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Bioniche Life Sciences Inc. (BNC) Appoints an Independent Chairman of its Board of Directors



7/30/2012 9:32:05 AM

BELLEVILLE, ON, July 30, 2012 /PRNewswire/ - Bioniche Life Sciences Inc. (TSX: BNC) (ASX: BNC), a research-based, technology-driven Canadian biopharmaceutical company, today announced that Mr. James Rae has been appointed as independent Chairman of the Board of Directors. The Chairman role has been performed by President & CEO, Mr. Graeme McRae. Mr. Rae takes over the role immediately.

Mr. Rae has been the CEO of London, Ontario-based Viron Therapeutics Inc. since 2007. He has over 30 years of experience in the manufacturing, marketing, financial and R&D operations of both pharmaceutical and biotechnology firms. He has considerable experience in financing from public, private and government sectors and in deal-making with multinational companies. Following 18 years at pharmaceutical company, Searle, latterly as CEO, he was President and CEO of Cangene, a publicly-listed biotech company where he was responsible for restructuring and orchestrating a reverse takeover of the company at a significant multiple. Mr. Rae was previously Chairman and CEO of Vaxis Therapeutics in Kingston, Ontario, Chairman and CEO of Resolution Pharma in Toronto, Ontario and, more recently, CEO of Cytochroma Inc., a Markham, Ontario-based biotech company which he transitioned from a research entity into one advanced into clinical development with a diversified product base. Mr. Rae was most recently the Chairman of Montreal-based Aegera Therapeutics, which was acquired by Pharmascience Inc. in late 2011. He presently holds directorships in three Canadian biotech companies and has previous experience as a Director on the Boards of a number of publicly-traded biotechnology companies.

"Mr. Rae brings a wealth of sector experience to our Board of Directors," said Mr. Graeme McRae, President & CEO of Bioniche Life Sciences Inc. "His knowledge and network will serve the Company well as we work to complete important R&D projects and grow revenues."

Management Changes

The Company also announced today that there have been a number of recent changes to the senior management structure. Mr. Cameron Groome, Executive Vice-President, Corporate & Strategic Development, Mr. Jim Phillips, Senior Vice-President, Industry Relations, Dr. Dragan Rogan, Chief Veterinary Scientific Officer and Dr. Gary Weber, President, Bioniche Food Safety (U.S.) have left the Company. Mr. Michael Rubin has joined the Company in the capacity of Vice-President, Business Development.

About Bioniche Life Sciences Inc.

Bioniche Life Sciences Inc. is a research-based, technology-driven Canadian biopharmaceutical company focussed 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 Life Sciences Inc. has been named one of the Top 50 Best Small and Medium-Sized Employers in Canada for 2011. 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.


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