Target Price for Sirona Biochem (SBM:tsxv) 0.98$
Sirona Biochem (SBM:tsxv) Gets BUY Rating : Target Price CAD 0.98$
– Momentum Public Relations –
Yesterday, First Berlin Equity Research published a research update on Sirona Biochem Corp. (SBM:tsxv). Analyst Ellis Acklin reiterated his BUY rating and increased the price target from CAD 0.90 to CAD 0.98.
This is an abbreviated summary. The full text of this story (including disclosure) is included below.
Abstract:
Sirona Biochem Corp. (Sirona) published annual results for the year ended 31 October 2015. Results were largely in line with our forecasts. The company continues to communicate confidence in the signing of a new agreement for its promising skin lightening treatment TFC-1067. We see this as a potential watershed event for the company. Potential upfront, milestone and royalty payments harbour significant upside for Sirona once a deal is sealed. After recalibrating our forecasts and model, we raise our price target to C$0.98 (previously: C$0.90) and reiterate our Buy rating.
Financial Forecasts: |
2013 |
2014 |
2015 |
2016E |
2017E |
2018E |
Revenue (CADm) |
0.00 |
0.21 |
0.01 |
0.38 |
8.79 |
21.45 |
EBIT (CADm) |
-2.64 |
-3.48 |
-3.48 |
-3.20 |
5.13 |
17.69 |
EPS (diluted) (CAD) |
-0.03 |
-0.03 |
-0.03 |
-0.01 |
0.02 |
0.07 |
FCF (CADm) |
-2.62 |
-2.09 |
-3.18 |
-2.88 |
2.76 |
10.88 |
http://www.slideshare.net/MomentumPR/first-berlin-equity-research-sbmtsxv
- Published in Blog, Life Sciences, Sirona Biochem
Sirona Presented at the Dose of the Valley Conference
Sirona Biochem attends the Dose of the Valley Conference, San Francisco
– Momentum Public Relations –
Sirona Biochem (SBM:tsxv), an emerging biochemistry company based in Vancouver, B.C., was invited for the second time by the consulate general of Canada in San Francisco to present at the annual Dose of the Valley Conference. The invite-only event took place on February 9-10, 2016 in San Francisco, California.
Sirona Biochem had the unique opportunity to showcase its proprietary platform technology, as well as its diabetes and anti-aging assets to international key players to the likes of l’Oreal, Merck and Johnson & Johnson. During the event, they participated in facilitated meetings, follow up discussions and received feedback from investors. Most importantly, the exclusive event offered many potential partnering opportunities.
Needless to say, this was a cruicial event for Sirona Biochem as their products could bring value to big pharma companies around the world. “Sirona has an innovative platform technology that can be applied to develop new compounds in areas of unmet needs, and we have already begun to explore strategic partnerships with big pharma to unlock the potential value in new opportunities,” said Attila Hajdu, Sirona Biochem’s Chief Business Development Officer, prior to the conference.
Dose of the Valley Conference, San Francisco
The Dose of the Valley conference is a two-day event put together by the C100, BDC Venture Capital, and the Consulate General of Canada in San Francisco. The prestigious event offers the exclusive opportunity to connect a select few of Canada’s most promising life science companies from the biopharmaceutical, medical device and health IT sectors with key players in the Bay Area and Silicon Valley.
San Francisco and more specifically, Silicon Valley is an international hub for flourishing companies in the life sciences sector. A large handful of pharmaceutical companies, medical providers, venture capital, and technology companies have settled in the region, which holds infinite opportunities for Canadian companies such as Sirona Biochem. “The criteria for selection were evaluated on stage of development and industry validation, so we are excited to participate in such a focused event,” added Hajdu. In addition, applications to attend were based on relevancy to industry interests. A few other companies selected to attend were Zucara Therapeutics and the Commercialization for Research Institute in Immunology and Cancer (IRICoR).
The Dose of the Valley Conference was held on February 9-10 in San Francisco, California, and facilitated face-to-face meetings with potential investors, technology scouts, mentors and other industry experts. In attending, Sirona Biochem hoped to gain visibility and develop new partnerships. Sirona’s Chief Business Development Officer Attila Hajdu presented the Company’s pipeline and future strategy at the conference. Hajdu also participated in follow up meetings with key investors and leading companies in the pharmaceutical and cosmetic industries.
