Sirona Subsidiary, Tfchem, Receives Final Loan Trance From French Public Investment Bank For Anti-Aging Project
Published: Sep 28, 2017
VANCOUVER, BC--(Marketwired - September 27, 2017) - Sirona Biochem Corp. (TSX VENTURE: SBM) (
Repayment of the loan will be made in installments, beginning in Q3 2018 with the majority being paid after 2020. The company expects to be well into substantial milestone and royalty payments before any repayment of the loan begins.
According to the latest report by Zion Market Research, the global anti-aging market is expected to reach USD 216.52 billion in 2021 and is anticipated to grow at a CAGR of 7.5% between 2016 and 2021.
"The final loan tranche will be used to further the studies for anti-aging activity and mechanism of action of the glycoprotein library compounds," reports Dr. Howard Verrico, CEO and Chairman of Sirona Biochem, "We would like to extend our gratitude to Bpifrance and the district of Haute Normandie."
About Sirona's Cell Preservation / Anti-Aging Project
TFChem has developed a library of novel glycopeptides with a unique ability to protect skin fibroblasts from severe stressors that arise from the natural aging process and the environment. Studies have shown that cells coated in these glycopeptides, even when exposed to oxidation, starvation and UV irradiation, maintain vitality under the stressors.
While the compounds have undergone several rounds of testing for activity, they require further assessment to determine a mechanism of action. The library is also being evaluated for effectiveness in preserving other cell types, expanding market opportunity. Potential commercial opportunities could include cell storage, transplant and healing.
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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