NICHOLAS PIRAMAL INDIA LIMITED AND BIOSYNTECH, INC. ANNOUNCE SIGNING OF FORMAL AGREEMENTS
Further to its press release of July 7, 2005, BioSyntech, Inc. (TSX VENTURE:BSY) is pleased to announce that the final agreements with respect to the private placement of 7,500,000 common shares of the company at a price of CDN$0.80 per share by Nicholas Piramal India Limited ("NPIL") have been signed today. Closing will occur as soon as regulatory approvals has been obtained in Canada and India. In addition, BioSyntech is pleased to announce that its annual meeting of shareholders will be held on September 21, 2005 at the Montreal Marriott Chateau Champlain, 1050 de la Gauchetiere Street West, Montreal, Quebec, Canada, Cartier Room. All shareholders are welcome.