About Sirona Biochem
Founded in 2009, Sirona Biochem is a Vancouver based ingredient and drug discovery company dealing with proprietary innovative platform technology of fluorination chemistry. In 2011, the company acquired TF Chem for their chemistry technology and expertise. They develop safer, more effective cosmetic and pharmaceutical active ingredients that are licensed to various partners in exchange for upfront milestone and royalty payments.
The company has recently made headlines as they are currently in discussions with five of the largest pharmaceutical companies in the world about licensing their new skin-lightening technology. This represents a major deal for Sirona, which has a market cap of just over $30 million. For additional information visit www.sironabiochem.com, we have also included their corporate video presentation below.
- Published in Blog, Sirona Biochem
Sirona Biochem: The Leader in Carbohydrate Stabilization Technology
Sirona Biochem: The Global Leader in Carbohydrate Stabilization Technology
– Momentum Public Relations –
Sirona Biochem (SBM:tsxv) is a proactive development and discovery stage based biotech firm with an R&D lab situated in Paris, France. The biotechnology enterprise is headquartered in Vancouver, British Columbia in Canada, and is world renowned for its state of the art fluorination chemistry technology. Their cutting edge platform is currently used to create cosmetic products that are both safe and effective for human use and consumption, as well as a plethora of pharmaceutical drugs.
Moreover, their leading edge compounds are either acquired by or licensed by multinational conglomerates in return for royalties, milestone payments, and/or marked upfront payments. It should also be noted that their platform focuses on the molecular stabilization of carbohydrates; which is noteworthy because carbohydrate based drugs are one of the most commonly prescribed drug families in the United States. De facto, some of the most commonly prescribed carbohydrate based drugs in the United States include Abbott’s Biaxin, Pfizer’s Zithromax, and GlaxoSmithKline’s Lanoxin.
In addition, Sirona Biochem currently has two licensing agreements with two multibillion dollar companies; namely Valeant Pharmaceuticals International (VRX:tsx) and Wanbang Biopharma. Valeant was founded in 1960 in Laval, Quebec, Canada and generated revenues of 2.73 billion U.S. in Q2 of 2015. What’s more, Valeant recently licensed a safe and innovative skin lightener, with Sirona Biochem to reap several millions in royalties in the near future from the licensing deal.
As for Wanbang Biopharma, the company was founded in China in 1998 and is a part of Fosun International (9.4 billion in U.S. revenue). The corporation focuses on the development of pharmaceutical drugs used to treat diabetes and associated cardiovascular diseases. Wanbang Biopharma also recently acquired the exclusive rights to sell the SGLT2 inhibitor that Sirona Biochem developed to treat type 2 diabetes. With the exclusive rights, Wanbang Biopharma will be able to sell the inhibitor in the People’s Republic of China, with $9.5 million in U.S. payments being awarded to Sirona Biochem in the form of milestone and upfront payments; with a percentage of total sales also being awarded to the pharmaceutical company in the form of perpetual royalties.
In regards to the skin lightening market, it is currently focused in the Asian Pacific regions and Japan, with the booming market expected to generate over 20 billion U.S. in revenue by 2018; with an annual growth rate projected at 25{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}. However, many of the skin lightening products currently being sold globally contain malevolent compounds; including DeoxyArbutin, Arbutin, and Hydroquinone. Due to the controversy and health concerns surrounding the aforementioned skin lightener compounds products containing these compounds are strictly regulated and even outright banned in certain countries.
Fortunately, Sirona Biochem has created a safe alternative compound known as TFC-1067 to resolve these issues. TFC-1067 is not only safe but also boasts 8 times the efficacy of DeoxyArbutin. Given the numerous benefits that TFC-1067 provides over its competitors, multinational cosmetic conglomerates like Proctor and Gamble, Allergan, L’Oreal, and Amore Pacific Corporation with marketed skin lighteners are interested in Sirona’s leading edge compound.
