Sirona Biochem Completes Global Exclusive Licensing Agreement with Obagi Medical Products
29 1월 2014 - 9:45PM
Marketwired
Sirona Biochem Completes Global Exclusive Licensing Agreement with
Obagi Medical Products
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 29, 2014) -
Sirona Biochem Corp. (TSX-VENTURE:SBM)(OTCQX:SRBCF)(FRANKFURT:ZSB)
announced today the formal execution of the global exclusive
licensing agreement with Obagi Medical Products (Obagi) for the
commercialization of skin lightening compound TFC-849. Sirona
Biochem will receive a licensing fee and ongoing royalty payments
for global product sales from Obagi Medical Products.
Sirona will transfer its patented skin lightening technology and
know-how to Obagi. Obagi will be responsible for the manufacturing,
distribution and global sales of the final commercial products.
Target launch of products including Sirona Biochem's TFC-849 is Q4
2014 for Obagi. The exclusive license for TFC-849 is valid for the
global Valeant Pharmaceuticals family of companies.
"Obagi Medical Products is a premiere brand and provider of
dermatological therapies worldwide," said Neil Belenkie, Chief
Executive Officer of Sirona Biochem. "The skin lightening market,
projected to reach $19.8 billion globally by 2018, provides an
enormous commercial opportunity for both OMP and Sirona Biochem to
provide safer, more effective therapies. We hope this is just the
first of many opportunities to work with Obagi Medical Products and
the Valeant Pharmaceutical family of companies."
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.
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.
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.
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 license 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 Obagi Medical Products
will be able to develop and commercialize Sirona's skin lightening
compound TFC-849; and (ii) that Sirona Biochem will be able to earn
the milestone payments as contemplated under the agreement or that
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 Corp.Christopher
HoptonCFO1.604.282.6064chopton@sironabiochem.comwww.sironabiochem.com
Sirona Biochem (PK) (USOTC:SRBCF)
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