Sirona Biochem Receives Funding From the National Research Council of Canada's Industrial Research Assistance Program
Published: Nov 05, 2010
VANCOUVER, BRITISH COLUMBIA--(Marketwire - November 04, 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 has signed a Contribution Agreement of up to CDN$79,499 from the National Research Council of Canada's Industrial Research Assistance Program (NRC-IRAP). In addition to the technical and business advisory services, the funding will be used to support Sirona Biochem's research and development of SGLT2 (sodium glucose transporters) inhibitors, a new class of drugs for diabetes and obesity.
Sirona Biochem is developing SGLT2 inhibitors. SGLT2s are responsible for glucose reabsorption from the kidneys into the bloodstream. This process contributes to elevated levels of glucose in a person with Type 2 diabetes. SGLT2s inhibitors reduce the excess glucose from entering the bloodstream by releasing the glucose into the urine and may help control Type2 diabetes. Sirona Biochem applies a proprietary chemistry method to stabilize these SGLT2 inhibitors, a carbohydrate-based molecule, which is typically difficult to develop.
Sirona Biochem has a library of novel compounds for the development of SGLT inhibitors. This second financial contribution received from IRAP will be used to conduct studies and determine efficacy, selectivity and pharmacokinetics properties for the development of SGLT inhibitors.
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.
Sirona Biochem Corp.