RoundTable Healthcare Partners Makes Additional Equity Investment in Bioniche Pharma

Investment Includes the Purchase of Bioniche Life Sciences, Inc.’s 10% Ownership Position in Bioniche Pharma

LAKE FOREST, IL, December 8, 2006 — RoundTable Healthcare Partners (“RoundTable”), an operating-oriented private equity firm focused exclusively on the healthcare industry, announced today that it has completed its purchase of Bioniche Life Sciences, Inc.’s (“BLSI”, TSX: BNC) 10% ownership stake in Bioniche Pharma Group Limited (“Bioniche Pharma” or the “Company”). RoundTable concurrently made a further equity investment in the Company to support growth initiatives. Financial terms of the BLSI purchase and RoundTable’s incremental equity investment were not disclosed.

Bioniche Pharma is a leading developer and manufacturer of injectable generic pharmaceuticals. The Company manufactures over 20 non-branded products and has over 7 new products in development. Bioniche Pharma’s products, which come in both vial and syringe forms, include several grandfathered products and 11 approved ANDA, non-branded products sold in the U.S. and Canadian markets. The Company’s products serve a variety of niche markets and are sold to both the primary care and hospital markets.

“RoundTable’s additional equity investment reflects our continued excitement in the Bioniche Pharma platform,” said Jack L. McGinley, a Founding Partner of RoundTable and Chairman of the Board of Bioniche Pharma. “This transaction reaffirms our confidence in the Company and its strategy.”

RoundTable acquired a majority stake in Bioniche Pharma in February 2006, and made an additional equity investment in May 2006 to support three product acquisitions that the Company completed. Bioniche Pharma is actively pursuing additional product acquisitions with RoundTable’s support.

RoundTable Healthcare Partners, Lake Forest, IL, is an operating-oriented private equity firm focused exclusively on the healthcare industry. RoundTable partners with companies that can benefit from its extensive industry relationships and proven operating and transaction expertise. The partners of RoundTable have significant experience in managing, operating, acquiring and financing multibillion-dollar diversified healthcare companies. RoundTable currently manages two equity funds totaling $900 million in capital. More information about RoundTable Healthcare Partners and its investments can be found at www.roundtablehp.com.

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