-Enhance I.A./I.V. is the Company's original sodium hyaluronate product
for equine osteoarthritis-
BELLEVILLE, ON, Dec. 13, 2012 /PRNewswire/ - Bioniche Life Sciences Inc. (TSX:
BNC) (ASX: BNC), a research-based, technology-driven Canadian
biopharmaceutical company, today announced that the Department of
Health in Hong Kong has issued a license to sell the Company's Enhance I.A./I.V. in that special administrative region of China.
Enhance I.A./I.V. is a formulation of purified hyaluronate sodium that can be administered
to horses by intravenous or intra-articular injection. It is indicated
in the treatment of joint dysfunction of the carpus or fetlock in
horses due to non-infectious synovitis associated with equine
osteoarthritis. Hyaluronate sodium acts as a replacement for synovial
fluid, the naturally occurring lubricant in articular joints. Joint
degeneration is associated with the loss of synovial fluid, and the
lack of its lubricant effects results in considerable pain and
inflammation for the horse.
The Company has been developing different formulations of sodium
hyaluronate for the equine markets in Canada, Australia and New Zealand
- sold as Enhance®- since 2001/02. Both Enhance® and the recently launched NexHATMin Canada are produced with a sodium hyaluronate solution that is
obtained from a selective fermentation source using a manufacturing
process that is free from thermal degrading effects and delivering high
"This is an exciting opportunity for Bioniche, given the importance of
horse racing in Hong Kong and the presence of the Hong Kong Jockey
Club. The organization is the largest taxpayer in Hong Kong, as well as
the largest private donor of charity funds, contributing an average of
over HK$1 billion (approximately US$130 million) annually over the past
ten years," said Mr. Andrew Grant, President, Bioniche Animal Health
(global). "We are pleased to be working with a Hong Kong distributor -
Associated Medical Supplies Co., Ltd. - for distribution of Enhance I.A./I.V. in Hong Kong, and we will be pursuing additional product registrations
in other Asian jurisdictions in the future."
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
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
SOURCE Bioniche Life Sciences Inc.