BioSyntech appoints new Board Members

    LAVAL, QC, July 22 /CNW/ - BioSyntech, Inc. (the "Company") (TSX:BSY) is
pleased to announce that Mr. Michel Lagueux, Dr. Karen Hong, Mr. Eric W.
Linsley and Mr. Winston Black have been appointed to the Board of Directors,
effective immediately. Mr. Joseph Benarrosh, Mr. Serge Savard and
Mr. Christophe Guy have resigned from the Board. In addition, Mr. Lagueux has
been appointed Chairman of the Board, replacing Mr. Benarrosh.
    "BioSyntech will benefit significantly from the addition of these new
Directors, who collectively bring a substantial and broad range of experience
in advancing biotechnology companies," said Claude LeDuc, President and CEO of
BioSyntech. "I would also like to extend our deepest gratitude to each one of
our outgoing Directors for their contributions to BioSyntech over the years."
    The Board changes were made in accordance with the provisions of a
recently completed underwriting agreement. As announced in the Company's press
release of July 8, 2008, the size of its Board of Directors has been increased
to nine members and three Directors have resigned from the Board to be
replaced by nominees of each of the four largest holders of Debentures issued
in the recent financing, namely ProQuest Investments, Solidarity Fund QFL,
Highland Capital Management and A.M. Pappas Life Science Ventures III LP

    About the new Directors

    Mr. Michel Lagueux was Senior Vice-President, Life Sciences, at the
Solidarity Fund QFL from November 2006 until May 2008. Holder of a Bachelor of
Business Administration, Mr. Lagueux has helped launch many bio-pharmaceutical
start-ups in the past 20 years and as a consultant has also provided strategic
planning advice to many Québec, Canadian and European life sciences companies.
From 1983 to 1994, Mr. Lagueux helped grow Pharmacia Canada, a subsidiary of
global giant Pharmacia Corporation. Then, after spending the next four years
working as a strategic planning consultant in Italy, he became President and
CEO of Canacure Corporation, a company operating in the nutraceuticals sector.
In 2002, he was appointed Vice-President, Health Sciences, at Innovatech du
Grand Montréal. Prior to his appointment at the Solidarity Fund QFL, Michel
Lagueux was managing partner at Multiple Capital, a venture capital firm
specializing in high technology and an affiliate of global giant Coller
Capital UK.

    Dr. Karen Hong, Ph.D. joined ProQuest Investments in 2001 as an Associate
and became a Principal in 2004. Currently, Dr. Hong serves on the Board of
Directors of Agile Therapeutics and has represented ProQuest as an observer on
the Board of Directors of BioRexis Pharmaceutical Corp. Prior to joining
ProQuest, Dr. Hong provided technical consultation to the healthcare group at
BancBoston Ventures and conducted basic biomedical research. Most recently,
she led research projects in mammalian cancer genetics in the laboratory of
Dr. Eric Lander at the Whitehead Institute for Biomedical Research. Dr. Hong
received her Ph.D. in biology from the Massachusetts Institute of Technology
and her B.S. in chemistry and B.A. in molecular biology from the University of
California at Berkeley.

    Mr. Eric W. Linsley, MBA, is an experienced operating executive and
venture capital investor who prior to joining Pappas in 2000 served as Chief
Financial Officer of TriPath Imaging, Inc. (Nasdaq:   TPTH), a medical device
company. Eric played a key role in the three-way merger between AutoCyte,
NeoPath and Neuromedical Systems that created TriPath. Prior to the merger, he
served as Chief Financial Officer and Vice President of Operations at AutoCyte
where he led the company in a successful public equity offering in 1997. From
1991 to 1997, Eric worked as an investment professional with Ampersand
Ventures, a leading venture capital firm based in Boston. He previously served
as a management consultant with Bain & Co. and McKinsey & Co., and was a
certified public accountant with Arthur Andersen LLP. Eric is a director of
Emerald BioAgriculture, FlowCardia, Sensys Medical, and Panacos
Pharmaceuticals (Nasdaq:   PANC). Mr. Linsley received a BA in Economics from
Trinity College, an MS in Accounting from New York University and an MBA from
the Wharton School at the University of Pennsylvania.

    Mr. Winston Black joined Highland Capital Management, L.P. as a Senior
Portfolio Analyst in September 2007. Prior to this, Mr. Black was COO/Analyst
and Chief Compliance Officer at Mallette Capital Management, Inc., a biotech
focused hedge fund, from 2005 to 2007. At Mallette Capital, Mr. Black focused
on the generation and execution of investment ideas in the biotech and
specialty pharmaceuticals sectors. From 2000 to 2005, Mr. Black was Vice
President, Corporate Development for ATX Communications, Inc. where he was a
core member of a turn-around management team that successfully completed a
three-phase restructuring process, resulting in the recapitalization of
approximately $1.2bn of various debt and equity securities and operational
liabilities in both in- and out-of-court transactions. Mr. Black began his
career in 1998 as an investment banking analyst in the Healthcare and
Telecommunications groups at Salomon Smith Barney. Mr. Black received MBAs
with distinction from both Columbia Business School and London Business
School, and he received a BA in Economics from Duke University, where he
graduated cum laude.


    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 dilution for existing shareholders
resulting from such financings, the adequacy, timing, and results of our
clinical trials, the regulatory approval process, competition, securing and
maintaining corporate alliances, market acceptance of the Corporation's
products, the availability of government and insurance reimbursements for the
Corporation'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 is contained in the Corporation's annual report and other
documents filed from time to time with the Canadian securities commissions
which are available at 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:

For further information: Claude LeDuc, President and CEO, BioSyntech
Inc., (450) 686-2437; François Michaud, CFO, BioSyntech Inc., (450) 686-2437

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