Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) (OTC: SRBCF)
(“
Sirona” or the “
Company”)
provides the following update:
Dear shareholders,
We are pleased to provide an update on our
recent milestones and strategic decisions shaping Sirona Biochem’s
path forward.
AGM
Last week, during our Annual General Meeting
(AGM), we successfully gained another year of backing for our
management team. Although it's common for many shareholders to
abstain from voting, we're pleased to report that we've received
numerous messages from our shareholders expressing their support
for our ongoing corporate strategy.
Financing
We have closed our financing well below its
anticipated goal. The small cap marketplace in the Canadian market
is very challenged at this time. Our past supporting brokers do not
have the fund-raising capabilities of the past. Instead of dropping
the financing share price we are in discussion with investment
funds to assist with our financial needs. This includes funds based
in Europe, North America, and Asia, linking future investments to
our commercialization of GlycoProteMimTM.
The commercialization of GlycoProteMimTM offers
substantial potential for financial returns, benefits from
clinically validated technology, and has a relatively swift path to
generating revenue.
We persist in exploring non-dilutive funding
sources from France and Canada as our preferred financing option
whenever feasible.
Branding of GlycoProteMimTM (TFC-1326)
We have successfully selected the brand name for
our anti-aging product. We will soon be proceeding with the formal
trademark registration. The name will be made public closer to
launch. Our cosmetic branding expert, based in Paris, is currently
concentrating on developing brand messaging to establish this new
product line as a premium offering in the anti-aging market.
Preparation for Commercialization of
GlycoProteMimTM
We are on track for a commercial launch of our
first consumer products containing GlycoProteMimTM in Europe and
North America in early 2025 through our subsidiary, Sirona
Laboratories, with plans to expand to other international markets
afterward. Additionally, we've expanded our strategy to include the
development of a second GlycoProteMimTM-infused product. Our brand
and marketing team is convinced that broadening our product range
is essential for achieving the best market penetration and ensuring
consumer satisfaction.
An initial production batch of custom cosmetic
containers, tailor-made for our products, is currently being
manufactured by a premier French company. We have engaged a South
Korean specialist in product label design to create our labels.
Furthermore, a renowned Parisian facialist is crafting a specific
massage protocol for the application of our products.
Product Samples
The demand for product samples has arisen
earlier in the development phase than expected, prompting us to
adjust our plans to accommodate this interest. It's clear that
people are eager to physically interact with the product
themselves. At this point, our capability to provide samples is
limited to key potential stakeholders around the world who require
a hands-on experience with the product to build their investment
confidence.
Overall GlycoProteMimTM Strategy
Our strategy involves launching in Europe and
North America in early 2025, with a view to exploring licensing
opportunities in pivotal markets such as South Korea, Japan, and
China, where partnering is the favored approach for market entry.
We foresee a variety of commercialization paths. Possessing
established products significantly enhances our ability to achieve
this objective. Key contacts have been pinpointed, and we are in
the process of identifying additional ones.
Our strategy does not encompass any solitary
licensing agreement. Our patent application for GlycoProteMimTM
spans 54 countries, encompassing all major markets.
Pipeline
Sirona Biochem is currently honing its focus on
the cosmetic and therapeutic skincare sector, where we identify the
most significant commercial potential. Our pipeline includes a
variety of projects, some of which have been made public, while
others are kept under wraps due to competitive reasons and
intellectual property concerns. Our scientific team is continuously
at the forefront of innovation, discovering incredibly promising
opportunities.
TFC-1067 Global License Agreement
Allergan Aesthetics is actively progressing with
the integration of TFC-1067 into its product lineup. We will inform
our shareholders of any developments as soon as it is feasible. The
introduction of TFC-1067 into the market presents a significant
chance to enhance our company’s value and expand our growth
prospects. It's important for shareholders to recognize that this
is a global licensing agreement, which represents a considerably
greater value to Sirona compared to the prior supply agreement with
Rodan and Fields.
Summary
Navigating the financial challenges in this
market is complex, but we have strategies in place to address them.
While there are concerns among shareholders about dilution, our
plans carry substantial potential to benefit our shareholders
significantly. Although some level of dilution may occur, our goal
is to enhance value to a degree that more than validates our
approach. The continued support from our shareholders is crucial
for our collective success.
About Sirona Biochem Corp.
Sirona Biochem is a biotechnology company
focussing on innovative cosmetic and dermatology active ingredients
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
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.
For more information regarding this press
release, please contact:
Investor Enquiries:
Christopher HoptonChief Financial Officer
Phone: (604) 641-4466Email: info@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.
Forward Looking Statements
This news release includes certain statements
that may be deemed “forward-looking statements”. All statements in
this new release, other than statements of historical facts, that
address events or developments that the Company expects to occur,
are forward-looking statements. Forward-looking statements are
statements that are not historical facts and are generally, but not
always, identified by the words “expects”, “plans”, “anticipates”,
“believes”, “intends”, “estimates”, “projects”, “potential” and
similar expressions, or that events or conditions “will”, “would”,
“may”, “could” or “should” occur. Although the Company believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance and actual results may differ materially from
those in the forward-looking statements. Factors that could cause
the actual results to differ materially from those in
forward-looking statements include market prices, continued
availability of capital and financing, and general economic, market
or business conditions. Investors are cautioned that any such
statements are not guarantees of future performance and actual
results or developments may differ materially from those projected
in the forward-looking statements. Forward-looking statements are
based on the beliefs, estimates and opinions of the Company’s
management on the date the statements are made. Except as required
by applicable securities laws, the Company undertakes no obligation
to update these forward-looking statements in the event that
management's beliefs, estimates or opinions, or other factors,
should change.
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