Bionovo, Inc. is a clinical stage drug discovery and development company focusing on women’s health and cancer. The Company designs drugs derived from botanical sources, which have mechanisms of action. The Company’s drug candidate, Menerba, represents a class of receptor sub-type selective estrogen receptor modulator (SERM) for the treatment of vasomotor symptoms of menopause, or hot flashes. The Company has designed Menerba to selectively modulate estrogen receptor beta (ERβ). In preclinical studies, Menerba inhibited tumor growth, as well as bone resorption known to cause osteoporosis, which is developed during menopause. The Company was developing BZL101, an oral anti-cancer agent for advanced breast cancer during the year ended December 31, 2008. BZL101 is designed to take advantage of the metabolism of cancer cells. BZL101 inhibits glycolysis, a metabolic pathway on which cancer cells rely.