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Sirona Biochem Corp
Symbol SBM
Shares Issued 121,536,155
Close 2014-07-22 C$ 0.10
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Sirona licensee completes two SBM-TFC-039 studies

2014-07-23 07:51 ET - News Release

Mr. Howard Verrico reports

SIRONA BIOCHEM ANNOUNCES SUCCESSFUL COMPLETION OF TWO FIRST LINE STUDIES BY WANBANG BIOPHARMACEUTICALS

Sirona Biochem Corp. has provided an update. Wanbang Biopharmaceuticals has completed two preclinical efficacy studies of the SGLT2 inhibitor SBM-TFC-039. The studies independently confirm that SBM-TFC-039 increased urinary glucose excretion and improved oral glucose tolerance in normal SD rats. The results were consistent with those previously completed by Sirona Biochem.

The next steps in the validation of SBM-TFC-039 will be the pharmacokinetic study and the 14-day toxicology repeated administration on normal SD rats. If further positive results are obtained, as expected, Wanbang will have completed the first milestone of its licence agreement with Sirona Biochem. This will trigger a second payment to Sirona from Wanbang Biopharmaceuticals, part of the $9.5-million in upfront and milestone payments.

According to a 2013 study published in the Journal of the American Medical Association the People's Republic of China now has the greatest prevalence of diabetes. It is estimated that 11.6 per cent of the adult population or 114 million people are affected; this is the first time that a country has surpassed the United States, which has an estimated 11.3 per cent living with the disease.

It is also estimated that approximately half of all Chinese adults, a total of 493 million people, could be suffering from prediabetes, a preliminary stage in which the sugar metabolism is already disturbed, but diabetes is not yet present.

"Wanbang Biopharmaceuticals' dedication to quickly advancing this project to clinical trials confirms the strength of Sirona's partnership with China's top-ranked diabetes pharmaceutical company. The value of this pharmaceutical to Sirona grows both within China, home of the world's largest diabetic population and outside China to other potential pharmaceutical partners," said Howard Verrico, chief executive officer of Sirona Biochem.

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