VANCOUVER, BRITISH COLUMBIA--(Marketwire - November 29, 2010) - Sirona Biochem Corp. (TSX VENTURE: SBM) (the "Company"), a biotechnology company specializing in carbohydrate-based molecules, including therapeutics for diabetes and obesity, cosmeceuticals and biological ingredients, announced today that it has received funding from Going Global Innovation. Sirona Biochem received funding for expenses related to creating a collaboration with France-based biotechnology company TFChem. Sirona Biochem has signed a preliminary binding letter of intent to acquire TFChem.
Going Global Innovation is the innovation, science and technology pillar of the Global Commerce Support Program (GCSP) for Foreign Affairs and International Trade Canada. The objectives of Going Global are to promote and enhance Canada's international innovation efforts by supporting Canadian companies and/or researchers in pursuing international research and development collaborative opportunities through the development of partnerships with key players in other countries and economies.
About Sirona Biochem Corp.
Sirona Biochem is a biotechnology company developing diabetes and obesity therapeutics, anti-aging cosmetic ingredients and biological ingredients. Our proprietary chemistry expertise is being applied towards the development of these carbohydrate-based programs. Our aim is to improve the commercial value of carbohydrate-based molecules by improving their pharmaceutical qualities. In August 2010, Sirona Biochem announced it had signed a binding preliminary agreement to acquire France-based TFChem. For more information, visit www.sironabiochem.com.
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.