MISSISSAUGA, ONTARIO--(Marketwire - Dec. 15, 2011) - The Board of Directors of BioSyent Inc. ("BioSyent") (TSX VENTURE:RX) is pleased to announce the appointment of Paul R. Montador to the Company's Board.
Mr. Montador brings to BioSyent Inc. over 35 years of experience in healthcare product sales, marketing, leadership and corporate governance. At present, he is the CEO (founder) of InspiAir Inc. and Chairman of the Board of ThinkFirst/Pensez d'Abord Canada, a national non-profit organization dedicated to the prevention of brain and spinal cord injuries. Over the last 20 years Mr. Montador's roles have also included CEO of SciCan Inc., President of Johnson & Johnson Medical Products (Canada), President and Board member of Amsco Inc. (acquired by Steris Corporation), Vice-President and General Manager of American Hospital Supply (Canada) (acquired by Baxter Corp.) and Board member of CryoCath Technologies Inc. (acquired by Medtronic, Inc.).
BioSyent Inc. also announces the grant of 25,000 incentive stock options to a Director of the Company. These incentive stock options are exercisable at a price of $0.50 up to December 15, 2016.
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. The Company is focused on medications that occupy a niche in the market, that are unique either due to complexity of manufacture or provide novel technological or therapeutic advantages, or that are backed by strong partners holding intellectual property rights that are defendable. This strategy allows the Company to market these medications as brands owned by, or licensed to, it.
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.
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