BELLEVILLE, ON, March 26, 2013 /PRNewswire/ - Bioniche Life Sciences Inc. (TSX:
BNC) (ASX: BNC), a research-based, technology-driven Canadian
biopharmaceutical company, today provided its reaction to last week's
Canadian Budget 2013.
The Company is encouraged to see the Canadian government expressing
support for business innovation, to allow Canadian companies to become
more competitive in global markets.
Federal Economic Development Agency for Southern Ontario
The Company was pleased to see the federal government's continuing
investment in the Federal Economic Development Agency for Southern
Ontario. As a southern Ontario-headquartered business, Bioniche Life
Sciences Inc. has benefited from this program in the form of a $750,000
investment in the creation of a pilot-scale fermentation facility
adjacent to the Company's Animal Health and Food Safety Vaccine
Manufacturing Centre in Belleville, Ontario. As successful animal
health or food safety vaccine candidates are identified and evaluated,
they are brought into this new facility for development, scale-up and
preparation for commercial-scale manufacturing.
"The Canadian government's renewed funding for this program, combined
with an allocation for a new Advanced Manufacturing Fund in Ontario, is
a positive sign for a manufacturing-oriented company like ours," said
Mr. Graeme McRae, President & CEO, Bioniche Life Sciences Inc.
Fostering Business Innovation; Market Access is Critical
The Company was also pleased to see the federal government's plan to
invest $121 million over two years in the National Research Council
(NRC) to help the growth of innovative Canadian businesses. Bioniche
Life Sciences Inc. has benefited from the NRC's Industrial Research
Assistance Program (IRAP) for early-stage research and development
projects. Continuing federal support for the NRC and for companies that
invest in R&D leading to commercialization of Canadian science and the
creation and retention of high-value jobs in Canada is very positive.
"Bioniche remains committed to commercializing new products from Canada
- whether they be for animal health, human health or one health
(addressing zoonotic diseases that affect humans)," added Mr. McRae.
"Government support for innovative Canadian companies with a mission to
take products through the development cycle and commercialize them from
Canada is welcome and Bioniche will continue to strongly advocate for
policies that support market access for its Canadian discoveries."
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 One
Health. The Company's primary goal is to develop and commercialize
products that advance human or animal health and increase shareholder
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.