Vancouver, British Columbia – October 7, 2014 – Sirona Biochem Corp. (TSX-V: SBM.V FSE: ZSB) is pleased to announce that its partner Obagi Medical Products Inc., a wholly-owned subsidiary of Valeant Pharmaceuticals International, Inc., has started manufacturing scale-up of the innovative skin lightening compound (TFC-849) originally developed by Sirona’s scientists in France.
Contrary to western culture’s desire for tanned skin and sun-kissed cheeks, there is a growing trend for lighter skin in many parts of the world. The global skin lighteners market has been forecast to reach a value of US$19.8 billion by 2018, driven by the growing desire for light-coloured skin among both men and women. There is a recognized need for a safer and more effective skin lightening agent. Sirona Biochem developed an innovative compound that met this need. Several studies have been conducted to demonstrate the effectiveness and stability of Sirona Biochem’s depigmenting agent TFC-849 with impressive results:
- TFC-849 is 14X more effective than beta arbutin
- TFC-849 is 7X more effective than alpha arbutin
- TFC-849 is chemically stable and does not release hydroquinone
- TFC-849 is non-genotoxic
- TFC-849 is shown to be a non-irritant in ocular tolerability study
- TFC-849 is shown to be a non-phototoxic in study against UVA irradiation
- TFC-849 is shown to be a non-irritant in RHE study
Sirona Biochem licensed its patented skin lightening technology and know-how to Obagi in January 2014. Obagi is responsible for manufacture and distribution of the compound as part of a line of skin care products which includes skin lightening.
“Obagi Medical Products is a world-renowned company which offers some of the most efficacious skin care products on the market”, said Dr. Howard Verrico, Chief Executive Officer of Sirona Biochem. “With manufacturing started, we can now confidently look forward to the commercial launch of the skin lightener. Thanks to TFC-849, Obagi’s new products will be safer and more effective than products currently in the market so there is high probability that Obagi can see its already substantial market share increase further over the coming years. Sirona will receive ongoing royalty payments for global sales of the commercialized product which will be part of Obagi’s best-selling product line.
About Obagi Medical Products
Obagi Medical Products Inc., is a global specialty pharmaceutical company founded by leading skin care experts in 1988, and is owned by Valeant Pharmaceuticals International, Inc. (NYSE:VRX). Obagi products are designed to minimize the appearance of premature skin aging, skin damage, hyperpigmentation, acne, and sun damage and are primarily available through dermatologists, plastic surgeons, medical spas, and other skin care professionals. For more information please visit www.obagi.com or www.valeant.com.
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.
About the Betaclear (Skin Lightening) Project
Sirona Biochem’s French subsidiary TFChem received a $1.9 million grant in November 2011. This project is co-financed by the European Union and Europe Witnesses in Haute-Normandie with the support of the European Regional Development Fund (E.R.D.F.). A consortium of partners, including the University of Rouen (LMSM EA4312), contract research organization Biogalenys, and TFChem has been assembled to advance this project. The French government and European Union are looking to promote and initiate collaborative projects that are focused on the development of new products and services containing a high level of innovation.
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.
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.