Ms. Jennifer Shea reports

VETOQUINOL AND BIONICHE LIFE SCIENCES INC. CLOSE SALE OF BIONICHE ANIMAL HEALTH BUSINESS

Vetoquinol and Bioniche Life Sciences Inc. have closed the sale of Bioniche's animal health business to Vetoquinol. 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 per cent of the shares that were voted were in favour of the transaction.

The terms of the share purchase agreement were disclosed on Feb. 27, 2014.

"We are very pleased with the positive outcome of the Bioniche shareholders' vote," said Vetoquinol chief executive officer'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 midterm prospects in other markets."

"The sale of our animal health business to Vetoquinol addresses a key strategic objective of reducing our debt load and streamlining our corporate focus," said Dr. Michael Berendt, chief executive officer of Bioniche Life Sciences. "Our focus is now human therapeutics, with our phase 3 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 skill set and knowledge and enhance shareholder value."

About Vetoquinol

Vetoquinol is an independent, family-owned business and a global player in the animal health sector, serving both the livestock (cattle and swine) and pet (dogs and cats) markets. Vetoquinol designs, develops and sells veterinary drugs and non-medicinal products in Europe, the Americas and the Asia Pacific region.

Since its foundation in 1933, Vetoquinol 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. Vetoquinol employs over 1,850 people globally. Vetoquinol has been listed on the NYSE Euronext Paris since 2006.

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