-China
represents a growing market for bovine genetic
improvement-
BELLEVILLE, ON,
March 31 /PRNewswire/ - Bioniche
Animal Health, a Division of Bioniche Life Sciences Inc. (TSX: BNC)
(ASX: BNC) - a research-based, technology-driven Canadian
biopharmaceutical company - today announced that
authorization has been granted to market the Company's
Folltropin®-V livestock embryo transfer technology in China.
Folltropin®-V is a follicle stimulating hormone
(FSH) used to induce superovulation in cattle to facilitate embryo
transfer. "Folltropin®-V already enjoys a significant presence in
the world market for superovulatory technology, with more than 70%
market share," said Andrew Grant,
President of Bioniche Animal Health. "China represents a growing market with a
population of 1.3 billion and an ever-increasing demand for dairy
and meat products, where bovine genetic improvement - particularly
involving dairy cattle - is a high priority. Currently, the cattle
population in China is estimated
to be 187 million head and Folltropin®-V will be our lead product
for this vast market. The Company is pursuing further Folltropin®-V
registrations for the developed markets of France and Germany, as well as the developing market in
India."
The product has been available in North America, Latin
America, Australia,
New Zealand, and parts of
Europe for a number of years. It
was also previously available in China on a limited basis under import permit,
but could not be properly promoted until now.
Roughly 60% of Bioniche Animal Health revenues
are generated from a portfolio of reproduction products. The
majority of the reproduction product sales occur in North America, with the remainder split evenly
across the three major regions of Australasia, Europe/Mideast, and South America. The market authorization in
China is consistent with Bioniche
Animal Health's aggressive growth plans for its livestock
reproduction business.
"The Company's recent listing on the Australian
Securities Exchange was strategic in enabling better access to the
large and growing Asian market," said Graeme McRae, Chairman, President & CEO of
Bioniche Life Sciences Inc. "With the ASX listing, we have the
opportunity to better access Asian customers and expand our
networking for potential technology partnerships there."
In June of last year, the Company announced the
signing of an exclusive global veterinary license agreement with
Trophogen Inc., a U.S.-based biotechnology company. The agreement
provides commercial access for Bioniche to a patented, proprietary
superagonist hormone technology platform developed by Trophogen
(originally licensed from the U.S. National Institutes of Health)
in the growing veterinary field. This technology is currently being
developed into a next generation FSH.
About Bioniche Animal Health
Bioniche Animal Health develops, manufactures
and markets animal health biopharmaceutical products worldwide. It
has product development, manufacturing and marketing facilities in
Belleville, Ontario, Canada;
marketing and production facilities in Athens, Georgia, U.S.A.; Pullman, Washington, U.S.A.; and Sydney and Armidale, New South Wales, Australia. The Company has
progressively grown by using biotechnology to provide the animal
health market with innovative solutions to meet the changing needs
of the animal health industry.
The Company has a product portfolio of more than
sixty products, which can be categorized primarily in the following
groups: Reproduction and embryo transfer products; products based
on hyaluronans; immunostimulant products; polyclonal antibodies;
vaccine products; and nutraceuticals. These products are marketed
directly to veterinarians in Canada, the United
States, Australia and
Europe, and through selected
distributors in the rest of the world.
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
products for human and animal health markets worldwide. The
fully-integrated company employs 219 skilled personnel and has
three operating divisions: Human Health, Animal Health, and Food
Safety. The Company's primary goal is to develop proprietary cancer
therapies supported by revenues from marketed products in human and
animal health. The Company has a portfolio of more than 60
products, marketed directly to veterinarians in Canada, the U.S., Australia/New
Zealand, and parts of Europe, and through selected distributors in
the rest of the world. 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.