Dr. Howard Verrico reports
SIRONA BIOCHEM SECURES STRATEGIC INVESTMENT AGREEMENTS AND NEW JOINT VENTURE WITH PROMURA GMBH
Sirona Biochem Corp. has successfully execution of a strategic investment agreement with Promura GmbH, a German-based investor. The agreement includes the private placement of $3-million CAD in unsecured, 12 per cent convertible debentures, by Promura.
In addition to the convertible loan, Sirona and Promura have signed a letter of intent outlining the formation of Sirona Laboratories, a new, jointly operated subsidiary focused on dermatological and cosmetic innovation. Sirona Laboratories will be established in Luxembourg and will be responsible for the exclusive distribution of anti-aging products based on the TFC-1326 active ingredient.
Promura has expressed its intention to invest up to $12-million into Sirona Labs, contingent on the completion of certain due diligence procedures and the fulfilment of specific conditions. As part of the partnership, Promura will also provide experienced personnel to manage operations, drawing on extensive industry expertise in cosmetics and dermaceuticals.
This commitment signals a significant step forward in the company's growth and development.
"We are thrilled to partner with Promura GmbH and are excited about the strong foundation this investment provides for Sirona's future and the establishment of a subsidiary, Sirona Laboratories. The additional investment, pending due diligence, will further strengthen our position in the market and help us accelerate the commercialization of our anti-aging product line. This partnership enables us to move forward with our plans to market our innovative anti-aging treatments, an area we believe holds immense potential for growth and impact in the health and wellness industry," said Dr. Howard Verrico, chief executive officer of Sirona Biochem.
Proceeds from the initial private placement will be allocated toward general working capital, continuing research and development, and the commercialization of Sirona's proprietary anti-aging product line. Funds will also be used to complete the company's overdue audited financial statements and annual management discussion and analysis, addressing the cease trade order issued by the British Columbia Securities Commission on March 6, 2025. These initiatives reflect Sirona's continued commitment to advancing innovative therapeutics that redefine the cosmeceutical and treatment landscape. The financing is expected to close within 60 days. In the interim, Sirona intends to announce a smaller bridge financing to support these same objectives. Sirona Biochem is committed to delivering innovative solutions to address critical unmet needs in the health care industry, and this partnership marks an important milestone in its continuing efforts to drive shareholder value and bring life-changing products to market.
The company plans to compensate finders by way of cash fees and warrants.
The completion of the private placement is subject to customary conditions, including acceptance from the TSX Venture Exchange. All securities issued will be subject to a hold period in accordance with TSX-V and/or other regulatory requirements.
About Sirona Biochem
Corp.
Sirona 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 continuing royalty payments. Sirona's laboratory, TFChem, is in France and is the recipient of multiple French national scientific awards and European Union and French government grants.
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