Sirona Biochem (SBM:tsxv) receives approval to trade on Xetra
SIRONA BIOCHEM APPOINTS GERMAN PRIVATE BANK HAUCK & AUFHAUSER AS DESIGNATED SPONSOR FOR XETRA(R)
Sirona Biochem Corp.’s (SBM:tsxv) shares have been accepted for continuous trading on the German electronic trading platform Xetra under the ticker symbol ZSB.DE. The International Security Identification Number (ISIN) is CA82967M1005.
The electronic trading system Xetratrademarkis utilized to trade approximately 300,000 international instruments. Xetratrademarkhas a market share of over 90 percent in equity trading and is one of the fastest trading systems in the world with a round-trip-time at only two milliseconds. Financial institutions, securities trading houses and brokers can participate in Xetratrademark trading. Xetratrademark operates independently of the trader’s location, permitting international participation. In fact, more than 130 participants from European countries outside Germany trade on Xetratrademark.
Sirona Biochem has appointed Hauck & Aufhauser Privatbankiers KGaA (H&A) as its designated sponsor on Xetratrademark. The designated sponsor will work to facilitate higher liquidity in stock trading of Sirona common shares by maintaining a constant quotation volume (minimum trade volume) to ensure tradability is guaranteed — even in highly volatile market periods.
Dr. Howard Verrico, CEO and Chairman of Sirona Biochem, stated, “The Xetratrademark listing marks a further step in Sirona’s commitment to its shareholders to enhance the liquidity of the Company’s common shares and is one of many initiatives we are taking to further increase market awareness. A generally visible valuation discount due to limited liquidity will be reduced and therefore should generate an increased interest of institutional investors. Several potential European investors have confirmed that a continuous Xetratrademark listing will make it easier for them to invest in Sirona. We are proud that, from our point of view, the best Xetratrademark specialist team in Germany has chosen Sirona as a new client.”About Hauck & Aufhauser Privatbankiers KGaA
Hauck & Aufhauser Privatbankiers is one of the few independent private banks in Germany and can look back on over 219 years of tradition. The bank resulted from the 1998 merger of two highly traditional private banks: Georg Hauck & Sohn Bankiers, founded in Frankfurt am Main in 1796, and Bankhaus H. Aufhauser, which opened its doors in Munich in 1870.
From its locations in Frankfurt am Main, Munich, Hamburg, Dusseldorf and Cologne, the bank focuses on providing comprehensive advisory services and administering the assets of its private, corporate and institutional clients. This includes asset management for institutional investors, close cooperation with independent asset managers and both the concept and management of private label funds.
The partners of the bank consist of the personally liable partner, Jochen Lucht, and the partners, Michael O. Bentlage and Stephan Rupprecht. All of the bank’s capital is in the hands of private investors. Hauck & Aufhauser considers itself a private bank that combines modernity with a strong sense of tradition. The focus of its business activities is on providing comprehensive and personalized advisory services, which form the basis for developing customized solutions. For more information visit: www.hauck-aufhaeuser.de.
About Sirona Biochem
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.
- Published in Blog, Business, Life Sciences
Sirona Biochem CEO Update: to complete licensing deal by year-end
Sirona Biochem CEO Update: Significant Interest From Top Cosmetic and Pharmaceutical Companies for Lead Compounds
Sirona Biochem Corp. (SBM: TSXV) (ZSB: FRANKFURT) today provided a business update.
Dear Shareholders,
I would like to provide an update on our progress and to communicate the corporate strategic priorities that will deliver value to our shareholders in the near and long term.
Recently we announced the development of the safest, most effective skin lightener in the world, with SBM-TFC-1067. Our main focus is to license this asset to a major corporation with a global commercial and R&D infrastructure in Japan and Asia-Pacific. These regions represent the vast majority of the $20 billion skin lightening market.
SBM-TFC-1067 has attracted significant interest up to the level of material transfer agreements from nine of the top cosmetic and pharmaceutical companies that dominate the skin care market. The growing problem with current treatments is that they are either hydroquinone based, or release hydroquinone. Hydroquinone has known safety risks associated with its use, and there is evidence that it may be a potential carcinogen. It has been banned in Japan, the European Union, Australia, Korea, and also found on Canada’s toxic substances list.