Industry analysts have predicted that the global anti-aging market is expected to reach nearly $300 billion by 2015. Interestingly, Sirona is developing unique regenerative compounds based on research conducted by Professor Arthur DeVrie in the late 1960s. Essentially, his research found that the reason why Antarctic fish were able to survive in harsh, subzero temperatures was due to blood serum glycoproteins. Inspired by Professor Arthur DeVrie’s monumental discovery, Sirona Biochem is currently producing a family of regenerative, anti-aging, and naturally occurring compounds that are based on the antifreeze and anti-aging glycoproteins
Furthermore, in vitro studies have shown that these glycoproteins have a protective effect in fibroblasts against a myriad of stresses caused by nutrient depravation, oxidation, and UV light; all of which contribute to the visible signs of aging.
As Sirona Biochem continues to work diligently to harness the full protective and restorative properties of these glycoproteins the company is currently looking to collaborate with several global multinationals to further characterize and develop these glycoproteins for a myriad of commercial applications. In addition, their early stage partnerships with many prominent entities will allow Sirona Biochem to provide added value to their shareholders by maximizing their ROI. Another benefit of their ongoing projects is that they have a very short time to approval; with FDA approvals not being required.
If you would like to learn more about the world leader in carbohydrate chemistry commercialization please visit here.
- Published in Blog, Life Sciences, Sirona Biochem
TickerTrax Insights: V.SBM 12 cents: Skin whitening, anti-aging and diabetes
In 2015 I am hunting for promising opportunities outside of resource exploration that will provide diversification with strong capital gain potential. Sirona Biochem Corp. (TSX: V.SBM, Stock Forum) has a lot in the pipeline that could have a big impact on share price in 2015. But this type of stock is very difficult to buy on good news. Case in point – July 31, 2014 Sirona announced successful synthesis of an anti-inflammatory compound for their Bloom Burton joint venture. At the time I would have viewed this as good news but not “great” news. The stock over the next three days gained 50{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} on 20 million shares of buying! It came back over time because of this lousy market but it shows how quickly these biotech micro cap stocks can move. When you are finished reading my report I think you will recognize the same potential I see for multiple avenues of high impact news over the next year or two. In particular are licensing deals with big pharmaceutical or cosmetic companies. These can not only produce initial payments worth several hundred million dollars, but ongoing royalties worth even more. These are the type of licensing agreements we will be speculating on (hoping for) with Sirona. The current market cap is only $15 million so there is plenty of room for growth. I tried to shorten my report length from fourteen pages but there is too much relevant information that needs to be properly digested. It is a detailed report but it will help you understand the risk/reward opportunity. Source Full Report
- Published in Blog
Sirona Subsidiary, TFChem, Receives CDN$1.2 Million for Anti-Aging Project
VANCOUVER, BC–(Marketwired – August 12, 2014) – Sirona Biochem Corp. (TSX VENTURE: SBM) (OTCQX: SRBCF) (FRANKFURT: ZSB), (the “Company”) announced that its French subsidiary, TFChem, has received confirmation for funding of CDN$1.2 million from Bpifrance (the French Public Investment Bank) and the district of Haute Normandie in the form of a no-interest loan. The funds will be used to advance the organization’s anti-aging project.
The loan, co-funded by Bpifrance and the district of Haute Normandie, will be dispersed in lump sums and is strictly allocated for advancement of the anti-aging compounds into preclinical testing. Repayment of the loan will be made in installments, beginning in Q3 2018 with the majority being paid after 2020. The company expects to be into substantial milestone and royalty payments before any repayment of the loan begins.
“With the tremendous support provided by this loan the need to arrange financings over the next 12 to 18 months are anticipated to be minimal,” reports CEO and Chairman of Sirona Biochem, Dr. Howard Verrico. “The funding received from Bpifrance and the district of Haute Normandie will enable us to start testing our library of anti-aging compounds without dilution. We are very excited about the potential of these compounds and the interest shown in them.”
