UPDATE 1-Bioniche amends credit facility
*Amends credit facility
*No licensing deal yet for bladder cancer treatment
*Shares down 51 pct in past year
TORONTO, June 22 (Reuters) - Bioniche Life Sciences (BNC.TO) said on Monday that it is in the process of addressing its short-term liquidity issues, but cautioned that it would not meet its June 30 deadline for the action.
The small biotechnology company said "a number of activities" have been taking place over the past two months to address its short-term liquidity requirements, adding that progress had been made on the initiatives.
Bioniche, which extended the maturity date of its secured revolving credit facility with a U.S. creditor to the end of the month, said the terms have returned to "on demand" status.
The company also said it has still not reached a licensing agreement for its Urocidin bladder cancer treatment which it had hoped to conclude more than two months ago.
Bioniche's shares, which have halved in the past year on worries over its liquidity, last traded at 37 Canadian cents on the Toronto Stock Exchange on Friday. ($1=$1.15 Canadian) (Reporting by Scott Anderson, editing by Dave Zimmerman)
