Bioniche seeking new financial resources

Guest Contributor
February 21, 2013

Bioniche Life Sciences Inc is seeking additional financial resources to accommodate "intensive resource allocations" devoted to several late-stage development projects, according to the Belleville ON-based firm's financial statements for Q2/13. The biopharmaceutical firm reported a 19% increase in quarterly sales from its animal health products to $8.8 million or $15.4 million on a year-to-date basis. But working capital is down significantly compared to the previous year. The firm incurred $3.2 million in financing expenses stemming from its US$20 million in debt financing from Royal Capital Partners. R&D expenses are down to $8.5 million for the first six months of 2013 compared to the same period last year. Earlier this year, Endo Pharmaceuticals, Chadds Ford PA, returned the global rights to Bioniche's Urocidin non-muscle-invasive bladder cancer drug after it discontinued its Phase III clinical trial. Bioniche is in discussions with potential new partners and is "actively strategizing around a new clinical plan to advance the product to registration"....


Other News






Events For Leaders in
Science, Tech, Innovation, and Policy


Discuss and learn from those in the know at our virtual and in-person events.



See Upcoming Events










You have 1 free article remaining.
Don't miss out - start your free trial today.

Start your FREE trial    Already a member? Log in






Top

By using this website, you agree to our use of cookies. We use cookies to provide you with a great experience and to help our website run effectively in accordance with our Privacy Policy and Terms of Service.