The global anti-aging product market is currently valued at over $220 Billion USD with a CAGR of 5.2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}. It’s expected to be nearly $285 Billion USD by the year 2018.1
About Sirona Biochem and TFChem
Sirona Biochem is a cosmetic ingredient and drug discovery company with a proprietary technology platform developed at its laboratory facility in France. The company specializes in the stabilization of carbohydrate molecules, with the goal of improving compounds’ efficacy and safety. Sirona Biochem’s compounds are patented as new chemical entities for maximum commercial protection and revenue potential. Newly developed compounds are licensed to leading companies around the world in return for licensing and milestone fees and ongoing royalty payments. TFChem, Sirona Biochem’s wholly-owned French laboratory is a recipient of multiple French national scientific awards and a European Union and French government grant. For more information visit www.sironabiochem.com or www.tfchemistry.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Sirona Biochem cautions you that statements included in this press release that are not a description of historical facts may be forward-looking statements. Forward-looking statements are only predictions based upon current expectations and involve known and unknown risks and uncertainties. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of release of the relevant information, unless explicitly stated otherwise. Actual results, performance or achievement could differ materially from those expressed in, or implied by, Sirona Biochem’s forward-looking statements due to the risks and uncertainties inherent in Sirona Biochem’s business including, without limitation, statements about: the progress and timing of its clinical trials; difficulties or delays in development, testing, obtaining regulatory approval, producing and marketing its products; unexpected adverse side effects or inadequate therapeutic efficacy of its products that could delay or prevent product development or commercialization; the scope and validity of patent protection for its products; competition from other pharmaceutical or biotechnology companies; and its ability to obtain additional financing to support its operations. Sirona Biochem does not assume any obligation to update any forward-looking statements except as required by law.
- Published in Life Sciences
Sirona, Bloom Burton makes anti-inflammatory compound
Mr. Howard Verrico reports
SIRONA BIOCHEM ANNOUNCES SUCCESSFUL SYNTHESIS OF ANTI-INFLAMMATORY COMPOUND FOR BLOOM BURTON & CO. JOINT VENTURE
Sirona Biochem Corp. has achieved the first batch of compound in the joint venture with Bloom Burton & Co. Compounds developed within the framework of the JV will be entering development in the areas of rare inflammatory and infectious diseases.
At present, there are unmet market needs in the areas of rare or neglected inflammatory diseases and bacterial resistance. Sirona and Bloom Burton are identifying and designing a library of compounds to address these substantial markets which combined reach nearly $2-billion (U.S.) each year globally. Sirona is responsible for the chemistry and Bloom Burton for the financing, clinical validation as well as the commercialization of the compounds.
“We could not be more pleased with the completion of the first synthetic compounds. This is a major milestone in the development of our portfolio for rare and neglected diseases,” said Howard Verrico, chief executive officer of Sirona Biochem. “The team at Bloom Burton will plan for the testing of our new anti-inflammatory compounds in the near future. In the next several months, we will be working on the development of further compounds for our JV with Bloom Burton as planned.”
© 2014 Canjex Publishing Ltd. All rights reserved.
- Published in Life Sciences
SIRONA ARRANGES CONVERTIBLE LOANS
Sirona Biochem Corp. (SBM.V) has entered into convertible loan agreements with arm’s-length parties for the purposes of renewing current outstanding loans in the total amount of $670,000. The original loans were taken out in late 2012 and became due this quarter.
The new loans are secured by promissory notes held by each lender, bear interest at a rate of 12 per cent per annum and are due 18 months from the date of advance of each loan or such other mutually agreed upon date. Interest is payable on a quarterly basis at the end of each calendar quarter. Demand payment of each loan and accrued interest thereon may be made after one year from the date of advance of such loan.
Each lender has the right to elect, at its sole discretion, to convert all or a portion of its loan, including accrued interest, at any time during the term of such loan into common shares of the company at a price of 12 cents per share.
Any shares issued as a result of the conversion of the loans will be subject to applicable regulatory hold periods expiring four months and one day from the date of issue of such shares.
The loan agreements and all securities proposed to be issued thereunder as a result of conversion are subject to the acceptance of the TSX Venture Exchange.
We seek Safe Harbor.
- Published in Life Sciences
Stand-in CEO insists that Sirona Biochem hasn’t lost its focus
Sirona Biochem announces it will continue to focus on the skin care market and develop new active ingredients for the cosmetics market, and will be unaffected by its change in management.
Last month company CEO Neil Belenkie resigned from the company and with Howard Verrico taking up the role.
The Canadian company has been working on the development of many new active ingredients, one of which was with global manufacturer L’Oréal on Antarctic fish, and Verrico states that this will still be the case.
“I can assure you we are moving along on all initiatives as planned,” Verrico states in an open letter.
Change of plan
When it comes to plans that were in the pipeline prior to Belenkie’s resignation, there have been a few changes, however.
In February this year, Sirona announced the completion of a $1.2M private placement, which was originally expected to be followed up with a US-led investment of approximately $4 million.
