Strategic Collaboration Planned to Bring
Sirona's Product Pipeline to Commercial-Ready Stage
VANCOUVER, March 4, 2020 /CNW/ - Sirona Biochem Corp.
(TSX-V: SBM) (FSE: ZSB) (US-OTC: SRBCF) ("Sirona") is
pleased to announce that it has signed a Letter of Intent ("LOI")
with the Chinese pharmaceutical company, Beijing Huaxi Pharma Co,
Ltd. ("Huaxipharm"), ranked number five 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 Q2/2020. 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,
CEO 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, CEO of Beijing
Huaxi Pharma.
About Beijing Huaxi Pharma
Beijing Huaxi Pharma ("Huaxipharm") is a leading company in
the field of pharmaceutical development, founded in 2003. For the
16 years since establishment, Huaxipharm has had many achievements,
including creating a high-quality proficient team in pharmaceutical
technology development and management, building up a core
capability in pharmaceutical chemistry manufacturing and controls
(CMC) and establishing new drug development that is compliant with
international market standards with respect to: R&D
environment, lab equipment, human resource allocation, quality
system and management system.
Huaxipharm has recently realized its successful transformation
from a technology enterprise to a pharmaceutical development and
manufacturing company through M&A and reorganization. Its
current business covers independent development and manufacturing
of API, oral solid formulation for global markets with the
international GMP certification. It also undertakes contract
manufacturing or OEM business such as for nasal spray, eye drops
and other liquid preparations by international technology transfer
that are compliant to international GMP certification.
In 2015, Huaxipharm was listed as one of the top-five
companies in China for the number
of pharmaceuticals receiving IND approvals from China's CFDA (after Hengrui, Bayer, Yangzi
River and Pfizer). The Company has made significant achievements in
promoting the Chinese pharmaceutical industry, completing tens of
tech transfers to the top pharmaceutical companies in China in API synthesis optimization and
pharmaceutical formulation for large-scale production.
Huaxipharm is seeking cooperation or partnership with
outstanding enterprises for providing global market with
high-quality pharmaceuticals of social benefits, aspiring to become
a respected international pharmaceutical company.
Huaxipharm has intention to pursue an IPO at the Hong Kong Stock
Exchange.
For more information, visit: www.huaxipharm.com
(Note: the web site is currently being updated as a priority task
in response to the planned collaboration)
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.
Sirona's compounds are licensed to leading companies around the
world in return for licensing fees, milestone fees and ongoing
royalty payments.
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.
SOURCE Sirona Biochem Corp.