Folltropin®-V - a Key Bioniche Animal Health Product - Receives Marketing Authorization in China
-China represents a growing market for bovine genetic improvement-
BELLEVILLE, ON, March 31 /CNW/ - Bioniche Animal Health, a Division of Bioniche Life Sciences Inc. (TSX: BNC) (ASX: BNC) - a research-based, technology-driven Canadian biopharmaceutical company - today announced that authorization has been granted to market the Company's Folltropin®-V livestock embryo transfer technology in China.
Folltropin®-V is a follicle stimulating hormone (FSH) used to induce superovulation in cattle to facilitate embryo transfer. "Folltropin®-V already enjoys a significant presence in the world market for superovulatory technology, with more than 70% market share," said Andrew Grant, President of Bioniche Animal Health. "China represents a growing market with a population of 1.3 billion and an ever-increasing demand for dairy and meat products, where bovine genetic improvement - particularly involving dairy cattle - is a high priority. Currently, the cattle population in China is estimated to be 187 million head and Folltropin®-V will be our lead product for this vast market. The Company is pursuing further Folltropin®-V registrations for the developed markets of France and Germany, as well as the developing market in India."
The product has been available in North America, Latin America, Australia, New Zealand, and parts of Europe for a number of years. It was also previously available in China on a limited basis under import permit, but could not be properly promoted until now.
Roughly 60% of Bioniche Animal Health revenues are generated from a portfolio of reproduction products. The majority of the reproduction product sales occur in North America, with the remainder split evenly across the three major regions of Australasia, Europe/Mideast, and South America. The market authorization in China is consistent with Bioniche Animal Health's aggressive growth plans for its livestock reproduction business.
"The Company's recent listing on the Australian Securities Exchange was strategic in enabling better access to the large and growing Asian market," said Graeme McRae, Chairman, President & CEO of Bioniche Life Sciences Inc. "With the ASX listing, we have the opportunity to better access Asian customers and expand our networking for potential technology partnerships there."
In June of last year, the Company announced the signing of an exclusive global veterinary license agreement with Trophogen Inc., a U.S.-based biotechnology company. The agreement provides commercial access for Bioniche to a patented, proprietary superagonist hormone technology platform developed by Trophogen (originally licensed from the U.S. National Institutes of Health) in the growing veterinary field. This technology is currently being developed into a next generation FSH.
About Bioniche Animal Health
Bioniche Animal Health develops, manufactures and markets animal health biopharmaceutical products worldwide. It has product development, manufacturing and marketing facilities in Belleville, Ontario, Canada; marketing and production facilities in Athens, Georgia, U.S.A.; Pullman, Washington, U.S.A.; and Sydney and Armidale, New South Wales, Australia. The Company has progressively grown by using biotechnology to provide the animal health market with innovative solutions to meet the changing needs of the animal health industry.
The Company has a product portfolio of more than sixty products, which can be categorized primarily in the following groups: Reproduction and embryo transfer products; products based on hyaluronans; immunostimulant products; polyclonal antibodies; vaccine products; and nutraceuticals. These products are marketed directly to veterinarians in Canada, the United States, Australia and Europe, and through selected distributors in the rest of the world.
About Bioniche Life Sciences Inc.
Bioniche Life Sciences Inc. is a research-based, technology-driven Canadian biopharmaceutical company focused on the discovery, development, manufacturing, and marketing of proprietary products for human and animal health markets worldwide. The fully-integrated company employs 219 skilled personnel and has three operating divisions: Human Health, Animal Health, and Food Safety. The Company's primary goal is to develop proprietary cancer therapies supported by revenues from marketed products in human and animal health. The Company has a portfolio of more than 60 products, marketed directly to veterinarians in Canada, the U.S., Australia/New Zealand, and parts of Europe, and through selected distributors in the rest of the world. For more information, please visit www.Bioniche.com.
Except for historical information, this news release may contain forward-looking statements that reflect the Company's current expectation regarding future events. These forward-looking statements involve risk and uncertainties, which may cause, but are not limited to, changing market conditions, the successful and timely completion of clinical studies, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process, and other risks detailed from time to time in the Company's ongoing quarterly and annual reporting.For further information:
Jennifer Shea, Vice-President, Communications, Investor & Government Relations
Bioniche Life Sciences Inc.
Telephone: (613) 966-8058; from Australia: 0011 1 613-966-8058
Cell: (613) 391-2097; from Australia: 0011 1 613-391-2097