VANCOUVER, Oct. 9, 2019 /CNW/ - Sirona Biochem Corp. (TSX-V:
SBM) (FSE: ZSB) (US-OTC: SRBCF) ("Sirona") announces that it
has completed a binding term sheet with Tinyi Trading Company
("Tinyi") for the distribution of its skin lightener
TFC-1067 following strong commercial interest after clinical trial
results. Tinyi will have distribution rights within Asia as well as exclusive rights for
China.
Tinyi, founded in 2006, is a well-established cosmetic
ingredient distributor headquartered in Guangzhou, the cosmetic valley in China. Tinyi has extensive experience
operating in the cosmetic market and relationships with numerous
key cosmetic companies. These relationships are necessary to
capitalize on the enormous opportunity to commercialize TFC-1067
within Asia. Tinyi will also
assist Sirona in navigating the regulatory requirements and all
necessary steps towards commercialization, including formulation
and marketing. Sirona will remain responsible for the manufacture
of TFC-1067. Finalizing the cost of local manufacturing will
provide necessary information to complete the definitive agreement
with Tinyi which is anticipated to be completed in Q1/2020.
Tinyi was responsible for the clinical testing of TFC-1067
completed by a select group of its key cosmetic customers. The
formulation used in the studies was the same as that used in
Sirona's first clinical trial in the USA by Dr. Zoe
Draelos. The clinical trial design protocols and testing was
conducted independently of Sirona by the cosmetic companies in
Guangzhou, China.
A total of 60 participants were involved in the studies
conducted over several sites. All participants applied the
formulation with TFC-1067 twice daily for 4 weeks. At the
completion of the 4-week study, 90% of participants reported a
brightening effect. A second set of trials with Sirona's improved
formulation was also done which further demonstrated positive
results and created a growing interest in using TFC-1067 in product
lines.
TFC-1067 is a clinically proven safe and effective treatment to
lighten areas of skin with increased pigmentation called
dyschromia. The global skin lightening market is estimated to grow
to US$31.2 billion by
20241. Asia makes up
the largest and fastest growing segment of the market. A World
Health Organization survey reported that nearly 40% of women polled
in China said they regularly use
whitening products, many of which are toxic2.
"We are excited to begin the process of entering the Asian
market with Sirona's clinically proven and safe skin lightener
TFC-1067. Although there is still work ahead before commercial
launch, we have established a clear path forward," reports Dr.
Howard Verrico, CEO of Sirona
Biochem. "We are pleased to extend our presence within the Peoples Republic of China beyond our
successful relationship with Wanbang Biopharmaceuticals for our
diabetic drug TFC-039. We are steadily moving towards launching
TFC-1067 in other territories in Asia in what is a global opportunity."
About Tinyi Trading Company
Tinyi Trading Company, incorporated in 2006, has been primarily
engaged in personal care industries, importing and distributing
foreign raw materials for personal care, and providing various
"beautiful solutions" in Asian markets. Its product portfolio
covers emulgators, thickening stabilizers, emollients, surfactants,
sun screening agents, preservatives, essence, and various active
compounds. With over a decade of business in the industry, Tinyi
has always endeavored to provide quick and efficient services,
establishing itself as one of best distributors in the industry.
Tinyi has a strong active sales and customer service team and has
its own advanced R&D center including a 2,000 sqm warehouse
located in Guangzhou, China.
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 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.
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1 https://www.factmr.com/report/309/skin-lightening-products-market
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2 http://theglobalfool.com/tag/mercury/
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SOURCE Sirona Biochem Corp.