Clinical trial results expected Q1
2019
VANCOUVER, Jan. 30, 2019 /CNW/ - Sirona Biochem Corp.
(TSX-V: SBM) (FSE: ZSB) (the "Company") is pleased to
provide a corporate update today from the Company's CEO, Dr.
Howard Verrico regarding its plans
for the current calendar year.
Dear Shareholders,
I am pleased to provide the following update on Sirona's current
activities and anticipated developments for 2019.
Sirona's skin lightening compound TFC-1067
Clinical Trial
The proof of concept clinical trial for Sirona's skin lightening
compound TFC-1067 began on 26th November 2018 at a center in North Carolina under the supervision of top
dermatologist, Dr. Zoe Draelos. The
double-blinded trial will assess the safety and efficacy of
TFC-1067 in lightening the skin of patients with melasma as well as
balancing overall skin tone. The study will end late February.
Sirona management expect to receive results 1-2 weeks after the
trial is completed.
Global Licensing Strategy
One of the largest US cosmetic companies has invested
significant time and resources to evaluate TFC-1067. Their due
diligence has included months of research and a substantial
investment of resources. We have met with, and presented to, the
management and founders of the company and they remain excited
about incorporating Sirona's compound into their existing product
line.
With this progress to date, we anticipate licensing discussions
to follow the clinical trial. However, to mitigate risk and
maximize opportunity, we have maintained communication with a
number of leading cosmetic companies around the world and have
developed many new contacts. We have established and continue to
build a list of companies eagerly awaiting the results of our
clinical trial. This includes our efforts in Japan through our Tokyo based consultant.
China Licensing Strategy
The global skin lightening market is estimated to grow to
US$31.2 billion by 2024. Of this,
Asia makes up the largest and
fastest growing market1. However, there remain health
concerns over many of the currently available lighteners due to the
sensitivity of Asian skin. Accordingly, we have chosen to enter
this market separately from the global licensing strategy so we can
maximize the commercial opportunity while providing a safe,
effective product for the Asian skin-type.
After many months in China
exploring numerous opportunities, our advisor, PRC Partners, has
established, and greatly progressed, a relationship in China with a large cosmetic distribution
company. We have signed a memorandum of understanding to work with
this distribution company.
This company is currently managing and funding a 3-site,
60-person, clinical trial for TFC-1067 which is well underway with
preliminary results anticipated mid-February. The trial is
comparing TFC-1067 to brands local to the Chinese market and will
provide an assessment of the effects of TFC-1067 on Asian skin.
Based on our scientific knowledge of TFC-1067, we believe our skin
lightener will avoid sensitivity and efficacy issues currently
associated with existing skin lighteners. The distributor is
contemplating making a significant equity investment in Sirona
pending positive results of their testing.
We are very pleased with the work that PRC has done in
China and we will continue to
update our shareholders as the trial and agreements advance.
Sirona's Diabetic drug candidate SGLT-2 inhibitor,
TFC-039: Clinical
& Animal Trials
China also represents the
largest market for diabetes with approximately 114 million adults
now with the disease2. Our partner, Wanbang
Biopharmaceuticals, continues to progress the development of
TFC-039 for the treatment of type 2 diabetes. We will meet with
them shortly and anticipate a joint announcement on their progress
regarding the status of CFDA testing after the Chinese New
Year.
Our companies have agreed to coordinate all news releases on
this project. We remain very pleased with the ongoing progress and
our close relationship with Wanbang.
TFC-039 is also being tested for companion animals. The company
doing testing is currently consolidating data from the first study.
Based on these results, a decision will be made on how to move
forward.
Many of our initiatives will reach a critical point in 2019 and
we expect it to be a watershed year for Sirona Biochem. We thank
you for your continued support and are looking forward to reporting
our continued progress.
Sincerely,
Dr. Howard Verrico, CEO
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.
Sirona's compounds are licensed to leading companies around the
world in return for licensing fees, milestone fees and ongoing
royalty payments. Sirona's laboratory, TFChem, is located in
France and is the recipient of
multiple French national scientific awards and European Union and
French government grants. For more information, please
visit www.sironabiochem.com.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Sirona Biochem cautions you that statements included in this
press release that are not a description of historical facts may be
forward-looking statements. Forward-looking statements are only
predictions based upon current expectations and involve known and
unknown risks and uncertainties. You are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date of release of the relevant information, unless
explicitly stated otherwise. Actual results, performance or
achievement could differ materially from those expressed in, or
implied by, Sirona Biochem's forward-looking statements due to the
risks and uncertainties inherent in Sirona Biochem's business
including, without limitation, statements about: the progress and
timing of its clinical trials; difficulties or delays in
development, testing, obtaining regulatory approval, producing and
marketing its products; unexpected adverse side effects or
inadequate therapeutic efficacy of its products that could delay or
prevent product development or commercialization; the scope and
validity of patent protection for its products; competition from
other pharmaceutical or biotechnology companies; and its ability to
obtain additional financing to support its operations. Sirona
Biochem does not assume any obligation to update any
forward-looking statements except as required by law.
1 Global Industry Analysts(2018,
March). Obsession with Lighter Skin Tones in Asia, the
Middle East & Africa Drives Opportunities in the Global Skin
Lighteners Market Retrieved from
https://www.strategyr.com/MarketResearch/Skin_Lighteners_Market_Trends.asp
|
2 Zhang, J. (2018, July
19). The Diabetes Market in China. Retrieved from
http://www.pharmexec.com/diabetes-market-china
|
SOURCE Sirona Biochem Corp.