TORONTO, ONTARIO--(Marketwired - March 4, 2014) - BioSyent Inc. (TSX VENTURE:RX) ("BioSyent") is pleased to announce that its subsidiary BioSyent Pharma Inc. has signed an exclusive Canadian Licence and Distribution Agreement with an existing European partner for a gastrointestinal health product that has already been approved by Health Canada.
This licence agreement is with the same partner that will be supplying the women's health product that is being prepared for launch in the second quarter of this year. The new product has been approved in several European countries and is being successfully marketed there.
"Pre-launch preparations have commenced and we are planning for a Q4 2014 launch of this new gastrointestinal product," said Rene Goehrum, BioSyent CEO. "It will be a good complement to both our existing promotion activities with healthcare practitioners, and to our Hospital Products group. This product is also a direct complement to the women's health product which we will be launching in a couple of months."
Mr. Goehrum continued, "This new agreement brings the total number of products that BioSyent has licensed from European partners to five. One is approved and in the market (Cathejell), two more are already approved and will be launched this year, and two are in the process of review for approval by Health Canada. Along with FeraMAX(R) 150 and FeraMAX(R) Powder, this brings our total product portfolio to seven products."
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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.
At the date of this press release the company had 13,626,195 shares issued and outstanding.
This press release may contain information or statements that are forward-looking. The contents herein represent our judgment, as at the release date, and are subject to risks and uncertainties that may cause actual results or outcomes to be materially different from the forward-looking information or statements. Potential risks may include, but are not limited to, those associated with clinical trials, product development, future revenue, operations, profitability and obtaining regulatory approvals.
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