Belleville, ON – Bioniche Life Sciences has changed its name to Telesta Therapeutics. The company says the name and branding change is part of a strategic plan to become a focused late-stage human therapeutics company.
“Our decision to implement this corporate rebranding comes on the heels of our achievements over the last 12 months to implement a concrete plan to focus our company on what we believe to be our core value driver – the commercialization of MCNA1 for the treatment of high-grade non-muscle invasive bladder cancer patients who have failed BCG therapy,” said Dr. Michael Berendt, chief executive officer and chief scientist. “This has meant the divestment of two non-core businesses, the sale of unproductive assets and the reduction of corporate overhead through a significant workforce reduction and global expenditure review. With many of those objectives achieved, it is now appropriate to move forward with a new brand and to be much more aggressive in our delivery of the new Telesta story and opportunity to our two key audiences – potential strategic and commercial partners and current and future investors.”
A new website will be launched in the weeks to come.