Monday, March 3, 2014

Bioniche sells animal division

Bioniche Life Sciences of Belleville is selling its animal health division to Vetoquinol of France for $61 million.

The division has been up for sale since May as Bioniche seeks money to pay for trials to gain approval to market a bladder cancer-fighting drug, Urocidin.

Econiche, the vaccine that reduces E. coli 0157:H7 in cattle destined for slaughter, is not included in the sale. It’s part of Bioniche’s Health One division for which Bioniche is seeking a partner.

Econiche holds great promise, but has not been picked up as widely as food-safety people would like, mainly because beef packers won’t pay farmers a premium to cover the additional costs.

The biggest seller in the deal with Vetoquinol is Folltropin, a hormone to stimulate superovulation for cattle embryo transplants.