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BioSyntech appoints Chairman and additional Director to its Board

^{Published on 2009-08-24 06:24:34, Last Modified on 2009-08-24 06:24:36 - Market Wire}
 

 LAVAL, QC, Aug. 24 /CNW/ - BioSyntech, Inc. (TSX: BSY), a biotechnology company developing biotherapeutic thermogels for regenerative medicine, today announced it has appointed two additional members to its Board of Directors, Mr. André Archimbaud and Ms. Jeanne Bertonis, Chief Executive Officer for BioSyntech. Mr. Archimbaud will serve as Chairman of the Board. "Mr. Archimbaud brings his considerable experience in the life sciences and pharmaceutical sectors to his role of Chairman of the Board of Directors. Ms. Bertonis, as our newly appointed CEO, will now expand her role to include this board position," said Dr. Joyce Tsang, Director and Chair of the Governance Committee of BioSyntech. "These two individuals are experienced Board members and the counsel of both Mr. Archimbaud and Ms. Bertonis will be invaluable in helping BioSyntech to realize its corporate objectives." Mr. Archimbaud most recently served as Senior Vice President, Life Sciences for the Société Générale de Financement (SGF) du Québec, a government-owned investment entity contributing to the development of life sciences both locally and internationally. Prior to SGF, Mr. Archimbaud was the President and Chief Executive Officer of Vancouver-based Kinetek Pharmaceuticals Inc., a biotech start-up recognized for its expertise in the field of molecular biology applied to oncology. Mr. Archimbaud also held progressively senior roles in sales, marketing, business development and licensing in his 20 years with Ipsen Beaufour, a European pharmaceutical company. BioSyntech also announced that Dr. Matthew Shive, former Chief Scientific Officer of BioSyntech, has been retained as a consultant to Company. 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. 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 ]