CORRECTION -- Sirona Biochem Corporate Update January 2024
VANCOUVER, British Columbia, Jan. 24, 2024 (GLOBE NEWSWIRE) -- In a release issued under the same headline earlier today by Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) (OTC: SRBCF), please note that in the 8th paragraph of the letter, the company plans to launch its first product early in the 1st quarter of 2025, not the 1st quarter of 2024 as previously stated. The corrected release follows:
Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) (OTC: SRBCF) (“Sirona”) provides the following update:
Dear shareholders,
We are pleased to provide an update on our recent milestones and strategic decisions shaping Sirona Biochem's path forward.
Trademark of TFC-1326 as GlycoProteMim
We recently trademarked TFC-1326 as GlycoProteMimTM. This branding decision aims to distinguish our anti-aging active ingredient in a competitive market by giving it an easily recognizable identity, while also enhancing its marketability and positioning it as a sought-after solution in the beauty industry. With a diverse array of options for consumers to address visible signs of aging, our brand aims to be one that people can be educated about, understanding its benefits and easily identifying it in the marketplace.
Establishment of Sirona Laboratories
We are excited to introduce Sirona LaboratoriesTM, a newly established entity dedicated to commercializing GlycoProteMim. This decision is rooted in our commitment to expedite the commercialization process and provide a streamlined avenue for market penetration.
Sirona Biochem will maintain majority ownership in the subsidiary. This will ensure a more streamlined and efficient commercialization process by eliminating the common delays associated with external partnerships. We are poised to bring this innovative skincare solution to market in the shortest time possible.
Ultimately, the creation of Sirona Laboratories stands as a strategic move that directly benefits our stakeholders. It not only safeguards shareholder interests but also positions GlycoProteMim as a valuable asset within a separate entity, presenting potential avenues for capitalization on its technology while preserving the integrity of Sirona Biochem.
In the aesthetic space brand acquisitions at high valuations are common and novel technology optimally capitalized when part of an established brand. Beauty brand M&A is predicted to be a growing market trend.
Preparation for commercialization of GlycoProteMim
Final process development for the manufacturing of GlycoProteMim by Wuxi AppTec has been completed and they are ready to produce multi-kilogram orders upon request. Work is well underway on multiple other fronts necessary to produce a high quality consumer product. Further updates will be made near term regarding the team of experts we are assembling for this task.
It is our intention to launch our first consumer product containing GlycoProteMim in both Europe and North America through our subsidiary Sirona Laboratories, then expanding to other markets globally. With the necessary funding, we have set out a plan to launch our first product early in the 1st quarter of 2025. The fundamental science is clinically proven, and safety established so the work needed is mainly to satisfy technical requirements of a new product and re-establish its effectiveness necessary to allow appropriate product claims.
TFC-1067 – Global Licensing Agreement with Allergan Aesthetics
Allergan continues to work toward integration of TFC-1067 into its pipeline. Once permissible, we will update our shareholders accordingly. Sirona’s management remains in regular communication with Allergan Anesthetic’s team.
Antiviral Library, Diabetes and other new R&D projects
TFChem's scientists at Sirona are actively involved in progressing the antiviral and SGLT 2 diabetic project. Despite this ongoing effort, these projects are not currently the top priority. The primary focus of the team is directed towards pioneering new developments within the aesthetic space. It's worth noting that certain aspects of their work are kept confidential until they reach a stage where intellectual property (IP) can be securely established.
Making Sirona Laboratories a Market Success
To materialize the success of GlycoProteMim, we will be securing strategic funding from private equity funds and investors. This infusion of substantial upfront capital is earmarked for crucial aspects such as inventory, retail infrastructure, and impactful marketing efforts, which will all contribute to a robust and successful product launch.
Envisioning beyond a single product, Sirona Biochem sees a future of diversified offerings with multiple products utilizing GlycoProteMim. Preserving shareholder value is a core principle in our strategy. By avoiding significant dilution and control issues, we ensure that our shareholders enjoy a substantial portion of the revenue stream generated by GlycoProteMim.
Other Profitable Markets
Beyond GlycoProteMim, we can continue to advance projects in areas such as Cellulite, Wound care, and Keloid treatments, underscoring our commitment to comprehensive skincare solutions. Sirona Laboratories is poised to bring to market not only GlycoProteMim but also new cosmeceuticals developed by TFChem. This collaboration enhances our ability to introduce a diverse and wide range of innovative skincare solutions.
By pursuing a quicker route to profitability, we reduce reliance on recurrent financing, ensuring stability and a sustainable growth trajectory for Sirona Biochem and its subsidiaries. Sirona Biochem's stable financial source paves the way for bringing numerous backlogged ideas from our scientific team into commercial reality. This proactive approach to innovation ensures that our pipeline remains dynamic and responsive to emerging skincare needs.
About Sirona Biochem Corp.
Sirona Biochem is a cosmetic ingredient and drug discovery company with 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 an hour north of Paris, France, and is the recipient of multiple French national scientific awards and European Union and French government grants. For more information, please visit .
For more information regarding this press release, please contact:
Investor Enquiries:
Email:
Christopher Hopton, CFO, 778-908-4734
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.
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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.
