Sirona Biochem Announces Positive Results of PK Study for Type 2 Diabetes
Vancouver, British Columbia – September 3, 2014 – Sirona Biochem Corp. (TSX-V: SBM.V FSE: ZSB) today announced that Wanbang Biopharmaceuticals has successfully completed another study in the pre-clinical validation of its anti-diabetic SGLT2 Inhibitor, SBM-TFC-039, for the treatment of Type 2 diabetes.
The pharmacokinetic (PK) study of SBM-TFC-039 confirms an excellent oral bioavailability of SBM-TFC-039. Bioavailability refers to the drug’s ability to be absorbed into the body. The results are in accordance with results of an earlier study conducted by Sirona Biochem. The drug was administered as a single dose in SD rats. The first milestone of the license agreement with Wanbang Biopharmaceuticals is expected after the next scheduled study, assessing toxicology in rats during a 14 day test. This will trigger a second payment to Sirona from Wanbang Biopharmaceuticals as part of the $9.5M in upfront and milestone payments.
“These results provide further evidence that we have an excellent compound for the treatment of Type 2 diabetes”, said Dr. Howard Verrico, CEO. “Good bioavailability of a drug equates to lower dosing. It’s a win for us in terms of the development of our SGLT2 Inhibitor.”
About Wanbang Biopharmaceuticals
Wanbang Biopharmaceuticals is the leading pharmaceutical company in China that specializes in research, production and marketing of medicines for diabetes, cardiovascular disease and endocrinology. Among domestic pharmaceutical companies, Wanbang Biopharmaceuticals is one of the largest manufacturers and marketers of a comprehensive portfolio of drugs for diabetes.
Wanbang Biopharmaceuticals is a subsidiary of Shanghai Pharmaceutical Group which is listed on the Shanghai Stock Exchange. Fosun Pharma, one of the major shareholders of Sinopharm Group, the largest drug distributor in China, is part of Fosun International, the leading non-state owned enterprise group in China which is listed on the Hong Kong Stock Exchange.
About Sirona Biochem Corp.
Sirona Biochem is a cosmetic ingredient and drug discovery company with a proprietary platform technology. Sirona specializes in stabilizing carbohydrate molecules with the goal of improving efficacy and safety. New compounds are patented for maximum revenue potential.
Sirona’s compounds are licensed to leading companies around the world in return for licensing fees, milestone fees and ongoing royalty payments. Sirona’s laboratory, TFChem, is located in France and is the recipient of multiple French national scientific awards and European Union and French government grants. For more information visit www.sironabiochem.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.
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.
For more information regarding this press release, contact:
Christopher Hopton
CFO
Sirona Biochem Corp.
Phone: 1.604.282.6064
Email: chopton@sironabiochem.com
- 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 Biochem Launches Global Awareness Campaign With Cousteau Ambassadors’ Video
VANCOUVER, BC, Aug 21, 2014 (Marketwired via COMTEX) — Sirona Biochem Corp. (SBM) (frankfurt:ZSB) launches global awareness campaign with ambassadors’ video produced by the team of Jean-Michel Cousteau and Fabien Cousteau to represent their support of the glycoprotein project.
“The time and effort put into this video illustrates just how dedicated the Cousteaus are to the relationship with Sirona Biochem,” said Howard Verrico, founder and CEO. “Having Jean-Michel and Fabien’s support for this project serves as a reminder of the immense potential value in these compounds.”
Jean-Michel Cousteau and Fabien Cousteau (son and grandson of Jacques Cousteau) are brand ambassadors for Sirona’s glycoprotein project. The project has also been generously supported by Bpifrance (the French Public Investment Bank) and the district of Haute Normandie with funding of CDN$1.2 million in the form of a no-interest loan.
The video can be viewed at the following link: http://youtu.be/s0PDhFOl6Ck
(with German subtitles: http://youtu.be/j5LDgIyzC3Y)
Sirona Biochem also announces attendance at the upcoming BIO Europe conference in Frankfurt Germany Nov 3-5 2014 with support from BIOTECanada and the Canadian Trade Commissioner Service, Global Opportunities for Associations (GOA) program.
About Sirona Biochem Corp.
