Vétoquinol and Bioniche Life Sciences Inc. Close Sale of Bioniche Animal Health Business
April 16 2014 - 1:30AM
Business Wire
Regulatory News:
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 Vétoquinol addresses
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.
For more information:VETOQUINOL KEIMA COMMUNICATIONInvestor
RelationsRégis VIMAL DU MONTEIL, Tel.: + 33 (0)3 84 62 59
88relations.investisseurs@vetoquinol.comorInvestor Relations &
Media RelationsEmmanuel DOVERGNE, Tel.: +33 (0)1 56 43 44
63emmanuel.dovergne@keima.frorBIONICHE LIFE SCIENCES INC.Jennifer
SHEA, Tel.: (613) 966-8058 ext. 1250Vice-President, Communications,
Investor & Government RelationsCell: (613)
391-2097jennifer.shea@bioniche.com
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