Vancouver, British Columbia – June 30, 2016 – Sirona Biochem Corp. (TSX-V: SBM) (Frankfurt: ZSB) (Xetra: ZSB) (the “Company”) today provided a business update.
Dear Shareholders,
I would like to provide an update on our progress.
As we enter Q3, our resources continue to be focused on completing a license agreement for our skin lightener SBM-TFC-1067 with a global cosmetic company. While we initially anticipated a deal by the end of Q2, these types of agreements take time and we appreciate your patience. We are very confident in our ability to secure a licensing deal for SBM-TFC-1067.
Skin Lightener SBM-TFC-1067
SBM-TFC-1067 continues to attract the interest of global cosmetic companies, a list which continues to grow. A number of these companies completed material transfer agreements allowing them to test the compound in their facilities. We successfully scaled-up and produced over 1 kg of compound. In parallel, we completed independent testing in a 3D melanocyte model that mimics human skin. The results showed a strong skin lightener at low dosing without signs of toxicity. As this model is used by our potential partners to assess compounds, the study was key to obtaining independent results and improving our negotiating position.
Anti-Aging and Regenerative Compounds
We advanced our anti-aging and regenerative-medicine project by adding several compounds to our library which now consists of 16 novel compounds. With our lead compounds, we were able to show a protective effect in human fibroblast studies under stress conditions. Several global corporations have expressed interest and have signed material transfer agreements. These companies have been provided material for testing.
SGLT2 Inhibitor SBM-TFC-039
Wanbang Biopharmaceuticals has moved into pre-IND (Investigational New Drug) studies with SBM-TFC-039 for type 2 diabetes in China. Upon completion, Wanbang will file the IND with the CFDA. A successful filing will result in a $500,000 USD milestone payment for Sirona. We continue to work with Wanbang and provide technical support for the ongoing studies.
The company continues to maintain a healthy balance sheet and recently generated $829,500 as a result of a non-brokered private placement.
Looking back, over the last 12 months, Sirona Biochem has completed the following:
• Advanced discussions for a licensing deal for SBM-TFC-1067.
• Completed testing in a 3-D melanocyte skin model with excellent results.
• Obtained a milestone payment of $300,000 USD from Wanbang Biopharmaceuticals.
• Advanced the Obagi skin-lightening project.
• Increased the anti-aging and cell preservation library of compounds.
• Entered into material transfer agreements with various global companies for testing of the anti-aging/cell preservation library.
• Launched programs for Keloid scar and acne therapies.
• Launched a red blood cell preservation program.
• Presented at multiple global conferences with a focus on cosmetic ingredients.
Thank you for your continued support. Management remains confident that 2016 will be transformational for Sirona Biochem.
Sincerely,
Dr. Howard Verrico, CEO
For more information regarding this announcement, please contact:
Christopher Hopton, CFO
Sirona Biochem Corp.
Phone: 1.604.282.6064
Email: chopton@sironabiochem.com