Sirona has developed a solution for the problem, since there is zero hydroquinone released with SBM-TFC-1067. A major corporation could establish a large share of the skin lightening market through a licensing agreement with Sirona. Furthermore, this asset does not directly compete with SBM-TFC-849, which has been licensed to Valeant/Obagi, with a focus on the physician-dispensed channel in the US.
Our anti-aging and regenerative medicine lead candidate, SBM-TFC-837, has delivered breakthrough scientific results demonstrating significant protection in fibroblasts against the stressed conditions of nutrient deprivation, UV irradiation and most recently, oxidative stress. There is ongoing development of this asset to further characterize the multiple mechanisms by which this glycoprotein exerts its positive effects. There are eight major corporations that have expressed interest in this asset and, most importantly, we have obtained the commitment from a major corporation to execute a material transfer agreement to test our compound in their own facility.
The anti-inflammatory project is undergoing compound optimization to ensure maximum commercial viability. In 2016, the project will be transferred to our partner, Bloom Burton, to be further developed as a pharmaceutical.
For our ongoing collaborations, we continue to provide tech transfer consultations to both Valeant/Obagi and Fosun/Wanbang Biopharmaceuticals as they continue the development of SBM-TFC-849 for skin lightening in the physician dispensed channel in the US and SBM-TFC-039 for type 2 diabetes in China.
The company continues to maintain a healthy balance sheet despite being over a year since the last private placement. We recently generated an additional $400,000 as a result of shareholders exercising approximately 2.8 million warrants and our investor base was expanded through a successful European road show.
Moving forward, we anticipate at least one successful licensing agreement by the end of the year, which would be structured to include upfront, milestone and approval payments at each stage of clinical testing, scale-up and formulation, followed by a royalty stream.
In the near term, we will be presenting and participating at BIO International in Philadelphia, attending the World Congress of Dermatology in Vancouver, attending Cosmetics 360 in Paris and BIO Europe in Munich.
Looking back, over the last 6 months, Sirona Biochem has completed the following:
- Tests completed on our third skin lightener and creation of a comprehensive non-confidential slide deck which is being actively reviewed by leading global pharma organizations.
- Advanced the anti-aging and cell preservation projects into cell studies, which are also being reviewed by global pharma organizations.
- Entered into several partnering discussions with leading cosmetic and pharmaceutical companies for testing of both the skin lightener and anti-aging compound.
- Presented at 5 pharma/biotech conferences, increasing the awareness of the assets within our pipeline.
- Secured funding from the French organization BPI and region Haute Normandie for the anti-aging project.
We remain committed to our goal of becoming a global leader in commercializing carbohydrate chemistry by providing leading cosmetic and pharmaceutical companies with innovative products.
With your continued support and our ongoing efforts, together we can realize this goal.
Sincerely,
Dr. Howard Verrico, CEO
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.
Corporate Presentation
- Published in Blog, Medical Marijuana
Sirona’s Partner Completes SBM-TFC-039 Toxicology Test
Positive Preclinical Toxicology Results for its SGLT2 Inhibitor Trigger Milestone Payment from Wanbang Biopharmaceuticals
Sirona Biochem Corp. (TSX VENTURE: SBM) today announced that Wanbang Biopharmaceuticals has successfully completed the toxicology study in the pre-clinical validation of its anti-diabetic SGLT2 Inhibitor, SBM-TFC-039, for the treatment of Type 2 diabetes.
In the study, SBM-TFC-039 was orally administered to Sprague Dawley (SD) rats for 14 days to evaluate safety and simultaneously observe toxicokinetics. Dosing of SBM-TFC-039 was either 0, 100, 300 or 800 milligrams per kilogram per day (mg/kg/day) as well as 300 mg/kg/day of the reference drug Canagliflozin.
The results of the study demonstrated that the maximum tolerated dose (MTD) of SBM-TFC-039 was greater than 800 mg/kg/day, which was significantly greater than the 300 mg/kg/day of the Canagliflozin reference. There was no mortality in the groups treated with SBM-TFC-039 and the histopathology showed no visual abnormalities.
The reference drug Canagliflozin is Johnson and Johnson’s SGLT2 inhibitor for type 2 diabetes. It was the first SGLT2 inhibitor launched and it has been on the market in many countries including the United States since 2013. Sales in 2013 were $150 million and in 2014 were $622 million. Sales forecasts for this year are $1 billion.
