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Bioniche Life Sciences Inc. Appoints a Chief Operating Officer

BELLEVILLE, ON, Jan. 7, 2014 /PRNewswire/ - Bioniche Life Sciences Inc. (TSX: BNC) (ASX: BNC), a leading clinical stage biotechnology company, today announced the appointment of Donald Olds as Chief Operating Officer, effective immediately.

Dr. Michael Berendt, CEO of Bioniche Life Sciences Inc., highlighted that, "the engagement of Donald Olds as Chief Operating Officer is the next step in our operational plan to position Bioniche Life Sciences as a top-tier North American biotechnology company with a focus on the development of oncology therapeutics. Don brings a rare combination of scientific, operational, and financial acumen that we are confident will help us position our human therapeutic business for future success and permit us to achieve our other operational objectives, including the licensing and divestiture of our non-core business assets and the implementation of operating cost reductions."

Prior to his new position with Bioniche Life Sciences, Mr. Olds has held key executive positions in biotechnology, investment banking, biotechnology and information technology where he has led successful licensing, merger and acquisition and debt and equity transactions for public and private companies.

He currently serves as Chairman of the Board, of the Neomed Institute (www.neomed.ca),  is Director and Chair of the Audit Committee of the Centre Quebecois (www.cqdm.org), is a Director of Bellus Health (TSX: BLU), and is Treasurer of Oxfam Quebec (www.oxfam.qc.ca). Mr. Olds has a M.Sc. (University of British Columbia) and a MBA - Finance & Strategy (McGill University).

About Bioniche Life Sciences Inc.

Bioniche Life Sciences Inc. is a clinical stage Canadian 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 or animal health and increase shareholder value.

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.

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