Sirona Biochem is a biotechnology company developing diabetes therapeutics, skin depigmenting and anti-aging agents for cosmetic use, biological ingredients and cancer vaccine antigens. The company utilizes a proprietary chemistry technique to improve pharmaceutical properties of carbohydrate-based molecules. Sirona Biochem is the parent company of French-based biotechnology company, TFChem. For more information visit www.sironabiochem.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 licensee completes two SBM-TFC-039 studies
<p>SIRONA BIOCHEM ANNOUNCES SUCCESSFUL COMPLETION OF TWO FIRST LINE STUDIES BY WANBANG BIOPHARMACEUTICALS</p>
<p>Sirona Biochem Corp. has provided an update. Wanbang Biopharmaceuticals has completed two preclinical efficacy studies of the SGLT2 inhibitor SBM-TFC-039. The studies independently confirm that SBM-TFC-039 increased urinary glucose excretion and improved oral glucose tolerance in normal SD rats. The results were consistent with those previously completed by Sirona Biochem.</p>
<p>The next steps in the validation of SBM-TFC-039 will be the pharmacokinetic study and the 14-day toxicology repeated administration on normal SD rats. If further positive results are obtained, as expected, Wanbang will have completed the first milestone of its licence agreement with Sirona Biochem. This will trigger a second payment to Sirona from Wanbang Biopharmaceuticals, part of the $9.5-million in upfront and milestone payments.</p>
<p>According to a 2013 study published in the Journal of the American Medical Association the People’s Republic of China now has the greatest prevalence of diabetes. It is estimated that 11.6 per cent of the adult population or 114 million people are affected; this is the first time that a country has surpassed the United States, which has an estimated 11.3 per cent living with the disease.</p>
<p>It is also estimated that approximately half of all Chinese adults, a total of 493 million people, could be suffering from prediabetes, a preliminary stage in which the sugar metabolism is already disturbed, but diabetes is not yet present.</p>
<p>”Wanbang Biopharmaceuticals’ dedication to quickly advancing this project to clinical trials confirms the strength of Sirona’s partnership with China’s top-ranked diabetes pharmaceutical company. The value of this pharmaceutical to Sirona grows both within China, home of the world’s largest diabetic population and outside China to other potential pharmaceutical partners,” said Howard Verrico, chief executive officer of Sirona Biochem.</p>
<p>We seek Safe Harbor.</p>
<p><span id=”MainContent_NewsHeader”>2014-07-23 07:51 ET – News Release</span></p>
<p>Mr. Howard Verrico reports</p>
- 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
Sirona hires PRC Partners for consulting services
<p>SIRONA ANNOUNCES SHARES FOR SERVICES AGREEMENT</p>
<p>Sirona Biochem Corp. has entered into a business consulting agreement with PRC Partners Ltd. of Hong Kong for a six-month term commencing July 15, 2014. As compensation for the services to be provided, PRC will receive a total of 1,500,000 common shares of the Company, in tranches of 250,000 common shares each, on a monthly basis starting August 15, 2014. PRC will also receive stock options in the Company, under the Company’s stock option plan, entitling it to purchase 500,000 common shares at a price of $0.15 per share and 500,000 common shares at a price of $0.20 per share expiring 60 days after the Agreement is terminated. Services to be provided by PRC include consultation, advice, and the arrangement of strategic relationships with other companies and the acquisition of projects, access to capital markets in Europe, and similar activities designed to further the business and development of the Company.</p>
<p>The Agreement and all securities proposed to be issued thereunder are subject to the acceptance of the TSX Venture Exchange.</p>
<p>About PRC Partners</p>
<p>PRC Partners is a Hong Kong-based corporate development consulting firm owned Frank Haentjes. Mr. Haentjes is a native of Cologne, Germany, raised and educated in Brazil, Germany and the United States. He has been living and working in China for much of the last decade, successfully assisting Canadian public companies in tapping investment funds from State-owned Enterprises and high-net-worth individuals. PRC Partners has a self-professed focus on the discovery of undervalued and promising growth companies, and serves these companies by increasing visibility and accessing capital through an experienced network of investors. Due to the increasing demand from his investors, Mr. Haentjes has taken a strong interest in technology as well as in biotech/healthcare deals that are either public or about to go public. He has extensive relationships in Asia, Europe and the Middle East. He will be providing the services on behalf of PRC Partners.</p>
<p>We seek Safe Harbor.</p>
- Published in Life Sciences
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