Vyteris closes previously announced merger with MediSync BioServices

Vyteris, Inc. (OTC/BB: VYTR) today announced that on April 6, 2011, the Company closed on its previously announced agreement to merge with MediSync BioServices, Inc., now a wholly owned subsidiary of Vyteris focused on the potential consolidation of high-value, niche contract research organizations (CRO), site management organizations (SMO) and related businesses within the $22 billion CRO industry.

“MediSync provides us with a platform to broaden our corporate strategy, bringing both a revenue potential and execution expertise. The combined company represents a distinct opportunity in the life sciences industry that is guided by a team with a strong track record of value creation”

Founded in 2006, MediSync intends to acquire and consolidate dermatological CROs and related businesses, including SMOs, which sub-contract clinical trial-related responsibilities from CROs and pharmaceutical/biotechnology companies.

"With MediSync we look to advance our strategy for consolidation, growth and profitability in an established industry with exciting growth potential. MediSync's current and possible future operations intend to potentially serve a growing demand for outsourced clinical research and related services as drug and medical device developers may be attracted to the efficiency and flexibility offered by our CROs," said Haro Hartounian, Ph.D., Chief Executive Officer at Vyteris.

"MediSync provides us with a platform to broaden our corporate strategy, bringing both a revenue potential and execution expertise. The combined company represents a distinct opportunity in the life sciences industry that is guided by a team with a strong track record of value creation," he added.

MediSync's strategy is focused on bringing together established and profitable privately held CROs and related consulting firms to build a specialized cluster of businesses with complementary services that benefit from centralized administration, enhanced access to expansion capital and cross-selling capabilities. MediSync is pursuing acquisition targets that it intends to advance to closing in 2011 and 2012.

SOURCE Vyteris, Inc.