Formulation testing by potential licensee gets underway shortly
Vancouver, British Columbia – September 15, 2015 – Sirona Biochem Corp. (TSX-V: SBM, Frankfurt: ZSB, Xetra®: ZSB.DE) (the “Company”) is pleased to announce the successful scale-up of its skin lightening compound SBM-TFC-1067 (“1067”).
Sirona Biochem commissioned its contract research organization (CRO) Roowin (www.roowin.com) for the scale-up of 1 kg of 1067 compound. The successful scale-up represents a major scientific breakthrough by Sirona’s laboratory in Rouen, France. A quantity of 200 grams of 1067 was delivered last week for formulation and solubility testing by a major multinational corporation under a previously signed material transfer agreement.
One of the major differentiators between 1067 and Sirona’s earlier generation skin lightening compounds is that the chemical process of applying Sirona’s proprietary fluorination technology now requires only three steps to yield a final product. This results in a highly favourable cost of goods (COGs) and more importantly, a product with very profitable commercial viability. A preliminary estimation of COGs for the active ingredient yielded $0.10 CAD per 100 ml final formulation at a final concentration of 0.1%.
Dr. Howard Verrico, CEO of Sirona Biochem, states, “Formulation testing on this quantity of compound represents a major milestone in the development of 1067, which will ultimately result in a successful licensing deal with one of the top cosmetic companies in the world.” He further stated, “This is the first time in Sirona’s history that we have advanced a cosmetic compound to formulation testing.”
Attila Hajdu, Chief Business Development Officer at Sirona Biochem, said, “Potential partners have replicated in vitro tests that we have done in the past to double-check our efficacy and safety data, and whatever else meets their needs to justify further collaboration. The request for formulation testing was a pleasant surprise for us because we originally anticipated that formulation work would occur after a licensing deal. This is a very exciting development.”
About Sirona Biochem
Sirona Biochem is a cosmetic ingredient and drug discovery company with a proprietary technology platform developed at its laboratory facility in France. The Company specializes in the stabilization of carbohydrate molecules, with the goal of improving compounds’ efficacy and safety. Sirona Biochem’s compounds are patented as new chemical entities for maximum commercial protection and revenue potential. Newly developed compounds are licensed to leading companies around the world in return for licensing and milestone fees and ongoing royalty payments. TFChem, Sirona Biochem’s wholly-owned French laboratory, is a recipient of multiple French national scientific awards and a European Union and French government grant. For more information visit www.sironabiochem.com.
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For more information regarding this press release, please contact:
Christopher Hopton, CFO
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.