Steven R. Goldstein, M.D., Joins Bionovo's Menerba Medical Advisory Board

November 5, 2009

EMERYVILLE, Calif., Nov. 5 /PRNewswire-FirstCall/ --Bionovo, Inc. (Nasdaq: BNVI) announced today the appointment of Steven R. Goldstein, M.D., to the company's Medical Advisory Board. Dr. Goldstein is a world leader on uterine safety. He has extensive experience in menopausal and perimenopausal uterine safety studies for several Selective Estrogen Receptor Modulators (SERMS).

"We are very excited to have Dr. Goldstein on the medical advisory board as we are advancing Menerba(TM) to Phase 3," said Mary Tagliaferri, M.D., L.Ac., Bionovo's President and Chief Medical Officer. She added, "Given the concern from the FDA regarding uterine safety in postmenopausal trials using traditional estrogen therapy, his groundbreaking work and expertise in menopausal ultrasounds will be highly pertinent during the Menerba Phase 3 trial."

Dr. Goldstein states, "I look forward to working with Bionovo on the development of their novel estrogen receptor beta agonist drug, Menerba, for the treatment of postmenopausal vasomotor symptoms. Current estrogen treatments are associated with a 12 to 24 fold increase in uterine cancer; therefore alternative therapies are desperately needed for the treatment of hot flashes in postmenopausal women."

Dr. Steven Goldstein is the current Director of Gynecologic Ultrasound at New York University Medical Center; he is the current 1st Vice President of the American Institute of Ultrasound in Medicine. He has authored many textbooks including: "Endovaginal Ultrasound", "Ultrasound in Gynecology" and "Textbook in Perimenopausal Gynecology". Additionally, he has authored more than a dozen textbook chapters as well as over 55 original research articles. He has been a guest faculty member, invited speaker, visiting professor or course director over 295 times in the United States and worldwide. He currently has authored two recently released books: "Could it Be... Perimenopause" and "The Estrogen Alternative." He is one of the most highly recognized and regarded individuals in the field of vaginal ultrasound.

Dr. Goldstein graduated Magna Cum Laude from Colgate University with a Baccalaureate degree in Biology. He graduated from the New York University School of Medicine in 1975 and completed his internship in Obstetrics and Gynecology at Parkland Memorial Hospital in Dallas, Texas from 1975-1976. He completed his residency in Obstetrics and Gynecology at New York University Affiliated Hospital/Bellevue Hospital Center from 1976-1980. He has been serving as clinical instructor at New York University School of Medicine since 1980 and full tenured Professor of Obstetrics and Gynecology since 1996.

Menerba

Menerba is an estrogen receptor (ER) beta selective drug developed as an alternative to postmenopausal hormone products currently on the market, which are both ER beta and ER alpha agonists that have been shown to increase the risk for breast and uterine cancers. It has been shown that the increased risk of breast and uterine cancers is associated with ER alpha activation and that ER beta blocks the growth promoting effects on breast cancer cells. Bionovo recognized the opportunity to commercialize a product that would be equally effective, with an improved safety profile compared to traditional hormone therapy. The clinical trial results have been evaluated by an independent Data and Safety Monitoring Board and the drug candidate has passed through a standard two-phase examination for safety.

Bionovo, Inc.

Bionovo 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.