LURE, FRANCE and BELLEVILLE, ON, April 15, 2014 /CNW/ - 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 Vétoquinoladdresses 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.
<p> <br/> <b>VETOQUINOL </b> </p> <p> <u>Investor Relations</u><br/> Régis VIMAL DU MONTEIL<br/> Tel.: + 33 (0)3 84 62 59 88<br/> <a href="mailto:relations.investisseurs@vetoquinol.com">relations.investisseurs@vetoquinol.com</a> </p> <p> <b>KEIMA COMMUNICATION </b> </p> <p> <u>Investor Relations</u><br/> Emmanuel DOVERGNE<br/> Tel.: +33 (0)1 56 43 44 63<br/> <a href="mailto:emmanuel.dovergne@keima.fr">emmanuel.dovergne@keima.fr</a> </p> <p> <u>Media Relations</u><br/> Alix HERIARD DUBREUIL<br/> Tel.: +33 (0)1 56 43 44 62<br/> <a href="mailto:alix.heriard@keima.fr">alix.heriard@keima.fr</a> </p> <p> <b>BIONICHE LIFE SCIENCES INC. </b> </p> <p> <u>Vice-President, Communications, Investor & Government Relations</u><br/> Jennifer SHEA<br/> Tel.: (613) 966-8058 ext. 1250<br/> Cell: (613) 391-2097<br/> <a href="mailto:jennifer.shea@bioniche.com">jennifer.shea@bioniche.com</a> </p>