Bioniche Life Sciences Inc. Achieves Registration of Enhance™ I.A./I.V. in Hong Kong
-Enhance™ I.A./I.V. is the Company's original sodium hyaluronate product for equine osteoarthritis-
BELLEVILLE, ON, Dec. 13, 2012 /PRNewswire/ - Bioniche Life Sciences Inc. (TSX: BNC) (ASX: BNC), a research-based, technology-driven Canadian biopharmaceutical company, today announced that the Department of Health in Hong Kong has issued a license to sell the Company's Enhance™ I.A./I.V. in that special administrative region of China.
Enhance™ I.A./I.V. is a formulation of purified hyaluronate sodium that can be administered to horses by intravenous or intra-articular injection. It is indicated in the treatment of joint dysfunction of the carpus or fetlock in horses due to non-infectious synovitis associated with equine osteoarthritis. Hyaluronate sodium acts as a replacement for synovial fluid, the naturally occurring lubricant in articular joints. Joint degeneration is associated with the loss of synovial fluid, and the lack of its lubricant effects results in considerable pain and inflammation for the horse.
The Company has been developing different formulations of sodium hyaluronate for the equine markets in Canada, Australia and New Zealand - sold as Enhance® - since 2001/02. Both Enhance® and the recently launched NexHATM in Canada are produced with a sodium hyaluronate solution that is obtained from a selective fermentation source using a manufacturing process that is free from thermal degrading effects and delivering high specificity.
"This is an exciting opportunity for Bioniche, given the importance of horse racing in Hong Kong and the presence of the Hong Kong Jockey Club. The organization is the largest taxpayer in Hong Kong, as well as the largest private donor of charity funds, contributing an average of over HK$1 billion (approximately US$130 million) annually over the past ten years," said Mr. Andrew Grant, President, Bioniche Animal Health (global). "We are pleased to be working with a Hong Kong distributor - Associated Medical Supplies Co., Ltd. - for distribution of Enhance™ I.A./I.V. in Hong Kong, and we will be pursuing additional product registrations in other Asian jurisdictions in the future."
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 and innovative 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 primary goal is to develop and commercialize products that advance human or animal 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 two sites: Sydney, New South Wales, where sales and marketing, customer support and technical service are located; and 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.
SOURCE Bioniche Life Sciences Inc.