BioSyent Pharma Signs Exclusive Licensing and Distribution Agreement For New Urgent Care Drug Product
July 23, 2014 (Source: Marketwired) — BioSyent Inc. (“BioSyent”) (TSX VENTURE:RX) is pleased to announce that its subsidiary BioSyent Pharma Inc. has signed an exclusive Licensing and Distribution Agreement with an existing European partner for a new product that will be marketed by its’ Hospital Products Division. The new product utilizes a patented delivery system that offers technical advantages over existing alternatives and will be used in hospitals and acute care settings. These products will provide hospitals, clinics, and healthcare professionals with improved patient safety as well as operational efficiencies. The product will be launched after Health Canada approval.
“This is the third product that we have in-licensed from the same partner that uses the same underlying patented technology. The first of the three is already approved and being prepared for launch later this year or early next, and the second is in the latter stages of the Health Canada approval process,” said René Goehrum, President and CEO of BioSyent. “We have already started discussions and due diligence with our European partner on the fourth product that utilizes this technology and we are aware that they are developing more such products. This new product deal brings the combined number of products that BioSyent Pharma has either in-market, Health Canada approved, or in-licensed to eight.”
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About BioSyent Inc.
Listed on the Toronto Venture Exchange under the trading symbol “RX”, BioSyent is a profitable growth oriented specialty pharmaceutical company which searches the globe to in-license or acquire innovative pharmaceutical products that have been successfully developed, are safe and effective, and have a proven track record of improving the lives of patients and supporting the healthcare professionals that treat them.
Once a product of interest has been found, BioSyent then acquires the exclusive rights to the product and manages it through the Canadian governmental regulatory approval process. Once approved, BioSyent markets the product throughout Canada.
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At the date of this press release the Company had 13,801,195 shares issued and outstanding.
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