VANCOUVER, July 4, 2019 /CNW/ - Sirona Biochem
Corp. (TSX-V: SBM) (FSE: ZSB) ("Sirona") is pleased to
provide a corporate update from the Company's CEO, Dr. Howard Verrico, regarding its plans both near
and long term in the following Q&A format. The questions, for
the most part, are derived from inquiries received from
investors:
Why are the details limited on the clinical trial update from
Wanbang?
The pharmaceutical industry is highly competitive. Information
on clinical development programs can be used strategically by other
companies. Wanbang's team has shared all details of their program
with us and we are very pleased with the progress and dedication to
the program. In good faith, they have agreed to allow us to share
the update in a news release. This is not to their advantage and
reflects their understanding that our shareholders appreciate the
opportunity to be brought up to date. Rest assured, Wanbang is
moving efficiently with a comprehensive plan towards full CFDA
approval of Wanpagliflozin (TFC-039) to provide a leading treatment
option in China, the world's
largest population of diabetic patients1.
How significant is the clinical stage of development?
Many drug development programs never reach clinical trials. In
fact, many biotech companies are unsuccessful at progressing any
project to the clinical trial stage. Sirona has had two projects
reach clinical trials, both TFC-039 and TFC-1067. We believe we
will succeed in bringing more projects to this stage utilizing our
innovative platform technology. We are confident that full
commercialization will be completed on both projects. This is a
direct result of a highly predictable biological response to
changes made to molecules using our platform technology and
expertise.
How is Sirona's relationship with Wanbang?
Sirona has an excellent working relationship with Wanbang. We
have been working hard to grow this relationship. Mr. D. Billings,
our consultant in China, has made
many trips to meet with the management of Wanbang in recent months
which helps tremendously to continually improve our communications.
We are now better able to explore further exciting opportunities in
working together.
Who is Mr. D. Billings?
Mr. Billings, a Canadian, was introduced by PRC Partners and
became Sirona's consultant in China. He has 17 years of experience
representing Canadian companies in China and has established multiple successful
partnerships. He has the expertise to bridge cultural and business
practice differences and build strong successful partnerships.
Several months ago, Sirona was approached by a company to
test TFC-039 as a drug for treating diabetes in cats and dogs.
Also, what about the possibility of licensing TFC-039 beyond
China for the treatment of
diabetes in humans? Is Sirona able to further commercialize
TFC-039?
We are actively working on a partnership with a global
corporation that will be of great value to Sirona. Again, we are
restricted to what we are able to disclose at this time. We can say
that the probability of completing a definitive agreement is high.
This project involves TFC-039. We will release details as soon as
possible.
Will Sirona be able to complete a definitive agreement with
Rodan + Fields regarding TFC-1067?
I see no obstacles. The process is proceeding smoothly.
Will Sirona be establishing more partnerships for
TFC-1067?
Yes, multiple partnerships are anticipated. As we complete
commercialization of TFC-1067 and obtain the necessary regulatory
approvals, more companies will want to incorporate TFC-1067 into
their product lines. We are actively in communication with several
companies at this time. This will be an ongoing process as we are
working in a global market consisting of multiple territories and
sales channels.
What's next in new projects?
We still have work to do on our anti-aging, anti-wrinkle, and
keloid therapies. Our scientists also dedicate time to explore new
opportunities. Currently, there are four more that I find exciting.
To protect the IP prior to patent applications, we must keep these
projects confidential at this point in time but I will talk about
them as soon as appropriate.
Are further equity financings pending?
A strategic financing may occur to position specific investors,
but we are not in a rush. Fortunately, the current share price
allows much improved terms for Sirona. There is no equity financing
planned or available for the current pool of investors. Moreover,
many outstanding warrants are in the money, which is another source
of growth capital. Nevertheless, we are planning a non-deal
roadshow in the fall in North
America as well as Europe
to attract institutional investors.
Would Sirona consider listing on other senior stock
exchanges?
Yes. As our market cap grows and financial balance sheet
strengthens, listing Sirona on other international exchanges could
become a benefit to shareholders and the growth of the company. We
must do this from a position of strength. That time is
approaching.
Are you considering a change in share structure?
There is no roll-back planned or anticipated. I value our
shareholders and am not in favour of a roll-back that may erode
shareholder value. As a major shareholder, I am biased in this
regard. Listing on another senior exchange could be an exception
where the share structure may require a change. There will be
consideration to the possibility of turning Sirona into two
companies. Sirona could be divided into a therapeutic and a skin
care company to unlock further shareholder value and accelerate
overall growth.
Are there future Board changes anticipated?
As we grow as a company our Board may need change in the future.
Currently, I am very pleased with the support our current board
provides Sirona. Jason Tian's
acceptance to our Board of Directors was a tremendous addition of
much needed talent to assist Sirona in new Asian markets. Over time
additional board members will be needed and we are continually
exploring strategic options.
When will you implement a Shareholders Rights Plan ("Poison
Pill")?
Legal counsel for Sirona is currently working on putting a
Shareholders Rights Plan in place. We have made it a high priority
to protect our shareholders.
Shareholders appreciate the constant flow of news for the
last couple of months, but will this continue?
There are many exciting things happening in the company, so yes,
I will make a best effort to maintain frequent communications to
keep our investors informed of our progress.
Thanks to the unprecedented support of our shareholders, we have
been able to greatly improve our financial balance sheet and can
drive growth. We will also be able to grow through partnerships and
collaborations. 2019 is shaping up to be a pivotal year for Sirona.
We envision 2020 and beyond to be even better.
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 IDF Diabetes Atlas Eighth Edition
2017 https://www.sironabiochem.com/wp-content/uploads/2019/06/SBM-FS-QTR-ENDED-Q2-2019.pdf
SOURCE Sirona Biochem Corp.