However, this initiative was abandoned since terms did not meet the new vision for the direction of the company, with Verrico underlining that Sirona is unwilling to settle for terms that it feels create risk to the current shareholder value.
The new boss states that there are financing needs to be taken into consideration over the next 12-18 months, but that this should not raise concern, especially as there appears to be heightened interest from European investors.
R&D focus
The current R&D focus is to manufacture and monetize its skin lightener as planned with Obagi/ Valeant, and develop the anti-aging library of compounds in anticipation of government funding and commencement of pre-clinical studies.
“Sirona Biochem remains committed to a streamlined business strategy of chemistry, patent and license,” says Verrico.
“Our expertise remains in creating new chemical compounds (pharmaceutical and cosmetic) that have distinct advantages over existing technologies. Each compound that we create will be licensed to an industry-leading company who will be responsible for developing, manufacturing and selling the compound.”
Verrico adds that the value of Sirona lies in its technology and the intention is to put resources behind this and create shareholder value.
He believes that Sirona is well positioned to take advantage of some of the major opportunities that are available and is working to take the company to the next level.
- Published in Life Sciences
Sirona Biochem Corporation – CEO Letter to Shareholders
<p id=”yui_3_16_0_1_1406034781965_1472″><span style=”font-family: arial; font-size: 12pt;”><span id=”yui_3_16_0_1_1406034781965_1471″ class=”mw_region”>VANCOUVER, BC</span>–(Marketwired – July 21, 2014) – Sirona Biochem Corp. <span class=”mw_ticker”>(TSX VENTURE: SBM)</span> <span class=”mw_ticker”>(<a href=”http://finance.yahoo.com/q?s=srbcf” data-rapid_p=”8″>SRBCF</a>)</span> <span class=”mw_ticker”>(<a href=”http://finance.yahoo.com/q?s=zsb.f” data-rapid_p=”9″>ZSB.F</a>)</span> today provided a business update. </span></p>
<p id=”yui_3_16_0_1_1406034781965_1479″><span style=”font-family: arial; font-size: 12pt;”>Dear Shareholders and Investors,</span></p>
<p id=”yui_3_16_0_1_1406034781965_1481″><span style=”font-family: arial; font-size: 12pt;”><img style=”float: right;” src=”http://www.financialbuzz.com/videos/07212014/howard.jpg” alt=”Howards” width=”203″ height=”286″ />As announced in our recent news release, I, Howard Verrico, have stepped in as CEO of Sirona Biochem. Although this change is significant, I have always maintained an active role in Sirona’s operations throughout its history making this an efficient transition. I can assure you we are moving along on all initiatives as planned. As founder, Chairman of the Board and a major shareholder I will personally ensure the re</span><span style=”font-family: arial; font-size: 12pt;”>sponsibilities and deliverables of CEO are achieved. Under supervision of Sirona’s Board, the search, selection and appointment of a new executive management team member will occur as a priority task.</span></p>
<p><span style=”font-family: arial; font-size: 12pt;”><strong>Financial: </strong></span></p>
<p><span style=”font-family: arial; font-size: 12pt;”>In February 2014, we announced the completion of a $1.2M private placement. The original plan was to follow this up with a US led investment of approximately $4 million. This initiative was abandoned since terms did not meet our vision for the direction of our company. The management of the company was and is unwilling to settle for terms that we feel create risk to the current shareholder value. </span></p>
<p id=”yui_3_16_0_1_1406034781965_1484″><span style=”font-family: arial; font-size: 12pt;”>We anticipate minimal financing needs over the next twelve to eighteen months. To avoid unnecessary dilution, we will continue to apply for government grants and loans where applicable rather than pursue an equity raise. Moreover, we are expecting further substantial milestone payments as well as initial royalty payments.</span></p>
<p id=”yui_3_16_0_1_1406034781965_1538″><span style=”font-family: arial; font-size: 12pt;”>Our current institutional investors remain very supportive of our future growth strategy. We have recently been encouraged by strong interest from European investors which could bode very well for us going forward. In addition to that, we plan to further increase market awareness for Sirona in the next several months.</span></p>
<p id=”yui_3_16_0_1_1406034781965_1540″><span style=”font-family: arial; font-size: 12pt;”><strong>Strategy: </strong></span></p>
