04:41:36 EDT Wed 19 Jun 2019
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Sirona Biochem Corp
Symbol C : SBM
Shares Issued 172,230,882
Close 2018-10-17 C$ 0.08
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Sirona Biochem appoints Harpering as consultant

2018-10-17 09:41 ET - News Release

Dr. Howard Verrico reports

SIRONA BIOCHEM ENGAGES CONSULTANT FOR JAPANESE MARKET PENETRATION

Sirona Biochem Corp. has engaged Sven Harpering, a Tokyo-based consultant, with the help of its strategic advisory firm, PRC Partners, to fast-track negotiations in Japan.

Mr. Harpering is a recognized Japanese business expert with a master's degree in East-Asian studies. He has 14 years of business experience in Germany and 10 years in Japan, where he built a strong record working in top management positions within various businesses.

With a deep insight of Japanese business culture and a high degree of fluency in Japanese, he is currently acting as a door-opener, consultant, intermediary and interpreter for a complex and demanding cross-section of businesses, including: medical instruments, cosmetics, food and food supplements.

The company has appointed Mr. Harpering to build and negotiate licensing agreements for Sirona Biochem's lead skin lightener, TFC-1067, as well as its anti-wrinkle compound, LIP-01, exclusively in Japan. Mr. Harpering will be working as a full-time consultant for Sirona Biochem.

Asia continues to be the fastest-growing market for skin lightening, with high consumer purchasing power and a large demand for safe, effective products that are hydroquinone-free. Specifically, Japan has the largest market for skin lightening in the world, accounting for approximately 70 per cent of the global market revenue, or $14-billion (U.S.).

Sirona Biochem recognized the difficulty of penetrating the valuable Japanese market and elected to bring Mr. Harpering on board to capitalize on his extensive expertise in the market and his experience negotiating deals with government officials. Because he is based in Japan and speaks fluent Japanese, this will enable and expedite discussions with leading Japanese cosmetic companies.

"We are pleased to have Mr. Harpering representing Sirona in Japan and taking the lead in finding the right partners for TFC-1067 and LIP-01," commented Dr. Howard Verrico, chief executive officer of Sirona Biochem. "It is essential we have an expert located in Japan who is familiar with the local business customs, can act quickly and has previously achieved success in negotiations in Japan. We believe this is the most cost-effective way to introduce Sirona to the large cosmetic companies in Japan and develop partnerships."

Sirona Biochem remains focused on securing licensing agreements for TFC-1067 in North America and China. As discussions move forward, expanding Sirona Biochem's market reach will ensure greater success for TFC-1067. With the assistance of PRC Partners, as well as the consultants in Japan and China, the company believes it will be successful in licensing TFC-1067 in Asia and North America.

About Sirona Biochem Corp.

Sirona Biochem is a cosmetic ingredient and drug discovery company with a proprietary platform technology. Sirona Biochem specializes in stabilizing carbohydrate molecules with the goal of improving efficacy and safety.

Sirona Biochem's compounds are licensed to leading companies around the world in return for licensing fees, milestone fees and continuing royalty payments. Sirona Biochem's laboratory, TFChem, is located in France and is the recipient of multiple French national scientific awards, as well as European Union and French government grants.

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