Dr. Howard Verrico reports

SIRONA BIOCHEM SIGNS LETTER OF INTENT WITH TOP CHINESE PHARMACEUTICAL DEVELOPMENT COMPANY

Sirona Biochem Corp. has signed a letter of intent (LOI) with Chinese pharmaceutical company Beijing Huaxi Pharma Co. Ltd., ranked No. 5 in the field of pharmaceutical development in China, to engage in a collaborative effort to bring Sirona's product pipeline to commercial-ready stage for the global market.

Huaxipharm will co-develop on all steps to complete full commercialization of the products created by Sirona. This includes preclinical, clinical development, regulatory, commercial scale-up and manufacturing for commercial applications of Sirona's compounds for indications mutually agreed upon in the definitive agreement. Huaxipharm will receive a determined percentage ownership of the commercialized product for global sales as results of its inputs in the process of product commercialization.

The LOI is representative of the commitment of both organizations to work together. Sirona and Huaxipharm can now move to complete negotiations of a definitive agreement, which should be completed in the second quarter of 2020. Once Huaxipharm is publicly listed, Sirona management anticipates the relationship going well beyond the service and development agreement.

"Huaxipharm is a partner that can provide a new level of product development both in China and globally. Their expertise in active ingredients as well as a solid understanding of the CDFA navigation will benefit Sirona greatly with expansion into this marketplace. Huaxipharm has added expertise that will allow Sirona's scientists to better develop new opportunities beyond drug discovery to fully commercially ready products," said Dr. Howard Verrico, chief executive officer of Sirona Biochem. "We are also monitoring the situation in China as it combats the coronavirus. We have an established team in China, which is continuing to move our projects forward. To date all projects are progressing. We have modified travel plans of our team but continue to conduct business virtually and will move meeting locations as necessary. We are also advancing on other fronts outside of China where we are optimistic to provide an update in the near term," he added.

"After screening the worldwide market for promising collaboration partners for quite some time, we were pleased to get introduced to Sirona Biochem and quickly realized the enormous potential of their platform technology. We are looking forward to finalizing our due diligence and definitive agreement as soon as possible so that we can get to work in bringing new and innovative Sirona compounds to the market," said Dr. Hua Bi, chief executive officer of Beijing Huaxi Pharma.

About Sirona Biochem Corp.

Sirona Biochem is a cosmetic ingredient and drug discovery company with a proprietary platform technology. Sirona's subsidiary lab, TFChem, 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.