On May 3, 2006, BioSyntech, Inc. completed the third tranche of a private placement offering of units consisting of common shares and warrants which, combined with previous tranches, raised aggregate gross proceeds of $21 million. The offering was led by Desjardins Securities Inc. and included Dundee Securities Corporation, as agents.

The agents were represented by Fasken Martineau with a team that consisted of Richard Steinberg, Steven Saville and Sarah Gingrich.