Nicholas Piramal India Ltd. has decided to subscribe to 7,500,000 common shares of the BioSyntech, Inc at a price of CAN$0.8 per share. The Company post-issue shareholding will be 17.1% of issued shares.

Biosyntech, Inc. is a Canada-based biotechnology research company that specializes in the discovery, development and manufacturing of cost-effective and physician-friendly biologic implants for therapeutic delivery and regenerative medicine.

The lead products of the company under advanced development are BST-CarGel. BST DermOn and BST-InPod, which are for cartilage regeneration, wound healing activation and fat pad reconstruction for heel pain respectively. Biosyntech has six other products under development for regenerative medicine and therapeutic delivery platforms.

As part of the arrangement, the Company will acquire exclusive rights for marketing, sales and distribution of current and future products of BioSyntech for India and neighbouring Asian markets.

In addition, the Companies have agreed to explore opportunities to collaborate for research and development activities with respect to future products using BioSyntech's technological platforms, a Nicholas release said here.