BELLEVILLE, ON, Sept. 7 /CNW/ - Bioniche Life Sciences Inc. (TSX: BNC), a
research-based, technology-driven Canadian biopharmaceutical company, today
announced that it has received a $2 million grant from the Rural Economic
Development (RED) Program of the Ontario Ministry of Agriculture, Food and
Rural Affairs. The grant, announced by the Honourable Leona Dombrowsky,
Minister of Agriculture, Food and Rural Affairs, will be applied to market
development related to the Company's E. coli O157:H7 cattle vaccine.
The vaccine will be used for the reduction of shedding of E. coli O157:H7
bacteria by cattle. Shed bacteria can contaminate food, water and the
environment. Human exposures to this pathogen result in an estimated 100,000
cases of illness per year in North America. Bioniche believes that use of the
vaccine will reduce the amounts of bacteria in cattle and the related
incidence of human disease.
"This investment demonstrates the Ontario government's interest in
ensuring that our Canadian developed and manufactured technology reaches a
global market," added Graeme McRae, President & CEO of Bioniche Life Sciences
"This investment is good news for Belleville, for the agri-food industry,
and for all Ontarians," said Minister Dombrowsky, as she announced the funds
to the Company earlier today.
Bioniche has commenced limited production of the E. coli O157:H7 cattle
vaccine at its Belleville, Ontario facility. This supply is now being provided
to veterinarians requesting vaccine under the Canadian Permit to Release
regulations. Bioniche will continue to scale up vaccine production as full
domestic and international approvals are received. Until such approvals are
received, all vaccine will be shipped to Canadian veterinarians as permit
requests are received and approved by the Canadian Food Inspection Agency
The Company announced in August that the first permit has been issued for
its E. coli O157:H7 cattle vaccine, and that the first order of vaccine has
been shipped to that customer.
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 approximately
195 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. 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:
For further information: Jennifer Shea, Corporate Communications &
Investor Relations Manager, Bioniche Life Sciences Inc., Telephone: (613)
966-8058, Cell: (613) 391-2097, Jennifer.Shea@Bioniche.com