- Bioniche and Plasvacc looking to join
forces to build on core technologies in plasma therapy
-
BELLEVILLE, ON,
July 4, 2011 /PRNewswire/ - Bioniche
Life Sciences Inc. (TSX: BNC) (ASX: BNC), a research-based,
technology-driven Canadian biopharmaceutical company, today
announced that it has entered into a letter of intent to purchase
the business and assets of Plasvacc Holdings Limited (Plasvacc), an
Australian equine and canine hyperimmune plasma production and
distribution company with manufacturing operations in both
Australia and the United States.
The assets to be acquired include inventories,
property, plant, equipment, and intellectual property owned by
Plasvacc and its subsidiaries. The transaction is conditional upon
satisfactory completion of customary due diligence, receipt of
regulatory approvals, and the signing of definitive transaction
documents. The transaction is expected to close later this
month.
The acquisition of the business and assets of
Plasvacc will meet Bioniche's objective of selectively acquiring
rights to commercially-important animal health products and
technologies. This was one of the stated uses of proceeds for
Bioniche's C$28.9 million concurrent
financings in Canada and
Australia, completed earlier this
year. This acquisition will contribute to the growth of Bioniche's
revenue-generating animal health business unit.
"Plasvacc has developed high quality, patented
and registered serum-derived products that are selling in the
Australian and North American markets today," said Graeme McRae, Chairman, President & CEO of
Bioniche Life Sciences Inc. "These products fit perfectly with the
business of our existing Australian animal health operations, based
in Armidale, New South Wales. They
also align with our corporate interest in developing immune
stimulant products to reinforce an animal's own immune system to
prevent disease. We see many opportunities to build on the solid
reputation of Plasvacc's products in combination with ours and to
expand into additional global markets."
"We feel confident our quality portfolio of
products fits with those of Bioniche Life Sciences Inc.," said
Andrew Macarthur, Chief Executive
Officer and Co-Founder of Plasvacc Holdings Limited. "When
Ross Wilson and myself co-founded
Plasvacc 10 years ago, it was with a goal of providing the highest
quality plasma products, abiding by strict standards of animal
health and utilizing specialized technical expertise. Having
achieved this, we affirm that Bioniche has an interest in further
researching, developing and expanding plasma product lines whilst
expanding sales through its established worldwide veterinary
distribution channels."
Plasvacc products are sold in Australia, New
Zealand, Asia, Canada and the
United States. These products include:
- Equiplas® - to supplement the immune system of horses;
- Equiplas-E® - to prevent Endotoxaemia in horses, a potentially
fatal condition;
- Equiplas-R® - to prevent contraction of Rhodococcus equi
infection by foals, a condition that can lead to life-long lung
complications);
- Camelplas® - to supplement the immune system of alpacas, llama
and camelid species;
- Caniplas® - to treat a variety of canine illnesses, protecting
against depletion of blood clotting factors and the onset of
infections;
- Rotoplas® - a trans-species product to treat Rotavirus
infections, which can be fatal;
- Boviplas® - to supplement the immune system of cattle;
- Gamma Check®-E - for in-field testing of foal plasma IgG
levels;
- Gamma Check®-C - screens equine colostrum for adequate gamma
globulin;
- Equine RID - a lab-based test to accurately measure plasma or
serium IgG levels;
- QuickTest - an in-clinic diagnostic test for canine and feline
blood typing.
About Plasvacc Holdings Limited
Plasvacc is an Australian veterinary
pharmaceutical company founded in 2002. Plasvacc manufactures and
distributes high quality blood plasma products used to supplement
the immune response system in animals. Plasma therapy shortens the
course of treatments, reduces hospitalisation periods and lessens
the quantity of drugs required to treat a variety of medical
conditions.
Plasvacc is the only commercial producer of
plasma for veterinary use in Australia and its facility, located in
Queensland, is the only dedicated
animal plasma production facility in the country. All Plasvacc
products are registered with both the Australian Pesticide and
Veterinary Medicines Authority (APVMA) and the New Zealand Food
Safety Authority (NZFSA). Plasvacc is also registered with the
APVMA as an approved plasma manufacturer.
Plasvacc also operates a modern equine plasma
production and marketing operation in California, with seven products registered by
the United States Department of Agriculture (USDA) for sale in
the United States.
The techniques developed by Plasvacc to
manufacture high quality plasma products have been recognised
globally, with products currently supplied to over 400 clients in
Australia and overseas. Plasvacc's
innovative approaches, passion for animal care and commitment to
quality distinguish its products in the marketplace.
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 more than 200 skilled personnel
and has three operating divisions: Human Health, Animal Health, and
Food Safety. The Company's aims to develop and commercialize
proprietary and innovative products for human and animal
health.
The Animal Health division - 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 Armidale, New South Wales, Australia. The Australian
business is conducted from two sites: Melbourne, Victoria, where sales and marketing, customer
support and technical service are located; and Armidale,
New South Wales, where production
(manufacturing facility, farm/research and development facility) is
located.
Bioniche Life Sciences Inc. has been named one
of the Top 50 Best Small and Medium-Sized Employers in Canada for 2010. 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.