BioSyntech, Inc.

Agreement signed with Korean pharmaceutical company for purchase of 1.5M shares of stock

Published in Pharma Investments, Ventures and Law Weekly, November 20th, 2005

BioSyntech, Inc., (BSY) announced the signing of a letter of agreement with Kuhnil Pharma Co., Ltd., pursuant to which Kuhnil will purchase 1,500,000 common shares of the company at a price of $0.80 per share, for total proceeds of $1.2 million.

As part of this transaction, Kuhnil will acquire exclusive rights for marketing, sales and distribution of BioSyntech's BST-CarGel and BST-InPod for the Republic of Korea.

"We are very pleased to have Kuhnil, one of Korea's leading pharmaceutical company, as a new strategic partner," stated Claude LeDuc, president and CEO of BioSyntech. "This fast growing Korean pharmaceutical company has deep rooted...

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Source: Pharma Investments, Ventures and Law Weekly (2005-11-20)

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