TORONTO, ONTARIO–(Marketwired – Nov. 8, 2016) – BioSyent Inc. (“BioSyent”)(TSX VENTURE:RX) is pleased to announce that its subsidiary BioSyent Pharma International Inc. has signed an exclusive License and Supply Agreement with a European partner for a new product in the women’s health therapeutic area for the Canadian market. The product has been approved in Europe and in certain other markets around the world and will be launched in Canada after approval by Health Canada. BioSyent intends to submit the dossier seeking marketing approval of the product to Health Canada in 2017.
According to IMS Health data, the product will be in a sub-segment of the women’s health market in Canada which is valued at approximately CAD $200 million and grew at an annualized rate of +5.0% for the 12 months ending in June 2016.
“BioSyent is pleased to add this product to our Community & Women’s Health Business and further extends our product offering in the gynecology market realizing our goal to bring products that are unique and differentiated to Canada,” said René Goehrum, President and CEO of BioSyent.
BioSyent continues to concentrate on its pharmaceutical strategy to source products that have been successfully developed and proven to be safe and effective; manage these products through the regulatory process and product registration and once approved, market these products in Canada and in certain international markets. The Company is focused on innovative products that are sourced through international partnerships. These products are unique due to manufacturing complexities, novel technological, therapeutic advantages and/or strong, defendable intellectual property rights. The Company’s strategy allows it to commercialize these products as brands acquired or licensed to it by partners.
About BioSyent Inc.
Listed on the TSX Venture Exchange under the trading symbol “RX”, BioSyent is a profitable growth-oriented specialty pharmaceutical company focused on in-licensing or acquiring innovative pharmaceutical products that have been successfully developed, are safe and effective, and have a proven track record of improving the lives of patients. BioSyent supports the healthcare professionals that treat these patients by marketing its products through its community, hospital and international business units.
As of the date of this press release, the Company has 14,101,087 shares issued and outstanding.
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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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