BioSyent Inc.
TSX VENTURE : RX

BioSyent Inc.

November 28, 2008 16:00 ET

BioSyent Releases Financial Results-Third Quarter 2008

MISSISSAUGA, ONTARIO,--(Marketwire - Nov. 28, 2008) - BioSyent Inc. ("BioSyent")(TSX VENTURE:RX) today released a summary of its financial results for the third quarter 2008. Sales decreased by 8.9% from $1,050,013 in first nine months of 2007 to $956,414 in first nine months of 2008. The company incurred a loss of ($118,363) in the first nine months of 2008 compared to a gain of $31,410 in first nine months of 2007. This loss is predominantly due to the higher pharmaceutical operating expenses for the establishment of the hospital division and the launch of Ciprofloxacin Injection, which was first shipped in May 2008.

Total working capital has increased by 5.5% from $918,615 on June 30, 2008 to $969,168 on September 30, 2008. Cash and cash equivalents have also increased as a percentage to total working capital from 74% in June 2008 to 77% in September 2008.

Full details of 2008 quarter three results and Financial Statements and Management's Discussion & Analysis have been posted on sedar.com.

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.

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