BioSyent Signs Exclusive Agreement for Pain Management Products
MISSISSAUGA, Ontario, Nov. 25, 2019 (GLOBE NEWSWIRE) — BioSyent Inc. (“BioSyent”, TSX Venture: RX) is pleased to announce that its subsidiary BioSyent Pharma Inc. has signed an exclusive License and Supply Agreement (“the Agreement”) with AFT Pharmaceuticals (“AFT”, NSX: AFT, ASX: AFP) for a portfolio of new pain management products for the Canadian market. Combogesic® (also known as Maxigesic® in other countries) combines two well-known and effective medicines, acetaminophen and ibuprofen, in a single form that has been demonstrated to synergistically provide pain relief. Health Canada has recently approved the first form of Combogesic® and BioSyent Pharma Inc. intends to launch the product in 2020. Under the Agreement, BioSyent Pharma Inc. also has rights to additional forms of Combogesic® – some of which have been approved in other countries and for which it intends to seek approval in Canada.
Combogesic® will compete in the analgesic pain market in Canada which was valued at CAD $813 million for the 12 months ending in June 2019 (source: IQVIA CDH June 2019).“We are pleased to add Combogesic® to our product portfolio and look forward to making this product available to Canadians,” said René Goehrum, President and CEO of BioSyent. “The management of pain continues to be a challenge for healthcare practitioners and patients, and Combogesic® provides clinically proven double action relief from a wide range of pain. Combining oral analgesics into a single product improves compliance, safety and efficacy.” 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 and other healthcare 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 13,581,445 common shares issued and outstanding.For a direct market quote (15 minutes delay) for the TSX Venture Exchange and other Company financial information please visit www.tmxmoney.com.For further information please contact:Mr. René C. Goehrum
President and CEO
Web: www.biosyent.comThis 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. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.