Vancouver, British Columbia – September 29, 2011 – Sirona Biochem Corp. (TSX-V: SBM) (the “Company”), a biotechnology company specializing in carbohydrate chemistry technology, provided a shareholder update today. The financials for the quarter ending July 31, 2011 can be found on the SEDAR website at www.sedar.com.
“Our acquisition of France-based TFChem earlier this year has given us new and exciting programs to pursue such as cosmetic agents and a cancer vaccine antigen,” said Dr. Howard Verrico, CEO of Sirona Biochem. “We are focused on developing and validating this newly-acquired proprietary platform technology and applying it to a diverse portfolio that offers attractive market potential and value,” he added.
Research & Development Update
Sirona Biochem’s lead product, a sodium glucose transporter (SGLT) inhibitor for Type 2 diabetes, recently achieved positive results. Preclinical studies of the Company’s SGLT inhibitor are ongoing and the Company expects to have efficacy, safety and toxicity results in the next few months. Results from those studies will be released once they are conclusive.
Sirona Biochem also recently announced the development of its Cancer Vaccine Antigen project. This project has become a high priority and the Company is accelerating development of this program by allocating more resources to it.
To enable partnership and commercial plans, Sirona Biochem is refining the depigmenting agent program this fall with its newly-assembled consortium partners. Studies of the Company’s biological inducers are also being conducted. The Company is aiming to provide conclusive results from these studies in the next few months. These studies, as well as the recent positive preclinical results, will help to further validate the Company’s proprietary chemistry platform and its ability to produce carbohydrate compounds with greater stability, selectivity, bioavailability and efficacy.
Post-acquisition update
Since the acquisition of TFChem, Sirona Biochem has been evaluating its resources and building its infrastructure with a goal to remain efficient and on target with R&D objectives. These efforts include sourcing competent contract research organizations with a proven track record to analyze the Company’s molecules, streamlining processes and implementing cost-effective and efficient technologies. On an ongoing basis, Sirona Biochem has been engaging with experts in the field and will be adding new consultants and advisors to advance its programs. The Company has reviewed its patent strategy with French intellectual property law firm Cabinet Regimbeau in Paris to ensure all necessary steps are being taken to protect its unique molecules. Sirona Biochem recognizes that securing patent protection for its research is essential to capitalize on the Company’s achievements.
New Programs
From very early on in Sirona Biochem’s acquisition efforts, the Company recognized the value of TFChem’s proprietary chemistry technology and its application opportunities. Of particular interest was the Cosmeceuticals program. Large market potential, lower development costs and shorter development timelines make this an attractive, lower risk program. Since acquiring TFChem, the Company has been engaging with experts in the field to understand how best to apply its technology and optimize development efforts. Bringing in experts, such as world-renowned dermatologist Dr. Stuart Maddin, helps to ensure Sirona Biochem is conducting the right research and targeting worthwhile markets. Two specific cosmeceutical programs the Company is developing are depigmenting agents and anti-aging compounds.
Another new program Sirona Biochem is pursuing is a cancer vaccine antigen, which is a project TFChem founder, Dr. Geraldine Deliencourt-Godefroy, has been developing for many years.
The Company’s proprietary technology continues to strengthen and the Sirona Biochem management team has been impressed with the scientific expertise of the TFChem chemists and the breakthroughs they have made in carbohydrate chemistry.
Partnership update
Sirona Biochem has been attending pharmaceutical conferences and meeting with pharmaceutical partners over the last few months and are planning for follow-up meetings after the results of its additional preclinical tests. The Company plans to complete preclinical studies for its SGLT inhibitor program and seek a partner for clinical and commercial development. Cosmetic, vaccine and biotechnology partners are also being evaluated for each respective program. In addition to research and development partners, Sirona Biochem recently sponsored the Canadian Diabetes Association. Given the shared vision of improving the lives of those living with diabetes, the partnership was beneficial for both parties.
About Sirona Biochem Corp.
Sirona Biochem is a biotechnology company developing diabetes and obesity therapeutics, cancer vaccine antigens, cosmeceuticals and biological ingredients. We are applying a proprietary chemistry technique to improve the pharmaceutical properties of our carbohydrate-based molecules. For more information 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.
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For more information regarding this press release, contact:
Julie Jang
Director, Communications
Sirona Biochem Corp.
Phone: 604.282.6065
Email: jjang@sironabiochem.com
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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.