VANCOUVER, BC, Feb. 24, 2021 /CNW/ - Sirona Biochem Corp. (TSXV:
SBM) (FSE: ZSB) (OTC: SRBCF) ("Sirona") is pleased to
provide the following update to shareholders.
We continue to make substantial progress with core
deliverables.
TFC-1067
Rodan + Fields (R+F) is completing the final stages in
preparation to launch one of their newest skin care products
incorporating TFC-1067. The dates are tightly guarded at this time
and shareholders will be updated as soon as we are able to do so.
We can report that everything is still progressing on schedule. As
this will be our first project to reach commercial sales, we are
looking forward to a successful launch.
Manufacturing of commercial quality TFC-1067 is ongoing in both
China and France and shipments have been completed from
both countries to the USA. As is
the case with most new manufacturing, we continue to invest in
optimizing the process. The development of an optimal production is
an initial investment and a necessary condition to ensure we can
sustainably serve a growing demand.
Our second clinical trial for TFC-1067, utilizing a higher dose,
has been successfully completed and preliminary results have been
received from Dermscan. We expect the final report within 4 weeks
at which time we will review the results with our pharmaceutical
partner (see news Oct 2020). We
anticipate being able to release a portion of the results that are
independent of our partner after a period of due diligence.
Several multinational companies have approached Sirona with
interest in TFC-1067. Once the first product is available for
purchase and we can release the latest data, we anticipate that
number to grow. The data package now contains many in vitro
studies, clinical safety data, two clinical trials and
manufacturing. Additionally, we have a partner who independently
tested the product providing further support for its
performance.
After completing our due diligence, we made the decision not to
pursue an agreement with HuaxiPharm. They have experienced
internal challenges and delays and we do not feel their goals align
with Sirona at this time. We have been working on developing a
relationship with another company that can manage all aspects of
commercialization of TFC-1067 in China. Our board and senior team are in
regular discussion with this company on moving forward with an
agreement. Extensive due diligence has already occurred.
TFC-039
TFC-039 for a type 2 diabetes pharmaceutical has completed
another major phase in development and material information is
pending.
TFC-039 for animal health continues to progress. We are in
discussions with two international companies on this project and as
such it has taken more time than expected to coordinate. Sirona and
its consultants have structured and negotiated this unique
partnership. We have closed binding terms on one side of this deal
with the partner and we anticipate the other partner closing soon.
Until such time that both partners have agreed to all terms, the
details must remain confidential.
In addition, the team at TFChem are currently investigating
further indications for TFC-039.
Anti-Aging
Our team has recently completed further studies for our
anti-aging project to analyze our library of compounds and
determine a lead. While we had previously done studies on some of
these compounds, the lab was successful in developing further
compounds for the library which we believe may have additional
potential. These compounds must be patented and to do so, it is a
requirement to fulfill a set of in-vitro studies. The studies
are now complete, and we can begin the next steps of preparing a
lead for further investigative studies in safety prior to the
clinical trial. The project was introduced to several companies at
BIO JPM (https://www.bio.org/events/bio-partnering-jpm) and we are
developing the information package to share with them. We also
anticipate further discussions with our current partners about this
project.
Antiviral
With recent developments in other projects as well as the lab's
dedication to scale-up and managing the clinical trials of this
project, the antiviral project remains less of a priority at the
moment, but very much on the agenda for 2021 and 2022. We will
update as progress is made.
Sirona continues to thrive in a world which has become
increasingly virtual and has been conducting business daily on four
continents. With a well-seasoned and experienced team, including
multiple locally based consultants, travel has become unnecessary
to maintain our progress. We will continue to support and grow our
pipeline technology developed by our dedicated team of TFChem
scientists based in Rouen, France.
We also continue to focus our efforts to create significant
value for our shareholders. We realize that some investors had
hoped for more progress. However, once again, we are moving forward
and we are very confident that we will reach further significant
milestones and continue to develop Sirona as a commercially
successful company.
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, please visit
www.sironabiochem.com.
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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.
SOURCE Sirona Biochem Corp.