MISSISSAUGA, ONTARIO--(Marketwire -07/28/11)- BioSyent Inc. (TSX-V: RX) ("BioSyent") announces that its subsidiary BioSyent Pharma Inc. together with its manufacturing partner received approval from Health Canada for an innovative topical anesthetic product used in urology and gastroenterology. The product was in-licensed under its Hospital Products Division in July 2009. Product shipments are expected to commence later in 2011 or early in 2012. Further details of the product will be announced closer to the shipment start date.
BioSyent Inc. 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 (approval); and once approved, market these products in Canada. These pharmaceuticals will compete in both the branded and generic market segments and will not require further product development investment other than regulatory costs.
BioSyent Inc. is a publicly traded specialty pharmaceutical company whose wholly owned subsidiary, BioSyent Pharma Inc., sources, acquires or in-licences pharmaceutical products and markets these products in Canada. Wholly owned BioSyent subsidiary Hedley Technologies Ltd. operates the company's legacy business marketing bio and health friendly non-chemical insecticides. BioSyent common shares are listed for trading on the TSX Venture Exchange (TSXV) under the symbol RX.
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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Contacts:BioSyent Inc.Rene C. GoehrumPresident and CEO(905) 206-0013(905) 206-1413 (FAX)www.biosyent.com