Bioniche Animal Health and IMV Technologies Sign European Distribution Agreement
agreement also provides market planning support for India
BELLEVILLE, ON, Dec. 21 - Bioniche Life Sciences Inc. (TSX: BNC), a research-based, technology-driven Canadian biopharmaceutical company, today announced that its Animal Health division has signed an agreement with IMV Technologies (France) for the exclusive distribution of a Bioniche cattle reproduction product and a select group of embryo transfer media products in Europe (excluding Spain, the UK and Ireland). This agreement extends to India, where IMV will assist Bioniche in the development of marketing plans for that jurisdiction.
"This alliance provides Bioniche Animal Health with enhanced access to the rapidly expanding cattle reproduction market in continental Europe," said Andrew Grant, Divisional President of Bioniche Animal Health Export Sales, Europe and A/Asia. "This relationship will allow us to sell our Folltropin®-V and embryo transfer media products in a more streamlined fashion, with IMV Technologies having an established presence and renowned expertise in animal reproduction."
"We look forward to this alliance in Europe where the in vitro fertilization segment is receiving growing interest from the industry," said Olivier Couture, VP, Marketing (Bovine) with IMV Technologies. "The association of IMV, the world leader in animal health biotechnology, with Bioniche Life Sciences, an expert in the pharmaceutical management of cattle reproductive performance, will provide the embryo transfer specialist with unparalleled support. The prospect of this alliance is particularly attractive in India where IMV Technologies' subsidiary is a respected market leader for the artificial insemination industry of the number one milk producer in the world, involving 40 million dairy cows and 90 million buffalo."
Folltropin®-V induces superovulation in cattle to facilitate embryo transfer. Embryo transfer permits a more rapid improvement of herd quality as compared to conventional breeding techniques. Folltropin®-V is the leading global follicle stimulating agent (70% market share) that induces superovulation in cattle to facilitate embryo transfer.
About Bioniche's Embryo Transfer Media Products
Successful embryo transfer requires not only hormones, but a variety of media and other supplies. Media, including the Company's ViGRO™ and SYNGRO® media are manufactured at the Company's manufacturing facility in Pullman, Washington, U.S.A.
About IMV Technologies
IMV Technologies is based in Normandy, France, with five subsidiaries located in Italy, the Netherlands, the U.S., China, and India. The company conceptualizes, engineers and markets instruments and technologies covering the entire gamut of operations linked to artificial reproduction, embryo transfer and cryopreservation of gametes, both for animals and humans. Through artificial insemination techniques for animals and the application of their technology, IMV Technologies both contributes to, and participates in, the improvement of animal species and the preservation of genetic heritage.
Based in the heart of Normandy, 80% of IMV Technologies' sales are generated internationally and in more than 120 countries. Their development is based on perfecting new technologies which answer the growing needs of our customers' genetic development programs. Innovators by nature, IMV Technologies constantly develops new know-how for artificial insemination techniques, embryo transfer, bio-repositories and blood banking, all of which have multiple applications for humankind. To that end, their advances in the area of Assisted Reproduction Techniques, aimed at resolving human infertility issues, confirm the technological choices they have made and the commitment of an ever-growing list of customers to products of the highest standard quality.
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 214 skilled personnel and has three operating divisions: Human Health, Animal Health, and Food Safety. The Company’s primary goal is to develop proprietary cancer therapies supported by revenues from marketed products in human and animal health. Bioniche 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.
About Bioniche Animal Health
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; and a marketing office in Dublin, Ireland, EU. The Company has progressively grown by using biotechnology to provide the animal health market with innovative solutions to meet the changing needs of the animal health industry.
The Company has a product portfolio of more than sixty products, which can be categorized primarily in the following groups: Reproduction and embryo transfer products; products based on hyaluronans; immunostimulant products; polyclonal antibodies; vaccine products; and nutraceuticals. These products are marketed directly to veterinarians in Canada, the United States, Australia and Europe, and through selected distributors in the rest of the world.
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.
For further information, please contact:
Jennifer Shea, Vice-President, Communications, Investor & Government Relations
Bioniche Life Sciences Inc.
Telephone: (613) 966-8058
Cell: (613) 391-2097