06:50:05 EDT Fri 29 Mar 2024
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Sirona Biochem Corp
Symbol SBM
Shares Issued 225,839,320
Close 2019-12-18 C$ 0.415
Market Cap C$ 93,723,318
Recent Sedar Documents

Sirona in discussions for new market for diabetes drug

2019-12-19 07:41 ET - Shareholders Letter

Dr. Howard Verrico reports

SIRONA BIOCHEM CEO LETTER TO SHAREHOLDERS

Sirona Biochem Corp. has provided the following update to shareholders.

Dear shareholders,

Thank you for the continuing support of Sirona. I am pleased to report that 2019 saw our company's market cap rise approximately 400 per cent. With a share price of 8.5 cents in January to 42 cents in December of this year. We are continuing to work hard to continue to grow the company. We have a product going to commercialization with a multinational skin care organization, a pharmaceutical doing well in clinical development and multiple ongoing discussions with organizations that are interested in partnerships. We are well financed to complete our objectives and remain committed to increasing shareholder value through 2020.

TFC-1067

Rodan + Fields (R+F) are completing commercialization of its new skin brightening product. Timing of the product sales remains confidential; however, we will update shareholders as we are able. We are preparing an inventory of TFC-1067 with contract research organization, Roowin, for the anticipated orders of TFC-1067. The team has also committed to quarterly calls between the two companies in order to maintain momentum on the current project as well as discussion around other potential new ingredients being developed by Sirona. R+F remain highly interested in Sirona's pipeline of new cosmetic ingredients.

China manufacturing of TFC-1067 is in the stage of further process development with a large contract manufacturing company (CMO) that was identified by our board member, Jason Tian, and our chemical engineer consultant, Pinqiao Zhao. We are very pleased with the work they have done to secure an excellent CMO for TFC-1067. Once the process development is completed and there is agreed pricing, we will have the necessary manufacturing established for our anticipated growing sales of TFC-1067.

As we reported, TFC-1067 is also nearing completion of the preparatory studies to enter clinical trial at a higher dose. We anticipate the study to begin in Q1 or very early Q2. We are making every effort to expedite this process and formulations of the new creams are being prepared now. Again, this does not affect our current relationship with R+F. We plan to continue adding to the existing commercial value of TFC-1067 by exploring the full consumer benefits. We plan to look at effects on dosing, different skin types and even on different skin conditions. We are confident we will expand licensing opportunities through 2020.

TFC-039

Our type 2 diabetes drug, TFC-039, is proceeding through clinical development at Wanbang Biopharmaceuticals. Our business development representative, D. Billings, is working closely with the Wanbang team to ensure this project stays on track. To date, the compound has had no adverse events and is progressing ahead of schedule.

We are also in discussions for our diabetes drug to enter a new market in what is anticipated to be a major transaction for Sirona. We are unable to disclose details at this time due to competitive reasons. An enormous effort involving Sirona and two major corporations should result in a news release early in the new year.

Anti-wrinkle

We have had tremendous interest in our anti-wrinkle compound and are currently creating a new batch of product to begin the toxicology studies necessary for a clinical trial. We expect to have these results within the second half of 2020. Alongside these studies, we will be preparing the clinical efficacy study protocol and formulations so we can move immediately to testing.

New projects

And finally, we are working on establishing new relationships in China which will strengthen Sirona's capabilities and global presence. Formal partnerships are being discussed.

Our scientists in France are continually exploring new projects and we already have a number planned. Until we secure the intellectual property, we need to keep the details confidential. Our platform technology developed by Dr. Geraldine Deliencourt-Godefroy and her team of scientists at TFChem is becoming recognized as a proven commercial success. We are excited about Sirona's near term and long-term potential. In Q1 2020, we will be launching a more active social media campaign as well as redesigning the website to better represent our company and recent successes.

Again, we would like to thank all shareholders that have stood by Sirona and believe in our team and our science. Wishing you and yours the very best for the holiday season.

Dr. Howard Verrico, chief executive officer

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.

We seek Safe Harbor.

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