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BioSyntech Announces Management Changes

^{Published on 2009-07-15 07:08:23, Last Modified on 2009-07-15 07:08:29 - Market Wire}
 

 LAVAL, QC, July 15 /CNW/ - BioSyntech, Inc. (TSX: BSY) announced today that it has retained the services of Ms. Jeanne Bertonis to assist the Company with its research and development, regulatory, strategic planning and business development strategies. Ms. Bertonis has 25 years of experience in the drug, device and biomaterials industries. She held the positions of Chief Business Officer and Vice President, Corporate Development for Angiotech Pharmaceuticals from 2000-2006, where she oversaw all of its business and corporate development functions, including mergers and acquisitions, strategic collaborations, and marketing. Prior to joining Angiotech, she held senior business development positions at Guidant and Genzyme, involving combination therapy for vascular devices, gene therapy, cell therapy and bioactive biomaterials. "Ms. Bertonis has extensive experience in the medical device sector, ranging from assisting early stage start-ups through to the acquisition and successful commercialization of products in publicly-traded companies. As such, she is ideally suited to assist BioSyntech in achieving its corporate objectives," said Dr. Joyce Tsang, Director and Chair of the Governance Committee of BioSyntech. BioSyntech also announced today that it has retained, through PricewaterhouseCoopers, Mr. Christian Belisle to assist the Company with various financial and accounting responsibilities. Mr. Belisle is a Senior Vice President at PricewaterhouseCoopers. From 2002-2009 he served as Vice President of Targanta Therapeutics, which he helped take public on NASDAQ in October 2007. BioSyntech also announced that Dr. Matthew Shive, Chief Scientific Officer, has informed the Board of Directors that he will leave the Company effective August 3, 2009. "Dr. Shive has played a key role in the development of BST-CarGel. We thank him for his dedication and contributions to BioSyntech over the last several years," added Dr. Tsang. About BioSyntech BioSyntech is a medical device Company specialized in the development, manufacturing and commercialization of advanced biotherapeutic thermogels for regenerative medicine (tissue repair) and therapeutic delivery. BioSyntech's platform technology is a family of hydrogels called BST-Gel(R), some of which are liquid at low temperature and solid at human body temperature. These gels can be injected or applied to a specific local site and offer beneficial properties for the local repair of damaged tissue such as cartilage, bone and chronic wounds and provide the benefit of avoiding invasive surgery. The Company's lead, late-stage product, BST-CarGel(R) is currently undergoing an international pivotal trial. For additional information, visit [ www.biosyntech.com ] Forward-Looking Statements This press release contains forward-looking statements and information which are subject to material risks and uncertainties. Such statements are not historical facts and are based on the current expectations of management. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause actual results, future circumstances, or events to differ materially from those projected in the forward-looking information. These risks include, but are not limited to, those associated with our capacity to finance our activities, the adequacy, timing, and results of our clinical trials, the regulatory approval process, competition, securing and maintaining corporate alliances, market acceptance of the Company's products, the availability of government and insurance reimbursements for the Company's products, the strength of intellectual property, the success of research and development programs, reliance on subcontractors and key personnel, and other risks and uncertainties detailed from time-to-time in our filings with the Canadian securities commissions. Readers should not place undue reliance on the forward-looking information, given that (i) our actual results could differ materially from a conclusion, forecast or projection in the forward-looking information, and (ii) certain material factors or assumptions which were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking information, could prove to be inaccurate. Additional information about (i) the material factors that could cause actual results to differ materially from the conclusion, forecast or projection in the forward-looking information, and (ii) the material factors or assumptions that were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking information, is contained in the Company's annual report and other documents filed from time to time with the Canadian securities commissions which are available at [ www.sedar.com ]. These statements speak only as of the date they are made, and we assume no obligation to revise such statements as a result of any event, circumstance or otherwise, except in accordance with law. %SEDAR: 00020217EF 

For further information: James Smith, The Equicom Group, (416) 815-0700 x229, [ Jsmith@equicomgroup.com ]