The completion of this test will trigger a milestone payment to Sirona from Wanbang Biopharmaceuticals as part of the $9.5M in upfront and milestone payments.
“The results of the toxicology study are very encouraging. They provide the preclinical validation to proceed to second line testing which comprises of additional safety and tolerability testing with pharmacokinetics. This is the last step required before moving towards investigational new drug (IND) status in humans”, said Attila Hajdu, Chief Business Development Officer of Sirona Biochem.
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 please visit www.sironabiochem.com
- Published in Blog, Life Sciences
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
Skin Care and Cosmetics Industries: Asia/Pacific Locked in sight.
The Skin Care Industry is an ever-improving, competitive and very technological environment ruled by well-established giants such as Avon, L’Oreal andProcter & Gamble’s Olay. They are not, however the only players around. There is always room for technology-focused companies to improve existing products and introduce ground-breaking innovations to the market; in fact this is an industry that attracts brilliant minds, as pointed out by Sabine Louët.
Market opportunity? Trend?
The U.S. represents $54.89 Billion in sales, but it is not considered the fastest growing market, or the biggest. Brandon Gaille presents a visual report titled 26 Cosmetic Industry Statistics and Trend, in which Asia/Pacific holds the 1st spot for “Top regions in global beauty sales” while China holds the 2nd spot for “Growing prestige beauty markets.” Gaille also mentions how active the industry is, in 2011 there were 35 strategic acquisitions in the beauty industry, 13 of them from the Skin Care Industry. It is not surprising to see large companies buying their way into these attractive and growing eastern markets. These industries seem to be able to survive even the worst of crisis.
But why have the Skin Care and Cosmetic industries carried on practically unscathed after the latest Global Economic crisis? By 2011 in the U.S., sales on “Total Beauty” products reached $9.5 Billion, a growth of over 11{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} from 2010. This may be the direct cause of the “Emotional Attachment” experienced by the users. In Gaille’s report, it is stated that 82{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of surveyed women believe that wearing make-up boosts their self-confidence, while 86{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of women find that wearing make-up improves their image. This result represent a mentality shared by most consumes, and it is reflected on the numbers: on average, women spend $144 a year on beauty products. In Brazil, consumers spend $240 a year on the same products, while in Britain, a woman will spend around $13,000 on similar products in her lifetime.
But as discussed above, Asia/Pacific has the fastest growing market for these products, and many believe this is only the beginning. Heng Shao is only one of the many analysts to cover the Chinese “Second Generation Rich” phenomena. In an article for Forbes, she gives an example of an average Chinese over-seas student that talks about the ‘new purchasing power’ of their generation. The numbers are considerable. So what other trends should we be monitoring?
Other Trends
TechNavio (a leading technology research and advisory company) analyzed a report from Market and Research’s “Global Skin Care Market 2010 – 2014” and one of the key findings reported was that there is a “Demand for whitening products globally.” This comes to no surprise as this particular trend continues its steady growth in popularity and acceptance throughout the eastern hemisphere. As mentioned by Andrew McDougall, “Skin lightening has long been a trend in Asia and is set to continue to boost the global market in the next five years, according to Global Industry Analysts.” The report also mentions how this specific market alone could reach an estimated value of $19.8 Billion by 2018. This trend is cultural and social, fueled by the idea that lighter skin represents beauty and wealth. The images of western models are synonyms of “beauty,” and this idea encourages young consumers to look for products that can help them achieve the “perfect look.” This trend can be seen no only in China, but in India and other Asian countries as well.
Ecological responsibility seems to be a growing factor in the Chinese/Asian consumer’s mind. A study conducted by Dr. Chan in 2001 revealed that the average Chinese consumer has positive feelings for Eco-friendly products and organization, scoring on average 5.28 in a 1 – 7 point base system (1 being negative and 7 being positive). Their actions however show that they only actively purchase green products when they can, scoring 2.04 on frequency and 1.89 on amount of money spent on these green products. The current situation is likely to change, since environmental issues are becoming a pressing matter in the eyes of both the Chinese government and the world. An article by Beina Xu for the Council on Foreign Relations shows how both the Chinese public and their government have started moving towards more environmentally friendly methods and industries. This is mentality is sure to spread and become a cultural characteristic of not only the Chinese people, but of the world.
- Published in Blog
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