crystal Research Associates has offices in New York City, Delray Beach, Montreal, and Toronto. Crystal Research Associates has been compensated by the Company in cash of forty five thousand U.S. dollars and eighty thousand Options/Warrants to purchase Bioniche stock for its services in creating the base report, for updates, and for printing.
Forward-Looking Safe Harbor Statement
Statements in this news release regarding future financial and operating results, potential applications of the Company's technology, opportunities for the Company, and any other statements about the future expectations, beliefs, goals, plans, or prospects expressed constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words "will," "believes," "plans," "anticipates," "expects," "estimates," and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements including, limited operating history, need for future capital, and economic conditions generally. Additional information on potential factors that could affect results and other risks and uncertainties are detailed from time to time in the Company's periodic reports, including forms filed with SEDAR.
These statements, and other forward-looking statements, are not guarantees of future performance and involve risks and uncertainties. Crystal Research Associates assumes no obligation to update any of the forward-looking statements in this release.
|SOURCE Crystal Research Associates, LLC|
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