<p id=”yui_3_16_0_1_1406034781965_1542″><span style=”font-family: arial; font-size: 12pt;”>Sirona Biochem remains committed to a streamlined business strategy of chemistry, patent and license. </span></p>
<p id=”yui_3_16_0_1_1406034781965_1544″><span style=”font-family: arial; font-size: 12pt;”>Our expertise remains in creating new chemical compounds (pharmaceutical and cosmetic) that have distin</span><span style=”font-family: arial; font-size: 12pt;”>ct advantages over existing technologies. Each compound that we create will be licensed to an industry-leading company who will be responsible for developing, manufacturing and selling the compound. In return, Sirona will receive licensing fees, milestone payments and ongoing royalty payments. </span></p>
<p><span style=”font-family: arial; font-size: 12pt;”><span id=”yui_3_16_0_1_1406034781965_1471″ class=”mw_region”><img style=”float: left;” src=”http://www.financialbuzz.com/videos/07212014/siron.jpg” alt=”Lab” width=”297″ height=”197″ /></span></span><span style=”font-family: arial; font-size: 12pt;”>Through our platform technology, we have been able to diversify our risk across multiple projects, increase our portfolio size more quickly and continue to build our credibility and reputation as experts in the discovery of innovative therapeutics.</span></p>
<p><span style=”font-family: arial; font-size: 12pt;”>The Board of Directors is taking an increasingly active role in refining the company strategy and how it is implemented. Our Board has a diverse and valuable skill set which we are utilizing to the fullest extent. </span></p>
<p><span style=”font-family: arial; font-size: 12pt;”><strong>Operations: </strong></span></p>
<p><span style=”font-family: arial; font-size: 12pt;”>In March, we bolstered our France team with the addition of Claude Nivet. Claude’s official title is Laboratory Manager. This role was developed specifically to assist in growing operations and relieving our Chief Scientific Officer, Geraldine Deliencourt-Godefroy, of some of her non-scientific tasks. This will allow her to focus on innovation and management of the current pipeline. </span></p>
<p><span style=”font-family: arial; font-size: 12pt;”>Our current R&D focus is on the following: </span></p>
<ul id=”yui_3_16_0_1_1406034781965_1602″ style=”list-style-type: disc;”>
<li><span style=”font-family: arial; font-size: 12pt;”>Assist Obagi/Valeant in the manufacturing and monetization of our skin lightener. Obagi/Valeant will be responsible for the formulation and sales of the compound;</span></li>
<li id=”yui_3_16_0_1_1406034781965_1601″><span style=”font-size: 12pt;”>Develop the anti-aging library of compounds in anticipation of government funding and commencement of pre-clinical studies; </span></li>
<li><span style=”font-size: 12pt;”>Synthesize the anti-inflammatory compound for our Bloom Burton partnership.</span></li>
</ul>
<p id=”yui_3_16_0_1_1406034781965_1604″><span style=”font-family: arial; font-size: 12pt;”><br />As projects progress and resources become available, we will explore new areas where our technology will add significant value.</span></p>
<p><span style=”font-family: arial; font-size: 12pt;”><strong>Current Business Development: </strong></span></p>
<ul id=”yui_3_16_0_1_1406034781965_1607″ style=”list-style-type: disc;”>
<li><span style=”font-family: arial; font-size: 12pt;”>At the end of April 2014, Wanbang Biopharmaceuticals began pre-clinical validation for Sirona Biochem’s second generation SGLT2 Inhibitor. To date, Sirona has received Wanbang’s initial licensing fee and the Chinese government’s innovation tax application has been approved. Wanbang has successfully hired an expert in pharmacology and toxicity to lead the project and compound synthesis has begun to ensure quantities of the compound will be available for all future clinical trials. Further updates from Wanbang will become available shortly.</span></li>
<li id=”yui_3_16_0_1_1406034781965_1606″><span style=”font-size: 12pt;”>Obagi Medical Products is moving forward on Sirona Biochem’s skin lightening compound TFC-849. Obagi Medical Products is responsible for all development, manufacturing and sales of the compound and in return Sirona Biochem will receive licensing and milestone fees and ongoing royalty payments.</span></li>
<li><span style=”font-size: 12pt; font-family: arial;”>Our Joint Venture with Bloom Burton and Co. is progressing nicely. Once the first compound is synthesized, it will enter early stage testing. Bloom Burton is Canada’s largest and most active healthcare-specialized investment banking firm. The goal of this joint venture is to conduct collaborative research to develop and commercialize new therapeutics in the areas of inflammation and infectious disease.</span></li>
