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LifeTech Capital Initiates Coverage of Bionovo

Tuesday, August 10, 2010 Hospital News J E 4
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EMERYVILLE, Calif., Aug. 10 /PRNewswire-FirstCall/ -- Bionovo, Inc. (Nasdaq: BNVI), a drug discovery and development company focused on the unmet needs in women's health and oncology, announced that LifeTech Capital has initiated independent research coverage on the Company. LifeTech Capital is a boutique investment bank specializing in the biotechnology and medical technology industries.  The report was authored by Stephen M. Dunn, senior managing director research and William D. Dawson, senior VP research of LifeTech Capital. The full report is available to the public and can be accessed at www.lifetechcapital.com.

Bionovo is making this announcement as a service to its shareholders and is not endorsing the report nor commenting on its contents.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction

About Bionovo, Inc.

Bionovo, Inc. is a pharmaceutical company focused on the discovery and development of safe and effective treatments for women's health and cancer, markets with significant unmet needs and billions in potential annual revenue. The Company applies its expertise in the biology of menopause and cancer to design new drugs derived from botanical sources which have novel mechanisms of action. Based on the results of early and mid-stage clinical trials, Bionovo believes they have discovered new classes of drug candidates within their rich pipeline with the potential to be leaders in their markets. Bionovo is headquartered in Emeryville, California and is traded on the NASDAQ Capital Market under the symbol, "BNVI". For more information about Bionovo and its programs, visit: http://www.bionovo.com.

Forward Looking Statements

This release contains certain forward-looking statements relating to the business of Bionovo, Inc. that can be identified by the use of forward-looking terminology such as "believes," "expects," or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including uncertainties relating to product development, efficacy and safety, regulatory actions or delays, the ability to obtain or maintain patent or other proprietary intellectual property protection, market acceptance, physician acceptance, third party reimbursement, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission, which are available at http://www.sec.gov. Bionovo, Inc. is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

SOURCE Bionovo, Inc.

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