ANCOUVER, CANADA – November 4, 2010 – Sirona Biochem Corp. (TSX-V: SBM) (the “Company”), a biotechnology company specializing in carbohydrate-based molecules, including therapeutics for diabetes and obesity, cosmeceuticals and biological ingredients, announced today that has signed a Contribution Agreement of up to CDN$79,499 from the National Research Council of Canada’s Industrial Research Assistance Program (NRC-IRAP). In addition to the technical and business advisory services, the funding will be used to support Sirona Biochem’s research and development of SGLT2 (sodium glucose transporters) inhibitors, a new class of drugs for diabetes and obesity.
Sirona Biochem is developing SGLT2 inhibitors. SGLT2s are responsible for glucose reabsorption from the kidneys into the bloodstream. This process contributes to elevated levels of glucose in a person with Type 2 diabetes. SGLT2s inhibitors reduce the excess glucose from entering the bloodstream by releasing the glucose into the urine and may help control Type2 diabetes. Sirona Biochem applies a proprietary chemistry method to stabilize these SGLT2 inhibitors, a carbohydrate-based molecule, which is typically difficult to develop.
Sirona Biochem has a library of novel compounds for the development of SGLT inhibitors. This second financial contribution received from IRAP will be used to conduct studies and determine efficacy, selectivity and pharmacokinetics properties for the development of SGLT inhibitors.
About Sirona Biochem Corp.
Sirona Biochem is a biotechnology company developing diabetes and obesity therapeutics, anti-aging cosmetic ingredients and biological ingredients. Our proprietary chemistry expertise is being applied towards the development of these carbohydrate-based programs. Our aim is to improve the commercial value of carbohydrate-based molecules by improving their pharmaceutical qualities. 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.
For more information regarding this press release, contact:
Sirona Biochem Corp.
Phone: 604.641.4466 x273