<li><span style=”font-size: 12pt;”>Sirona’s Chief Scientific Officer recently attended industry meetings in New York City. The meetings were very successful and have generated multiple potential partnerships. We will provide updates regarding these opportunities on the next shareholder letter. Although we have a number of significant partnering initiatives fully executed and underway, we are continuing to explore new partnership opportunities and currently have multiple ongoing conversations with large Pharma and cosmetic companies around the world.</span></li>
</ul>
<p><span style=”font-family: arial; font-size: 12pt;”><br />Our goal has always been for Sirona Biochem to become the global leader in the process of compound stabilization which leads to unlimited applications in pharmaceuticals and cosmetics. The value of Sirona Biochem lies in its technology and we intend to put our resources behind this. At the end of the day, our common goal is to create shareholder value which is exactly what we work to accomplish every single day. Sirona is well positioned to take advantage of some of the major opportunities that are available to us and we are working diligently to take our company to the next level. </span></p>
<p><span style=”font-family: arial; font-size: 12pt;”>I sincerely appreciate the past support of our shareholders and ask for your future support as we move forward. </span></p>
<p><span style=”font-family: arial; font-size: 12pt;”>Best Regards,</span></p>
<p><span style=”font-family: arial; font-size: 12pt;”>Dr. Howard Verrico</span><br /><span style=”font-family: arial; font-size: 12pt;”> CEO, Chairman of the Board</span><br /><span style=”font-family: arial; font-size: 12pt;”> Sirona Biochem </span></p>
<p><span style=”font-family: arial; font-size: 12pt;”><strong>About Sirona Biochem Corp. </strong></span></p>
<p id=”yui_3_16_0_1_1406034781965_1609″><span style=”font-family: arial; font-size: 12pt;”>Sirona Biochem is not a traditional biotech company. Sirona is a product-pipeline company with a proprietary technology platform developed at its laboratory facility in France. The company specializes in the stabilization of carbohydrate molecules, with the goal of improving compounds’ efficacy and safety. Sirona Biochem’s compounds are being developed for both pharmaceutical and cosmetic marketplaces and are patented as new chemical entities for maximum commercial protection and revenue potential. Newly developed compounds are licensed to leading companies around the world in return for licensing and milestone fees and ongoing royalty payments. TFChem, Sirona Biochem’s wholly-owned French laboratory is a recipient of multiple French national scientific awards and a European Union and French government grant. For more information please visit <a href=”http://www.sironabiochem.com/” rel=”nofollow” data-rapid_p=”10″>www.sironabiochem.com</a>.</span></p>
<p>Contact:</p>
<p><span style=”font-family: arial; font-size: 12pt;”> For more information regarding this press release, contact:</span><br /><span style=”font-family: arial; font-size: 12pt;”>Christopher Hopton </span><br /><span style=”font-family: arial; font-size: 12pt;”>CFO</span><br /><span style=”font-family: arial; font-size: 12pt;”>Sirona Biochem Corp. </span><br /><span style=”font-family: arial; font-size: 12pt;”>Phone: 1.604.282.6064</span><br /><span style=”font-family: arial; font-size: 12pt;”>Email: <a href=”mailto:chopton@sironabiochem.com” rel=”nofollow” data-rapid_p=”11″>chopton@sironabiochem.com</a></span></p>
- Published in Life Sciences
SIRONA BIOCHEM CORPORATION – CEO LETTER TO SHAREHOLDERS
Sirona Biochem Corp. has provided a business update in the form of a shareholders letter from the chief executive officer.
Dear shareholders and investors,
As announced in our recent news release, I, Howard Verrico, have stepped in as chief executive officer of Sirona Biochem. Although this change is significant, I have always maintained an active role in Sirona’s operations throughout its history, making this an efficient transition. I can assure you we are moving along on all initiatives as planned. As founder, chairman of the board and a major shareholder, I will personally ensure the responsibilities and deliverables of chief executive officer are achieved. Under supervision of Sirona’s board, the search, selection and appointment of a new executive management team member will occur as a priority task.
