BioSyent Inc.
TSX VENTURE : RX

BioSyent Inc.

August 19, 2015 08:00 ET

BioSyent Pharma Acquires Exclusive Rights For Cysview® In Canada

TORONTO, ONTARIO--(Marketwired - Aug. 19, 2015) - BioSyent Inc. ("BioSyent") (TSX VENTURE:RX) announced today that its subsidiary BioSyent Pharma Inc. has signed an agreement with Photocure ASA granting BioSyent the exclusive rights for Cysview® in Canada. Cysview® (hexaminolevulinate hydro-chloride) is an innovative technology that aids in the diagnosis and management of bladder cancer and was approved by Health Canada in January 2015. It has been successfully marketed in the USA, Europe, and the Nordic region, since 2006. Commercialization of Cysview® in Canada will commence this year. Under the terms of the agreement, Photocure will receive up to USD $1,000,000 in milestone payments for the rights to Cysview in Canada, which includes USD $650,000 upon signing of the agreement.

"Cysview® is an innovative product that fits our strategy of finding unique and differentiated products that improve patient lives and support the healthcare practitioners that treat and care for those patients," said René Goehrum, President and CEO of BioSyent. "It is an ideal fit with our existing Cathejell® business. Urologists in the close to 200 hospitals that are currently using Cathejell® in cystoscopy procedures will be interested in how Cysview® can help them to improve patient outcomes related to bladder cancer. The doctors with whom we have already discussed Cysview® have been very supportive of our interest in bringing this product to them and their patients."

"We are pleased to have secured BioSyent Pharma as our new commercialization partner in Canada with their market position within urology and their strong and experienced team," said Kjetil Hestdal, President & CEO of Photocure. "We are happy to report that Hexvix/Cysview® commercialization is progressing well and we continue to expand into new territories to ensure patients and urologists have access to the most optimal treatment for the diagnosis and management of bladder cancer."

BioSyent Inc. also announces the grant of 7,396 incentive stock options to an employee of the Company. These incentive stock options are exercisable at a price of $6.85 up to August 18, 2025.

About Hexvix®/Cysview®

Hexvix®/Cysview® (hexaminolevulinate hydro-chloride) is an innovative breakthrough technology in the diagnosis and management of non-muscle-invasive bladder cancer. It is designed to selectively target malignant cells in the bladder and induce fluorescence during a cystoscopic procedure using a blue-light enabled cystoscope. Using Hexvix®/Cysview® as an adjunct to standard white-light cystoscopy enables the urologist to better detect and remove lesions, leading to a reduced risk of recurrence. Hexvix®/Cysview® is approved in Europe, Canada and the USA.

About BioSyent Inc.

Listed on the Toronto Venture Exchange under the trading symbol "RX", BioSyent is a profitable growth oriented specialty pharmaceutical company which searches the globe to in-license or acquire innovative pharmaceutical products that have been successfully developed, are safe and effective, and have a proven track record of improving the lives of patients and supporting the healthcare professionals that treat them.

Once a product of interest has been found, BioSyent then acquires the exclusive rights to the product and manages it through the Canadian governmental regulatory approval process. Once approved, BioSyent markets the product throughout Canada.

At the date of this press release the Company had 13,936,195 shares issued and outstanding.

About Photocure ASA

Photocure ASA, headquartered in Oslo, Norway, is a specialty pharmaceutical company and world leader in photodynamic technology. Based on our unique proprietary Photocure Technology® platform, Photocure develops and commercializes highly selective and effective solutions in disease areas with high unmet medical need, such as bladder cancer, HPV and precancerous cervical lesions, colorectal cancer and skin conditions. Our aim is to provide solutions that can improve health outcomes for patients worldwide. Photocure is listed on the Oslo Stock Exchange (OSE:PHO). Information about Photocure is available at www.photocure.com.

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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