VANCOUVER--(Marketwire - August 13, 2009) -
Sirona Biochem Corp. (TSX-V:
SBM), an emerging
biotech company focused on diabetes and obesity drug development, announced
today that it has received a financial contribution of up to $70,000 from
the National Research Council of Canada Industrial Research Assistance
Program (NRC-IRAP).
In addition, Sirona Biochem Corp. will also receive both technical and
business oriented advisory services provided by NRC-IRAP.
Sirona Biochem CEO Dr. Howard Verrico said, "This financial contribution
will certainly help us progress our drug development here in British
Columbia where we are partnered with a world class testing facility
SignalChem. The contribution is to be spent in the program's current fiscal
year and we will be applying for substantial additional funding in the next
one.
"Contributions such as these make a very real difference for small biotech
companies, particularly in the present climate of fiscal restraint and
economic difficulties. We are very grateful indeed for this support from
the Federal Government.
"Importantly, this support also shows evidence to shareholders, investors
and potential investors alike that a credible institution has done a fairly
high degree of independent review of our business model and drug
development strategy," concluded Dr. Verrico.
NRC-IRAP works with small- and medium-sized Canadian firms, providing
expertise and advice as well as potential funding in developing their
innovative ideas. Financial assistance for this project is a direct result
of the Government of Canada's Economic Action Plan outlined in Budget 2009.
Sirona Biochem's website is at http://www.sironabiochem.com, where we
feature the most recent information about the company and its activities.
Alternatively, investors are able to e-mail all questions and
correspondence to info@sironabiochem.com where they can also request to be
added to the investor e-mail list to receive all future press releases and
updates or call John Dougherty, Corporate Development at 604-641-4466.
About Sirona Biochem
Sirona Biochem Corp. (TSX-V: SBM) is an emerging biotech company dedicated
to the discovery and development of novel drug compounds. The current
focus is on treatments for Type II diabetes and obesity. Sirona has
entered into a license agreement with TFChem S.A.R.L., a drug discovery
company based in Rouen, France. TFChem licenses its technology of
fluorinated carbohydrate mimics: GlycoMim®, and products in development
to biotech companies. The license agreement with TFChem provides for
research and development of new compounds known as SGLT Inhibitors. SGLT
inhibitors are a new and exciting class of compounds that have great
promise and potential to treat both diabetes and obesity.
www.sironabiochem.com.
Mark Senner
President and Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
