Singapore: Mr. Nick Photiades, one of the Board of Directors of Bioniche Life Sciences, a research-based, technology-driven Canadian biopharmaceutical company, is stepping down.

Mr. Photiades had been the Senior Director, Life Sciences, Venture Capital Division with the Business Development Bank of Canada until his retirement in 2008, after which he became a management and strategic planning consultant. He joined the Bioniche Life Sciences Board of Directors in September, 2009.

"The Board of Directors and management of the Company wish to recognize and thank Mr. Photiades for his three years of contribution to the Company," said Mr. James Rae, Board Chairman, Bioniche Life Sciences. "Mr. Photiades has been a thoughtful and articulate Director, who provided expertise in audit, legal, financing, deal-making and strategic planning. We wish him all the best in his future endeavours."

It has been decided that the Director position vacated by Mr. Photiades will not be filled at this time.