TSX VENTURE : RX
January 22, 2010 09:21 ET
BioSyent Pharma Signs License and Distribution Agreement
MISSISSAUGA, ONTARIO--(Marketwire - Jan. 22, 2010) - BioSyent Inc. ("BioSyent") (TSX VENTURE:RX) announces that its subsidiary BioSyent Pharma Inc. has signed a license and distribution agreement with Notlers for Virsani™ personal sanitizer. The agreement grants BioSyent Pharma the exclusive rights to manufacture, market, and distribute Virsani™ in Canada and the United States. Virsani™ kills viruses, bacteria, and other pathogens on hands and surfaces and is available in a convenient aerosol can that is small enough to fit in a small purse, pocket or desk drawer making it ideal for mobile personal hygiene. Virsani™ can disinfect both hands and personal spaces like computer keyboards, telephones, common work areas, and surfaces in fitness clubs and public washrooms.
Virsani™ has been approved by Health Canada and is currently available in over 1,200 retail locations including certain Rexall PharmaPlus, Pharmasave, International News, 7-Eleven, and Mac's Convenience stores.
"Consumer awareness of the importance of personal hygiene has been greatly increased over the last several years as a result of outbreaks such as H1N1 flu virus, Bird Flu, and SARS", said Rene Goehrum, CEO of BioSyent. "Virsani is a unique, convenient product that consumers can use at home, the workplace, in public places and when they are travelling, to provide safe and effective sanitization when they encounter such viruses and bacteria".
BioSyent's sales and marketing activity on Virsani™ will commence immediately.
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.
The TSX Venture Exchange assumes no responsibility for the accuracy of this release and neither approves nor disapproves of the same.