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Sirona Biochem Corp . (TSX-V: SBM) (FSE: ZSB) (OTC: SRBCF) (" Sirona " or the " Company ") provides the following update:
Dear shareholders,
SIRONA BIOCHEM Corporate Update April 2024
We are pleased to provide an update on our recent milestones and strategic decisions shaping Sirona Biochem's path forward.
AGM
Last week, during our Annual General Meeting (AGM), we successfully gained another year of backing for our management team. Although it's common for many shareholders to abstain from voting, we're pleased to report that we've received numerous messages from our shareholders expressing their support for our ongoing corporate strategy.
Financing
We have closed our financing well below its anticipated goal. The small cap marketplace in the Canadian market is very challenged at this time. Our past supporting brokers do not have the fund-raising capabilities of the past. Instead of dropping the financing share price we are in discussion with investment funds to assist with our financial needs. This includes funds based in Europe, North America, and Asia, linking future investments to our commercialization of GlycoProteMim TM .
The commercialization of GlycoProteMim TM offers substantial potential for financial returns, benefits from clinically validated technology, and has a relatively swift path to generating revenue.
We persist in exploring non-dilutive funding sources from France and Canada as our preferred financing option whenever feasible.
Branding of GlycoProteMim TM (TFC-1326)
We have successfully selected the brand name for our anti-aging product. We will soon be proceeding with the formal trademark registration. The name will be made public closer to launch. Our cosmetic branding expert, based in Paris, is currently concentrating on developing brand messaging to establish this new product line as a premium offering in the anti-aging market.
Preparation for Commercialization of GlycoProteMim TM
We are on track for a commercial launch of our first consumer products containing GlycoProteMim TM in Europe and North America in early 2025 through our subsidiary, Sirona Laboratories, with plans to expand to other international markets afterward. Additionally, we've expanded our strategy to include the development of a second GlycoProteMim TM -infused product. Our brand and marketing team is convinced that broadening our product range is essential for achieving the best market penetration and ensuring consumer satisfaction.
An initial production batch of custom cosmetic containers, tailor-made for our products, is currently being manufactured by a premier French company. We have engaged a South Korean specialist in product label design to create our labels. Furthermore, a renowned Parisian facialist is crafting a specific massage protocol for the application of our products.
Product Samples
The demand for product samples has arisen earlier in the development phase than expected, prompting us to adjust our plans to accommodate this interest. It's clear that people are eager to physically interact with the product themselves. At this point, our capability to provide samples is limited to key potential stakeholders around the world who require a hands-on experience with the product to build their investment confidence.
Overall GlycoProteMim TM Strategy
Our strategy involves launching in Europe and North America in early 2025, with a view to exploring licensing opportunities in pivotal markets such as South Korea, Japan, and China, where partnering is the favored approach for market entry. We foresee a variety of commercialization paths. Possessing established products significantly enhances our ability to achieve this objective. Key contacts have been pinpointed, and we are in the process of identifying additional ones.
Our strategy does not encompass any solitary licensing agreement. Our patent application for GlycoProteMim TM spans 54 countries, encompassing all major markets.
Pipeline
Sirona Biochem is currently honing its focus on the cosmetic and therapeutic skincare sector, where we identify the most significant commercial potential. Our pipeline includes a variety of projects, some of which have been made public, while others are kept under wraps due to competitive reasons and intellectual property concerns. Our scientific team is continuously at the forefront of innovation, discovering incredibly promising opportunities.
TFC-1067 Global License Agreement
Allergan Aesthetics is actively progressing with the integration of TFC-1067 into its product lineup. We will inform our shareholders of any developments as soon as it is feasible. The introduction of TFC-1067 into the market presents a significant chance to enhance our company's value and expand our growth prospects. It's important for shareholders to recognize that this is a global licensing agreement, which represents a considerably greater value to Sirona compared to the prior supply agreement with Rodan and Fields.
Summary
Navigating the financial challenges in this market is complex, but we have strategies in place to address them. While there are concerns among shareholders about dilution, our plans carry substantial potential to benefit our shareholders significantly. Although some level of dilution may occur, our goal is to enhance value to a degree that more than validates our approach. The continued support from our shareholders is crucial for our collective success.
About Sirona Biochem Corp.
Sirona Biochem is a biotechnology company focussing on innovative cosmetic and dermatology active ingredients 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 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 .
For more information regarding this press release, please contact:
Investor Enquiries:
Christopher Hopton
Chief Financial Officer
Phone: (604) 641-4466
Email: info@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.
Forward Looking Statements
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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Sirona Biochem Announces Close of Private Placement
Vancouver, British Columbia – April 4, 2024 Sirona Biochem Corp . (TSX-V: SBM) (Frankfurt: ZSB) (" Sirona ") has closed its private placement (Private Placement") for gross proceeds of $132,500 CAD. The Private Placement consists of 1,325,000 units, (the "Units") at a price of $0.10 per Unit. Each Unit consists of one common share and one transferable share purchase warrant, each whole warrant exercisable into one additional common share of the Company for a period of 2 years from the date of issue at a price of $0.15 per Share in year one and $0.25 per Share in year two. All securities issued under the Private Placement are subject to statutory hold periods expiring on August 4, 2024.
Proceeds will be used for general working capital purposes.
No insiders participated in the Private Placement.
No finders' fees were paid from the Private Placement.
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 .
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, please contact:
Christopher Hopton, CFO,
604-641-4466
Email: Info@sironabiochem.com
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.
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Sirona Biochem Announces 2023 Annual Meeting Results
Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) (OTC: SRBCF) (" Sirona ") announces the voting results from its Annual General Meeting of Shareholders (the "Meeting"), held in Vancouver, British Columbia on March 28, 2024. The total number of shares represented by shareholders present in person and by proxy at the Meeting was 26,722,196, representing 10.52% of Sirona's issued and outstanding Common Shares.
All matters put forward to shareholders for consideration and approval, as set out in the Company's Management Information Circular dated 22nd of February, 2024, were approved by the requisite majority of votes cast at the Meeting. These were:
1. To elect Sirona's board of directors; 2. to fix the number of directors of the Company at five; 3. to appoint Davidson & Company LLP, Chartered Professional Accountants, as the Company's auditor for the ensuing year and authorize the directors to set the auditor's remuneration; and 4. to confirm and approve the Company's existing stock option plan.
Sirona would like to thank all shareholders for their continued support.
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 .
For more information regarding this press release, please contact:
Investor Enquiries: Christopher Hopton CPA
Email: chopton@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.
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.
TSX-V: SBM
www.sironabiochem.com
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