BioSyent Releases Results for Fourth Quarter and Full Year 2016

TORONTO, ONTARIO--(Marketwired - March 15, 2017) - BioSyent Inc. ("BioSyent") (TSX VENTURE:RX) released today a summary of its financial results for the three and twelve months ended December 31, 2016. Key highlights include:

• 2016 Net Revenues of $17,922,270 increased by 16% versus 2015
• Fourth quarter (Q4) 2016 Net Revenues of $5,009,668 a record quarter for the Company, increased by 30% versus Q4 2015
• 2016 Pharmaceutical Net Revenues of $16,663,159 increased by 16% versus 2015
• Q4 2016 Pharmaceutical Net Revenues of $4,922,773 increased by 30% versus Q4 2015
• 2016 EBITDA¹ of $5,900,080 increased by 15% versus 2015
• Q4 2016 EBITDA¹ of $1,591,047 increased by 58% versus Q4 2015
• 2016 Net Income After Tax (NIAT) of $4,309,505 increased by 14% versus 2015
• 2016 NIAT percentage to Net Revenues was 24% as compared to 24% in 2015
• Q4 2016 NIAT of $1,094,822 increased by 44% versus Q4 2015
• Q4 2016 NIAT percentage to Net Revenues of 22% compares to 20% in Q4 2015
• 2016 Fully Diluted EPS was $0.30 as compared to $0.26 in 2015
• Q4 2016 Fully Diluted EPS was $0.08 as compared to $0.05 in Q4 2015
• As at December 31, 2016, the Company had cash, cash equivalents, and short term investments totalling $13,739,286 as compared to $9,715,476 as at December 31, 2015 - a 41% increase
• Working capital increased by 40% from $10,821,785 as at December 31, 2015 to $15,184,016 as at December 31, 2016
• The Company remains free of long-term debt and has available total credit facilities of $2,559,000 including an unutilized revolving demand credit facility of $1,500,000
• Total Shareholders' Equity increased by 38% from $12,151,482 at December 31, 2015 to $16,726,716 at December 31, 2016
• Return on Equity for 2016 was 30% as compared to 37% for 2015

"Q4 2016 was a record quarter for BioSyent's pharmaceutical business" commented René Goehrum, President and CEO of BioSyent. "Q4 2016 sales exceeded $4.9 million and represented a 30% increase over Q4 2015 pharmaceutical sales. With this strong finish to the year, 2016 pharmaceutical sales grew by 16% over 2015. Both the Canadian and International pharmaceutical businesses showed good growth in 2016 with Canadian pharmaceutical sales of $15,113,621 growing by 14% and International pharmaceutical sales of $1,549,538 growing by 36% over 2015."

Mr. Goehrum continued, "while our existing products showed continued organic growth in 2016, we were also able to launch new products to the Canadian market during the year such as CYSVIEW^® with blue light cystoscopy and phenylephrine hydrochloride injection in the Aguettant System^® pre-filled syringe. Despite the investment in these launch products, profitability in 2016 was consistent with the previous year with a net profit margin of 24%. We also expanded the breadth and depth of our product portfolio with new license agreements signed in 2016 for exclusive Canadian rights to a women's health product and two cardiovascular products. We look forward to reporting on BioSyent's progress as we continue to cultivate our existing products, expand our product portfolio and launch new and innovative pharmaceutical and healthcare products to the Canadian market."

The CEO's presentation on the Q4 2016 Results is available at the following link: www.biosyent.com/q4-16/

The Company's Audited Consolidated Financial Statements and Management's Discussion & Analysis for the three months and years ended December 31, 2016 and 2015 will be posted on www.sedar.com on March 15, 2017.

The Company also wishes to announce that its Board of Directors has passed a resolution to grant a total of 31,227 stock options to management, officers and directors of BioSyent. The option grant is the result of BioSyent's annual compensation review and is made under the Company's Incentive Stock Option Plan ("the Plan") approved by shareholders on May 26, 2016. Each option entitles the optionee to purchase one common share of the Company at an exercise price of $7.35. These options are excerciseable for a period of ten years from the date of grant.

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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, hospital and international business units.

As of the date of this press release, the Company has 14,403,553 common shares issued and outstanding.

1. EBITDA - is a Non-IFRS Financial Measure. The term EBITDA does not have any standardized meaning under International Financial Reporting Standards (IFRS) and therefore may not be comparable to similar measures presented by other companies. The Company defines EBITDA as earnings before interest income or expense, income taxes, depreciation and amortization.

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.

The TSX Venture Exchange assumes no responsibility for the accuracy of  this release and neither approves nor disapproves of the same.