BELLEVILLE, ON, July 15, 2013 /CNW/ - Bioniche Life Sciences Inc. (TSX: BNC) (ASX: BNC), a research-based, technology-driven Canadian biopharmaceutical company, today announced that regulatory authorities in seven European countries have agreed to register its top-selling animal health product - Folltropin®. The countries are Austria, Czech Republic, Denmark, Finland, France, Germany and Poland. Formal marketing authorizations have been issued in four EU markets - Austria, Denmark, France and Germany - and the other approvals are expected to follow within the next several weeks. Folltropin® is a global market leading follicle stimulating hormone that is used to superovulate reproductively mature cattle.
Folltropin® has previously been sold in Canada, the United States, Australia, New Zealand, Mexico, Brazil, Argentina and other Latin American countries, Korea, South Africa, China, the Netherlands, UK, Italy, Spain and Ireland.
"The market authorization for seven new European markets for Folltropin® is an important milestone for our Animal Health business," said Mr. Andrew Grant, President, Bioniche Animal Health (global). "These additional markets represent approximately $1 million CAD in new sales revenue potential in the first year following launch, with further growth in the future."
There are a few steps to be undertaken prior to the launch of Folltropin® in these new jurisdictions. It is anticipated that market launch will occur within 90 days of the final approvals.
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 and innovative products for human and animal health markets worldwide. The fully-integrated company employs more than 200 skilled personnel and has three operating divisions: Human Health, Animal Health, and Food Safety. The Company's primary goal is to develop and commercialize products that advance human or animal health and increase shareholder value.
Bioniche Animal Health develops, manufactures and markets veterinary biopharmaceutical products worldwide. In North America, it has development, manufacturing and marketing facilities in Belleville, Ontario, Canada, Athens, Georgia, U.S.A. and Pullman, Washington, U.S.A. In Australia, business is conducted from two sites: Sydney, New South Wales, where sales and marketing, customer support and technical service are located; and Armidale, New South Wales, where research, development and manufacturing facilities are located.
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.
SOURCE: Bioniche Life Sciences Inc.
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