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BioSyent signs licensing deal for new urgent care drug product

BioSyent Pharma has signed an exclusive licensing and distribution agreement with an existing European partner for a new product that will be marketed by its Hospital Products Division.

The new product, which will be launched after Health Canada approval, uses a patented delivery system that provides technical advantages over existing alternatives and will be used in hospitals and acute care settings.

According to the company, these products will provide hospitals, clinics, and healthcare professionals with improved patient safety as well as operational efficiencies.

BioSyent president and CEO René Goehrum said this is the third product that the company has in-licensed from the same partner that uses the same underlying patented technology.

Goehrum said: "The first of the three is already approved and being prepared for launch later this year or early next, and the second is in the latter stages of the Health Canada approval process.

"We have already started discussions and due diligence with our European partner on the fourth product that utilizes this technology and we are aware that they are developing more such products.

"This new product deal brings the combined number of products that BioSyent Pharma has either in-market, Health Canada approved, or in-licensed to eight."