LURE, FRANCE and
BELLEVILLE, ON, April 15, 2014 /PRNewswire/ - Vétoquinol (NYSE
Euronext Paris: VETO) and Bioniche Life Sciences Inc. (TSX: BNC),
today jointly announced the closing of the sale of Bioniche's
Animal Health business to Vétoquinol. The two companies announced
the signing of a share purchase agreement in February that was
subject to the approval of Bioniche shareholders. At a Special
Meeting of Shareholders held yesterday, 97.4% of the Shares that
were voted were in favour of the transaction.
The terms of the share purchase agreement were
disclosed on February 27, 2014.
"We are very pleased with the positive
outcome of the Bioniche shareholders' vote," said Vetoquinol
CEO's Matthieu Frechin. "This
acquisition is a new milestone in the implementation of our long
term strategy; it will strengthen our portfolio of products with
immediate synergies in Canada and
the U.S. and mid-term prospects in other markets."
"The sale of our Animal Health business to
Vétoquinol addresses a key strategic objective of reducing
our debt load and streamlining our corporate focus," said Dr.
Michael Berendt, CEO of Bioniche
Life Sciences Inc. "Our focus is now human therapeutics, with
our Phase III bladder cancer therapy, Urocidin™, as our core
franchise. We will maximize the underlying MCNA technology by
seeking new indications beyond bladder cancer, and we will look for
additional human therapeutic assets that will leverage our internal
skillset and knowledge and enhance shareholder value."
About Vétoquinol
Vétoquinol is an independent, family-owned business, global
player in the animal health sector serving both the livestock
(cattle and swine) and pet (dogs and cats) markets. Vétoquinol
designs, develops and sells veterinary drugs and non-medicinal
products in Europe, the Americas
and the Asia Pacific
region.
Since its foundation in 1933, Vétoquinol has pursued a
strategy combining innovation and geographical diversification. The
Group's hybrid growth is driven by the reinforcement of its product
portfolio coupled with acquisitions in high growth markets.
Vétoquinol employs over 1,850 people globally.
Vétoquinol has been listed on NYSE Euronext
Paris since 2006 (symbol: VETO).
For more information:
www.vetoquinol.com.
About Bioniche Life Sciences
Inc.
Bioniche Life Sciences Inc. is a clinical stage
biopharmaceutical company focused on the discovery, development,
manufacturing, and marketing of proprietary and innovative products
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.
Bioniche Animal Health develops, manufactures
and markets veterinary biopharmaceutical products worldwide. In
North America, it has development,
manufacturing and marketing facilities in Belleville, Ontario, Canada, Athens, Georgia, U.S.A. and Pullman, Washington, U.S.A. In Australia, business is conducted from
Armidale, New South Wales, where
research, development and manufacturing facilities are
located.
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.
OUR BUSINESS: ANIMALS. OUR ADVANTAGE:
PEOPLE.
SOURCE Bioniche Life Sciences Inc.
