Sirona Biochem Signs Letter of Intent with Obagi Medical Products
30 9월 2013 - 8:45PM
OTC Markets
Sirona Biochem Signs Letter of Intent with Obagi Medical
Products
Sirona Biochem Signs Letter of Intent with Obagi Medical
Products
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sep 30, 2013) -
Sirona Biochem Corp. (TSX VENTURE:SBM) (OTCQX:SRBCF)
(FRANKFURT:ZSB) announced today the signing of a Letter of Intent
whereby Sirona Biochem will provide a global exclusive license to
Obagi Medical Products to commercialize the skin lightening
compound TFC-849. In exchange for this license, Sirona Biochem will
receive upfront and milestone payments as well as ongoing royalty
payments for global product sales.
"We are thrilled to be partnering with Obagi Medical Products to
commercialize our skin lightening technology into a global market
projected to reach $19.8 billion by 2018", said Neil Belenkie,
Chief Executive Officer of Sirona Biochem. "Our goal is to grow
this relationship, developing a pipeline of leading compounds for
Obagi Medical Products for sale around the world".
About Sirona Biochem
Sirona Biochem is not a traditional biotech company. Sirona is a
product-pipeline 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 being developed for both pharmaceutical and
cosmetic marketplaces and are patented as new chemical entities for
maximum commercial protection and revenue potential. 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.
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.
This news release contains forward-looking information,
which involves known and unknown risks, uncertainties and other
factors that may cause actual events to differ materially from
current expectation. Forward-looking statements in many cases can
be identified by words such as "may", "will", "expect", "believe",
"potential" or other similar terms. Risks and uncertainties
include, without limitation, negotiation of the terms of a
definitive licence agreement; difficulties or delays in
development, testing and obtaining regulatory approval of a
product; unexpected adverse side effects or inadequate therapeutic
efficacy of a product that could delay or prevent product
development or commercialization; the scope and validity of patent
protection for a product; and competition from other companies. As
a result, there are no assurances (i) that Sirona Biochem will be
able to enter into a definitive license agreement with Obagi
Medical Products or that it will be completed on the terms set out
in the LOI; (ii) that Obagi Medical Products will be able to
develop and commercialize Sirona's skin lightening compound
TFC-849; and (iii) that Sirona Biochem will be able to earn the
milestone payments as contemplated under the LOI or Obagi Medical
Products will obtain sales of a product at reasonable commercial
levels.
Readers are accordingly cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this news release. Sirona Biochem does not assume
any obligation to update any forward-looking statements except as
required by law.
Sirona Biochem (PK) (USOTC:SRBCF)
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Sirona Biochem (PK) (USOTC:SRBCF)
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