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Bionovo Discovers New Estrogen Regulatory Elements for Breast Cancer and Osteoporosis Drugs

- Results Presented at Endocrine Society's 90th Annual Meeting -

SAN FRANCISCO and EMERYVILLE, Calif., June 16, 2008 /PRNewswire-FirstCall/ -- Bionovo Inc. today announced results on the role of estrogen regulatory elements important in developing drugs for breast cancer and osteoporosis. The data, which were presented at the Endocrine Society's 90th Annual Meeting, showed that the new regulatory elements are essential for the differentiation of the estrogenic pharmacological activity exerted by different compounds.

"Selective estrogen receptor modulators (SERMs) differ from estrogen in how they regulate gene transcription and result in different pharmacological profiles and clinical effects," said Dr. Dale Leitman, from the Department of Obstetrics, Gynecology and Reproductive Sciences at the . "This study identified gene elements that are activated by SERMs but not by estrogens used in hormone therapy. The identification of these elements, coupled with the understanding of the differential regulation in various tissues, provides a new platform for the discovery of estrogenic drugs with SERM-like profiles."

The study was conducted by investigators at The Center for Reproductive Sciences in the Department of Obstetrics, Gynecology and Reproductive Sciences at the in collaboration with scientists at Bionovo.

"The discovery of these selective estrogen regulatory elements strengthens our SERM discovery engine," said Isaac Cohen, Bionovo's chairman and chief executive officer. "The advantage of the new array of specific regulatory elements is manifest in the pharmacological and toxicological insights gained. We can now acquire higher predictive value and greater specificity from a very complex biological system. I believe this puts Bionovo at the forefront of more rapidly developing future SERM products which are far more specific."

About Bionovo's SERM Platform

Bionovo is discovering and developing a new generation of novel selective estrogen modulators. The selectivity is based on receptor subtype regulation, agonist, antagonist effect, selective gene activation and repression and specific recruitment of co-regulatory proteins. Selective estrogen receptor modulators can be useful for many indications in women's health such as breast and uterine cancer, osteoporosis, menopausal symptoms, vaginal atrophy, endometriosis, uterine fibroids and other disorders. This platform provides Bionovo the molecular, pharmacological and toxicological insights needed for drugs of the future.

About Bionovo

Bionovo is a pharmaceutical company focused on the discovery and development of safe and effective treatments for women's health and cancer, which are 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.

CONTACT: Investors, Lauren Glaser of The Trout Group, +1-415-392-3310,, For Bionovo; or Media, Tom Chesterman,+1-510-420-4189, lglaser@troutgroup.com investor@bionovo.com

Web site: http://www.bionovo.com/

Ticker Symbol: (NASDAQ-NMS:BNVI)

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Posted: June 2008

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