BioSyent Announces Long-term Extension of Cathejell® Agreement

MISSISSAUGA, Ontario, June 20, 2023 (GLOBE NEWSWIRE) -- BioSyent Inc. ("BioSyent", "the Company", TSX Venture: RX) is pleased to announce that its wholly-owned subsidiary, BioSyent Pharma Inc. ("BioSyent Pharma"), has extended its License, Distribution and Supply Agreement with its European partner for the Cathejell^® product, extending BioSyent Pharma's exclusive Canadian rights to Cathejell^® until 2034.

"We have had considerable success with Cathejell^® since launching this product in Canada in 2012," commented René Goehrum, President and CEO of BioSyent. "Cathejell^® has been a consistent contributor to our specialty products portfolio and we look forward to continuing to serve our hospital and urology customers over the long-term with this trusted product."

About Cathejell^®

Cathejell^® combines a sterile gel with lidocaine in a unique collapsible applicator syringe to ease patient discomfort for a range of medical procedures. Cathejell^® is indicated for surface anesthesia and lubrication for various procedures including male and female cystoscopies, catheterizations and other endourethral operations, endoscopies, proctoscopies, rectoscopies and tracheal intubations. Cathejell^® can also be used for the symptomatic treatment of pain in connection with cystitis and urethritis.

About BioSyent Inc.

Listed on the TSX Venture Exchange under the trading symbol "RX", BioSyent is a profitable growth-oriented specialty pharmaceutical company focused on in-licensing or acquiring innovative pharmaceutical and other healthcare products that have been successfully developed, are safe and effective, and have a proven track record of improving the lives of patients. BioSyent supports the healthcare professionals that treat these patients by marketing its products through its community, specialty and international business units.

As of the date of this press release, the Company has 11,981,319 common shares outstanding.

For a direct market quote for the TSX Venture Exchange and other Company financial information please visit www.tmxmoney.com.

For further information please contact:

Mr. René C. Goehrum
President and CEO
BioSyent Inc.
E-Mail: [email protected]
Phone: 905-206-0013
Web: www.biosyent.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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.