– Bioniche and Plasvacc looking to join forces to build on core
technologies in plasma therapy –

BELLEVILLE, ON, July 4, 2011 /PRNewswire/ – Bioniche Life Sciences Inc. (TSX:
BNC) (ASX: BNC), a research-based, technology-driven Canadian
biopharmaceutical company, today announced that it has entered into a
letter of intent to purchase the business and assets of Plasvacc
Holdings Limited (Plasvacc), an Australian equine and canine
hyperimmune plasma production and distribution company with
manufacturing operations in both Australia and the United States.

The assets to be acquired include inventories, property, plant,
equipment, and intellectual property owned by Plasvacc and its
subsidiaries. The transaction is conditional upon satisfactory
completion of customary due diligence, receipt of regulatory approvals,
and the signing of definitive transaction documents. The transaction is
expected to close later this month.

The acquisition of the business and assets of Plasvacc will meet
Bioniche’s objective of selectively acquiring rights to
commercially-important animal health products and technologies. This
was one of the stated uses of proceeds for Bioniche’s C$28.9 million
concurrent financings in Canada and Australia, completed earlier this
year. This acquisition will contribute to the growth of Bioniche’s
revenue-generating animal health business unit.

“Plasvacc has developed high quality, patented and registered
serum-derived products that are selling in the Australian and North
American markets today,” said Graeme McRae, Chairman, President & CEO
of Bioniche Life Sciences Inc. “These products fit perfectly with the
business of our existing Australian animal health operations, based in
Armidale, New South Wales. They also align with our corporate interest
in developing immune stimulant products to reinforce an animal’s own
immune system to prevent disease. We see many opportunities to build on
the solid reputation of Plasvacc’s products in combination with ours
and to expand into additional global markets.”

“We feel confident our quality portfolio of products fits with those of
Bioniche Life Sciences Inc.,” said Andrew Macarthur, Chief Executive
Officer and Co-Founder of Plasvacc Holdings Limited. “When Ross Wilson
and myself co-founded Plasvacc 10 years ago, it was with a goal of
providing the highest quality plasma products, abiding by strict
standards of animal health and utilizing specialized technical
expertise. Having achieved this, we affirm that Bioniche has an
interest in further researching, developing and expanding plasma
product lines whilst expanding sales through its established worldwide
veterinary distribution channels.”

Plasvacc products are sold in Australia, New Zealand, Asia, Canada and
the United States. These products include:

• Equiplas – to supplement the immune system of horses;
• Equiplas-E – to prevent Endotoxaemia in horses, a potentially fatal
  condition;
• Equiplas-R – to prevent contraction of Rhodococcus equi infection by foals, a condition that can lead to life-long lung
  complications);
• Camelplas – to supplement the immune system of alpacas, llama and
  camelid species;
• Caniplas – to treat a variety of canine illnesses, protecting against
  depletion of blood clotting factors and the onset of infections;
• Rotoplas – a trans-species product to treat Rotavirus infections, which can be fatal;
• Boviplas – to supplement the immune system of cattle;
• Gamma Check-E – for in-field testing of foal plasma IgG levels;
• Gamma Check-C – screens equine colostrum for adequate gamma globulin;
• Equine RID – a lab-based test to accurately measure plasma or serium IgG
  levels;
• QuickTest – an in-clinic diagnostic test for canine and feline blood
  typing.

About Plasvacc Holdings Limited

Plasvacc is an Australian veterinary pharmaceutical company founded in
2002. Plasvacc manufactures and distributes high quality blood plasma
products used to supplement the immune response system in animals.
Plasma therapy shortens the course of treatments, reduces
hospitalisation periods and lessens the quantity of drugs required to
treat a variety of medical conditions.

Plasvacc is the only commercial producer of plasma for veterinary use in
Australia and its facility, located in Queensland, is the only
dedicated animal plasma production facility in the country. All
Plasvacc products are registered with both the Australian Pesticide and
Veterinary Medicines Authority (APVMA) and the New Zealand Food Safety
Authority (NZFSA). Plasvacc is also registered with the APVMA as an
approved plasma manufacturer.

Plasvacc also operates a modern equine plasma production and marketing
operation in California, with seven products registered by the United
States Department of Agriculture (USDA) for sale in the United States.

The techniques developed by Plasvacc to manufacture high quality plasma
products have been recognised globally, with products currently
supplied to over 400 clients in Australia and overseas. Plasvacc’s
innovative approaches, passion for animal care and commitment to
quality distinguish its products in the marketplace.

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 more than 200 skilled personnel and has three operating
divisions: Human Health, Animal Health, and Food Safety. The Company’s
aims to develop and commercialize proprietary and innovative products
for human and animal health.

The Animal Health division – 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. The Australian business is
conducted from two sites: Melbourne, Victoria, where sales and
marketing, customer support and technical service are located; and
Armidale, New South Wales, where production (manufacturing facility,
farm/research and development facility) is located.

Bioniche Life Sciences Inc. 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.

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.

SOURCE Bioniche Life Sciences Inc.