Financial
In February, 2014, we announced the completion of a $1.2-million private placement. The original plan was to follow this up with a U.S.-led investment of approximately $4-million. This initiative was abandoned since terms did not meet our vision for the direction of our company. The management of the company was and is unwilling to settle for terms that we feel create risk to the current shareholder value. We anticipate minimal financing needs over the next 12 to 18 months. To avoid unnecessary dilution, we will continue to apply for government grants and loans, where applicable, rather than pursue an equity raise. Moreover, we are expecting further substantial milestone payments, as well as initial royalty payments.
Our current institutional investors remain very supportive of our future growth strategy. We have recently been encouraged by strong interest from European investors, which could bode very well for us going forward. In addition to that, we plan to further increase market awareness for Sirona in the next several months.
Strategy
Sirona Biochem remains committed to a streamlined business strategy of chemistry, patent and licence.
Our expertise remains in creating new chemical compounds (pharmaceutical and cosmetic) that have distinct advantages over existing technologies. Each compound that we create will be licensed to an industry-leading company who will be responsible for developing, manufacturing and selling the compound. In return, Sirona will receive licensing fees, milestone payments and ongoing royalty payments.
Through our platform technology, we have been able to diversify our risk across multiple projects, increase our portfolio size more quickly, and continue to build our credibility and reputation as experts in the discovery of innovative therapeutics.
The board of directors is taking an increasingly active role in refining the company strategy and how it is implemented. Our board has a diverse and valuable skill set, which we are utilizing to the fullest extent.
Operations
In March, we bolstered our France team with the addition of Claude Nivet. Claude’s official title is laboratory manager. This role was developed specifically to assist in growing operations and relieving our chief scientific officer, Geraldine Deliencourt-Godefroy, of some of her non-scientific tasks. This will allow her to focus on innovation and management of the current pipeline. Our current research and development focus is on the following:
- Assist Obagi/Valeant in the manufacturing and monetization of our skin lightener; Obagi/Valeant will be responsible for the formulation and sales of the compound;
- Develop the anti-aging library of compounds in anticipation of government funding and commencement of preclinical studies;
- Synthesize the anti-inflammatory compound for our Bloom Burton partnership.
As projects progress and resources become available, we will explore new areas where our technology will add significant value.
Current business development
- At the end of April, 2014, Wanbang Biopharmaceuticals began preclinical validation for Sirona Biochem’s second-generation SGLT2 Inhibitor. To date, Sirona has received Wanbang’s initial licensing fee, and the Chinese government’s innovation tax application has been approved. Wanbang has successfully hired an expert in pharmacology and toxicity to lead the project, and compound synthesis has begun to ensure quantities of the compound will be available for all future clinical trials. Further updates from Wanbang will become available shortly.
- Obagi Medical Products is moving forward on Sirona Biochem’s skin lightening compound TFC-849. Obagi Medical Products is responsible for all development, manufacturing and sales of the compound, and, in return, Sirona Biochem will receive licensing and milestone fees and ongoing royalty payments.
- Our joint venture with Bloom Burton and Co. is progressing nicely. Once the first compound is synthesized, it will enter early stage testing. Bloom Burton is Canada’s largest and most active health-care-specialized investment banking firm. The goal of this joint venture is to conduct collaborative research to develop and commercialize new therapeutics in the areas of inflammation and infectious disease.
- Sirona’s chief scientific officer recently attended industry meetings in New York City. The meetings were very successful and have generated multiple potential partnerships. We will provide updates regarding these opportunities on the next shareholder letter. Although we have a number of significant partnering initiatives fully executed and under way, we are continuing to explore new partnership opportunities and currently have multiple ongoing conversations with large pharma and cosmetic companies around the world.
Our goal has always been for Sirona Biochem to become the global leader in the process of compound stabilization, which leads to unlimited applications in pharmaceuticals and cosmetics. The value of Sirona Biochem lies in its technology, and we intend to put our resources behind this. At the end of the day, our common goal is to create shareholder value, which is exactly what we work to accomplish every single day. Sirona is well positioned to take advantage of some of the major opportunities that are available to us, and we are working diligently to take our company to the next level.
I sincerely appreciate the past support of our shareholders and ask for your future support as we move forward.
Best regards,
Dr. Howard Verrico
Chief executive officer, chairman of the board
Sirona Biochem
- Published in Life Sciences