BioSyntech Inc.
TSX : BSY

BioSyntech Inc.
Nicholas Piramal India Limited

Nicholas Piramal India Limited

November 20, 2006 07:01 ET

BioSyntech Signs Scientific Collaboration Agreement With Nicholas Piramal

LAVAL, QUEBEC--(CCNMatthews - Nov. 20, 2006) - BioSyntech, Inc.(TSX:BSY) ("BioSyntech" or the "Company") is pleased to announce the signing of a scientific collaboration between the Company and their biopharmaceutical partner Nicholas Piramal. This collaboration will involve clinical studies for BST-InPod, which is being developed to alleviate the chronic pain associated with foot fat pads. This collaboration will help to generate more clinical data at a lower cost in India.

Chronic heel pain is widespread- the American College of Foot and Ankle Surgeons reports that "heel pain is a complaint voiced by 14 percent of the adult population and suspects that millions more silently cope with it". Injected directly into the fat pad, BST-InPod is expected to result in a reduction in pain by improving the biomechanical function of the treated fat pad.

About BioSyntech

BioSyntech is a biotechnology company specializing in the discovery, development, and manufacturing of innovative, cost-effective, and physician-friendly therapeutic thermogels for regenerative medicine and therapeutic delivery. BioSyntech's quality management system is registered to ISO-9001; 2000 standard. For additional information, visit www.biosyntech.com.

About NPIL - Nicholas Piramal India Limited is one of India's largest pharmaceutical companies, with strong brand management and sales capabilities, a FDA site-approved plant for on-and-off patent APIs and Intermediates. It has R&D capabilities in Basic Research, Process Innovation, Custom Chemical Synthesis, Formulations R&D, NDDS, and also has a world-class accredited Clinical Research Organisation.

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Contact Information

  • BioSyntech, Inc.
    Yvonne Kramer
    Senior Director
    Corporate & Business Development
    +1-450-686-2437
    or
    Nicholas Piramal India Limited
    Vijay Sathye
    Vice President
    Investor Relations and M&A
    + 91-22-5663-7899
    or
    The Equicom Group Inc.
    Eric Bouchard
    +1-514- 844-7997
    ebouchard@equicomgroup.com