BELLEVILLE, ON,
Nov. 24, 2014 /PRNewswire/ - Bioniche
Life Sciences Inc. (TSX: BNC PNK: BNHLF) Bioniche Life
Sciences today announced the accomplishment of another major
milestone in the execution of its strategic plan to become a
focused late stage human therapeutics company with near term
commercial potential. Effective immediately, the Company will
begin operating under its new corporate name and identity, Telesta
Therapeutics Inc.
Along with this name change, the Toronto Stock
Exchange (TSX) will be initiating a ticker in the next week to
TSX:TST from TSX:BNC. This ticker change will be automatic
and will be seamless for all current and future investors.
All previously issued securities remain fully legal and valid.
Commenting on this new corporate brand, Dr.
Michael Berendt, Chief Executive
Officer and Chief Scientist noted that: "Our decision to implement
this corporate rebranding comes on the heels of our achievements
over the last 12 months to implement a concrete plan to focus our
company on what we believe to be our core value driver - the
commercialization of MCNA1 for the treatment of
high-grade non-muscle invasive bladder cancer patients who have
failed BCG therapy. This has meant the divestment of two
non-core businesses, the sale of unproductive assets and the
reduction of corporate overhead through a significant workforce
reduction and global expenditure review. With many of those
objectives achieved, it is now appropriate to move forward with a
new brand and to be much more aggressive in our delivery of the new
Telesta story and opportunity to our two key audiences - potential
strategic and commercial partners and current and future
investors."
Telesta Therapeutics will be announcing the
launch of its new website in the weeks to come.
About Telesta Therapeutics Inc.
Telesta Therapeutics Inc. is a late stage human
therapeutics company with near term commercial potential focused on
the manufacturing, marketing and licensing/acquisition of
proprietary and innovative therapies for the global human health
market. The Company's primary goal is to develop and commercialize
products that advance human health and increase shareholder value.
For more information, please visit www.Bioniche.com.
www.telestatherapeutics.com is coming soon!)
Except for historical information, this news
release may contain "forward-looking statements" and
"forward-looking information" within the meaning of applicable
securities laws that reflect the Company's current expectation
regarding future events. Forward-looking statements and information
are necessarily based upon a number of estimates and assumptions
that, while, considered reasonable by management, are inherently
subject to significant business, economic and competitive
uncertainties and contingencies. Readers are cautioned that any
such forward-looking statements and information are not guarantees
and there can be no assurance that such statements and information
will prove to be accurate, and actual results and future events
could differ materially from those anticipated in such statements
and information. These forward-looking statements and information
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. The Company
expressly disclaims any intention or obligation to update or revise
any forward-looking statements and information whether as a result
of new information, future events or otherwise. All written and
oral forward-looking statements and information attributable to us
or persons acting on our behalf are expressly qualified in their
entirety by the foregoing cautionary statements.
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1 Mycobacterium phlei cell-wall - nucleic acid
complex
SOURCE Bioniche Life Sciences Inc.