7/23/2014 8:43:05 AM
VANCOUVER, BC--(Marketwired - July 23, 2014) - Sirona Biochem Corp. (TSX VENTURE: SBM)(OTCQX: SRBCF)(FRANKFURT: ZSB) (the "Company") today announced that Wanbang Biopharmaceuticals has completed two pre-clinical efficacy studies of its SGLT2 inhibitor SBM-TFC-039. The studies independently confirm that SBM-TFC-039 increased Urinary Glucose Excretion and improved Oral Glucose Tolerance in normal SD rats. The results were consistent with those previously completed by Sirona Biochem.
The next steps in the validation of SBM-TFC-039 will be the Pharmacokinetic study and the 14 day toxicology repeated administration on normal SD rats. If further positive results are obtained, as expected, Wanbang will have completed the first milestone of its license agreement with Sirona Biochem. This will trigger a second payment to Sirona from Wanbang Biopharmaceuticals, part of the $9.5M in upfront and milestone payments.
According to a 2013 study* published in The Journal of the American Medical Association the People's Republic of China now has the greatest prevalence of diabetes. It is estimated that 11.6% of the adult population or 114 million people are affected; this is the first time that a country has surpassed the United States, which has an estimated 11.3% living with the disease.
It is also estimated that approximately half of all Chinese adults, a total of 493 million people, could be suffering from pre-diabetes, a preliminary stage in which the sugar metabolism is already disturbed, but diabetes is not yet present.
"Wanbang Biopharmaceuticals dedication to quickly advancing this project to clinical trials confirms the strength of Sirona's partnership with China's top ranked diabetes pharmaceutical company. The value of this pharmaceutical to Sirona grows both within China, home of the world's largest Diabetic population and outside China to other potential pharmaceutical partners," said Howard Verrico, Chief Executive Officer of Sirona Biochem.
About Wanbang Biopharmaceuticals
Wanbang Biopharmaceuticals is a leading pharmaceutical company in the People's Republic of 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
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.
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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