Bioniche Life Sciences Inc. has Agreed to Acquire Plasvacc Holdings Limited of Australia
July 04 2011 - 4:00PM
PR Newswire (Canada)
BELLEVILLE, ON, July 4, 2011 /CNW/ -- - Bioniche and Plasvacc
looking to join forces to build on core technologies in plasma
therapy - BELLEVILLE, ON, July 4, 2011 /CNW/ - 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. To view this news release in HTML formatting,
please use the following URL:
http://www.newswire.ca/en/releases/archive/July2011/04/c3043.html p
align="justify" Jennifer Shea, Vice-President, Communications,
Investor & Government Relationsbr/ Bioniche Life Sciences
Inc.br/ Telephone: (613) 966-8058; from Australia: 0011 1
613-966-8058br/ Cell: (613) 391-2097; from Australia: 0011 1
613-391-2097br/ a href="mailto:Jennifer.Shea@Bioniche.com"
cr="true"Jennifer.Shea@Bioniche.com/a /p
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