Vancouver, British Columbia – July 29, 2011 – Sirona Biochem Corp. (TSX-V: SBM) (the “Company”), a biotechnology company specializing in carbohydrate chemistry technology, including the development of diabetes and obesity therapeutics, cosmeceuticals and biological ingredients, announced today it has identified a novel depigmenting agent for use as a skin lightener in creams and other cosmetics products.
“The development of this depigmenting agent marks the start of Sirona Biochem’s expansion into the cosmeceuticals market,” said Mr. Mark Senner, President of Sirona Biochem. “We believe our carbohydrate chemistry technology has tremendous potential in the development of new cosmetic ingredients. The advancement of this depigmenting agent as well as the recent appointment of renowned dermatologist Dr. Stuart Maddin to our Scientific Advisory Board are a testament to our commitment to expand our cosmeceuticals program,” Mr. Senner added.
Sirona Biochem’s subsidiary company, TFChem, has assembled a consortium of companies to evaluate the chemistry, toxicity and efficacy of the depigmenting agent. An application has been submitted to France’s Cosmetic Valley (http://www.cosmetic-valley.com/en/main.php) for the consideration of a grant for this project. Cosmetic Valley is the world’s leading resource centre for cosmetic expertise, research and training.
On March 31, 2011, Sirona Biochem acquired TFChem. With the newly acquired carbohydrate chemistry platform, Sirona Biochem will develop three major programs – diabetes and obesity therapeutics, cosmeceuticals and biological ingredients. The Company has identified cosmeceuticals and biological ingredients as high valued programs with lower development costs and shorter development timelines. The current skin lightening cream market is estimated to be in excess of $10 billion worldwide.
About Sirona Biochem Corp.
Sirona Biochem is a biotechnology company developing diabetes and obesity therapeutics, cosmeceuticals and biological ingredients. We are applying a proprietary chemistry technique to improve the pharmaceutical properties of our carbohydrate-based molecules. Our lead product, a sodium glucose transporter (SGLT) inhibitor for Type 2 diabetes, recently achieved positive preclinical results. For more information visit www.sironabiochem.com.
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