VANCOUVER, BRITISH COLUMBIA – February 15, 2011 – Sirona Biochem Corp. (TSX-V: SBM) (the “Company”), a biotechnology company specializing in carbohydrate-based molecules, including therapeutics for diabetes and obesity, announced today that it was named as one of the TSX Venture 50 companies of 2011. The TSX Venture 50 recognizes the top ten companies in five major industries on Canada’s junior stock exchange.
Sirona Biochem ranked second in this year’s list of top ten leading technology and life sciences companies selected for the 2011 TSX Venture 50. The 2011 TSX Venture 50 companies are chosen based on share price appreciation, trading volume, market capitalization growth and analyst coverage, with equal weighting to each.
“Sirona Biochem is proud to be amongst the companies ranked in the 2011 TSX Venture 50,” said Sirona Biochem President Mark Senner. “This acknowledgement reflects that our achievements over the past year are being recognized by our investors as we continue towards our goal of developing valuable diabetes therapeutics and expanding our business,” he added.
About Sirona Biochem Corp.
Sirona Biochem is a biotechnology company specializing in carbohydrate-based chemistry. Our lead product is a sodium glucose transporter (SGLT) inhibitor for Type 2 diabetes. With our partner TFChem of France, we are using a proprietary chemistry technique to improve the pharmaceutical qualities of these SGLT-2 inhibitors. Sirona Biochem recently announced that this lead drug candidate achieved positive preclinical results and reduced blood glucose levels in a dose dependent manner by as much as 50% compared to untreated groups. It is our aim to develop a best-in-class diabetes treatment. In August 2010, Sirona Biochem announced it had signed a binding preliminary agreement to acquire France-based TFChem. For more information 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.
For more information regarding this press release, contact:
Sirona Biochem Corp.
Phone: 604.641.4466 x273
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.