BELLEVILLE, Ontario, June 5 /PRNewswire/ -- Bioniche Life Sciences Inc. (TSX: BNC), a research-based, technology-driven Canadian biopharmaceutical company, today announced that it has issued a warning to its customers about a counterfeit version of one of its animal health products that may be associated with the death of a horse in Ontario. The Bioniche product, Hippiron(TM) 1000, fully complies with regulatory standards and is safe for use as recommended. Bioniche sells this injectable iron-sucrose product exclusively to veterinarians and it is the only licensed product of its kind available for veterinary use in Canada.
Bioniche is warning horse owners not to use any Hippiron 1000 that has not been purchased from a veterinarian or veterinary clinic. At least one horse in Ontario has died and two more have had serious reactions following the administration of a counterfeit product sourced from a feed store. Health Canada's Veterinary Drugs Directorate and Health Products & Food Branch Inspectorate are investigating the source of the counterfeit product in order to prevent any further use in Canadian horses.
"Bioniche is working with the investigating authorities to ensure that no further damage occurs," said Graeme McRae, President & CEO of Bioniche Life Sciences Inc. "This type of illegal activity cannot be tolerated. Bioniche invests heavily in quality control measures to ensure that only high quality, regulatory compliant products are sold to veterinarians." Bioniche plans to prosecute any individual involved in the manufacturing, marketing, and/or labeling of counterfeited product.
The counterfeit product bears a reproduction of the Bioniche Hippiron 1000 label. Veterinarians and horse owners who wish to verify if their product is legitimate or who have any questions or concerns may contact Bioniche Animal Health Canada at 1-800-265-5464, ext. 1279.
Bioniche requests the assistance of print and broadcast media across Canada to inform horse owners that counterfeit drugs exist, and that only licensed products from a veterinarian should be administered to their animals.
The Company will host a conference call to discuss this matter with media and other interested individuals on:
Thursday, June 8, 2006
9:00 a.m. EDT
To participate in the conference call, please phone 416-644-3433 (Toronto area) or toll-free 1-866-249-2165. A replay of the conference call will be available until June 15, 2006 by calling 416-640-1917 or toll-free 1-877-289-8525 (passcode: 21192072#).
About Hippiron 1000
Hippiron 1000 is an iron-sucrose product for horses that is administered by IV injection. It is widely used to treat iron deficiency (equine anaemia). It has been registered with Health Canada and meets all regulatory guidelines for manufacture, testing, and quality assurance. More than one million doses have been administered to horses since the product was launched with no adverse reactions reported. The product is sold exclusively to veterinarians.
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 approximately 185 skilled personnel and has three principal 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. For more information, please visit http://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.
For further information, please contact:
Jennifer Shea
Manager of Corporate Communications & Investor Relations
Bioniche Life Sciences Inc.
Telephone: (613) 966-8058 ext. 1250
Cell: (613) 391-2097
