VANCOUVER, Feb. 6, 2019 /CNW/ - Sirona Biochem Corp.
(TSX-V: SBM) (FSE: ZSB) (the "Company") announces that it
has signed a Right of First Refusal (ROFR) agreement with an
industry-leading, skincare company to license Sirona's skin
lightener, TFC-1067. The company is a leader in North American
skincare sales with rapidly growing international sales
channels.
The skincare company has completed extensive due diligence on
TFC-1067. This includes both the data package provided by Sirona as
well as their independent research and analysis on the compound.
This work is contributing to the goal of an international
commercial launch of what we are proving will be both a safe and
effective skin lightener in an industry where other compounds
typically suffer from either poor efficacy or toxicity issues.
The ROFR agreement, which includes all territories except
China, states that upon receipt of
the clinical trial report from dermatologist Dr. Zoe Draelos, the company will have 30 days to
review the data. At that time, the company will notify Sirona of
their intent to conclude a licensing agreement. At their request,
the company's identity and the detailed agreement will remain
confidential until a definitive agreement is executed.
Sirona has received an up-front payment for the acceptance of
the ROFR.
"We are very pleased to have established this arrangement. A
great deal of time and resources have been invested by both Sirona
and the skincare company working on the advancement of TFC-1067
with the goal of an international commercial launch", reports Dr.
Howard Verrico, CEO of Sirona. "In
order to protect the company and justify their ongoing efforts, the
ROFR was a necessary step in advance of our clinical trial results,
as these results are also greatly anticipated by other major
skincare companies. This is an exciting time for Sirona's team here
in Canada as well as our
scientific team in France and
marks another milestone towards commercially launching a disruptive
new skin lightening ingredient in this 20
Billion USD global skin lightening market1."
About Dr. Zoe
Draelos
Dr. Zoe Draelos is a clinical and
research dermatologist based in High
Point, North Carolina. Dr. Draelos, supported by a team of
highly skilled scientists, is the head of the Dermatology
Consulting Services (DCS) research organization, aimed at
facilitating research, consulting and communication services to the
pharmaceutical and cosmetic industries. The clinical trial center
runs assessments on different skin, hair and nail conditions, such
as acne, psoriasis, hair loss and aging.
With over thirty years of experience, Dr. Draelos has been
recognized many times over the years for her cutting-edge research,
including the lifetime achievement award from Health Beauty America
and the Society of Cosmetic Chemists. A pioneer in the field of
cosmetic dermatology, Dr. Draelos continues to work with lead
cosmetic and pharmaceutical companies as well as furthering her own
research in the dermatology space.
Dr. Draelos was a past vice-president of the American Academy of
Dermatology and is a Consulting Professor of Dermatology at
Duke University. She has authored over
300 articles, 8 books and has shared her expertise across different
media.
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.
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.
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 except as required by law.
1
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Fact.MR (July 2018)
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SOURCE Sirona Biochem Corp.