4 June 2015
Belleville, Ontario – Graeme McRae, Founder and Chairman Emeritus of Bioniche Life Sciences Inc., has founded NovaVive Inc., a Belleville, Ontario, Canada-based company that is acquiring and developing specialty, immunobiology-focused animal health products.
The Company was established in July, 2014, but has rapidly evolved with the December, 2014 acquisition of an immunotherapeutic technology platform that includes four registered products selling in the U.S., Canada, Australia and New Zealand. These innovative products were previously developed, manufactured, and marketed by Bioniche Animal Health. “This technology platform has tremendous potential for growth,” stated Mr. McRae, President of NovaVive Inc. “NovaVive will grow market share in North America, then expand by registering the products in new markets globally.”
The Company’s advanced immunotherapeutic technology platform has already demonstrated its capability of reducing the reliance on antibiotics in the treatment of some diseases of horses and cattle. These products have received regulatory approval and are available in the U.S. They will be offered to Canadian veterinarians as they complete the regulatory assessment process.
The four products are based on mycobacterial cell wall fraction technology. One of the products – Immunocidin® - is registered in Canada and the U.S. for the treatment of mixed mammary tumour and mammary adenocarcinoma in dogs.
Another product - Equimune® I.V. - is registered in the U.S., Australia and New Zealand for the treatment of viral respiratory disease complex in horses.
“Settle®, registered in the U.S., Australia and New Zealand for the treatment of bacterial endometritis in horses and Immunoboost®, registered in the U.S. for the treatment of E. coli-induced scours (diarrhea) in young calves are two licensed, effective treatments that are sought-after alternatives to antibiotics,” said Dr. Stan Alkemade, Chief Veterinary Scientific Officer at NovaVive Inc. “Today, we are seeing both regulators and consumers reacting to reported misuse of antibiotics resulting in bacterial resistance in livestock. In animals and humans, antibiotic resistance is becoming a very serious issue.”
The Company’s development plan is to identify additional livestock diseases that may be effectively treated with its immunotherapeutic technology platform.
About NovaVive Inc.
NovaVive is a private company that is managed by a group of experienced executives who have successfully developed veterinary technologies which have taken large global market share in the face of rigorous competition.
“After retiring from Bioniche in late 2013, I was looking for new challenges,” said Mr. McRae. “I recruited a handful of other former Bioniche colleagues to start NovaVive with a view to developing products for animals that are scientifically sound and address unmet medical needs.”
The Company is financed through internal investment, product sales revenues, and NovaVive Limited Partnership (LP). NovaVive Inc. is the operating partner of the LP.
For further information, please visit www.NovaVive.ca or contact:
Graeme McRae, President
Jennifer Shea, Vice-President, Investor Relations & Business Development