Vancouver, British Columbia – December 2, 2014 – Sirona Biochem Corp. (TSX-V: SBM / FSE: ZSB) announces that its subsidiary TFChem has been awarded the 6th Haute-Normandie Innovation Trophy from SEINARI – the Region Haute-Normandie innovation agency. TFChem founder, and Sirona’s Chief Scientific Officer, Dr. Géraldine Deliencourt-Godefroy, accepted the award at a ceremony held November 27th in Rouen, France.
The Company was awarded for the development and recent partnering success of an SGLT2 Inhibitor, which will be moved through clinical trials for the treatment of type 2 diabetes. The compound was developed by TFChem through the use of our novel platform technology of fluorination chemistry of carbohydrate based molecules. Parent company, Sirona Biochem, then licensed this successful innovation to Wanbang Biopharmaceuticals for the exclusive commercialization rights in China. Wanbang, as the largest diabetes specialty company in China, will continue to advance the asset through clinical trials to commercialization. This important partnership will build the foundation for expansion of the licensing agreement for commercialization rights in the rest of world, including the United States.
“It is always an honor to be recognized for the outstanding talent of our chemists as well as the work we have done partnering the diabetes compound”, said Dr. Howard Verrico, CEO of Sirona Biochem. “Everyone in the company has made a tireless commitment to move our products through the pipeline and the acknowledgement of these efforts is greatly appreciated. The partnership with Wanbang Biopharmaceuticals gives us an advantage over others on the barriers to entry in China. Wanbang will know how to navigate the pathways to market and already has the trust of Chinese consumers.”
China now has the largest diabetic population in the world and according to the World Health Organization (WHO), approximately 114 million Chinese people are suffering from diabetes. WHO experts project that diabetes will be the 7th leading cause of death in 2030 and China is set to remain a critical market for the foreseeable future.
About the Innovation Trophy
SEINARI (www.seinari.fr) is the innovation agency for the Northern region of Normandy France. The organization aims to foster innovation in all its forms, to accelerate the commercialization of innovative projects and support applications with members of the innovation development network.
The trophy is awarded to companies that show exemplary achievements in commercially applicable innovation projects. It is open to companies and research laboratories, and rewards recently completed projects with the aim of accelerating their commercialization. To qualify, a company must show a competitive advantage of a product or service.
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.
For more information regarding this press release, contact:
Christopher Hopton
CFO
Sirona Biochem Corp.
Phone: 1.604.282.6064
Email: chopton@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.