VANCOUVER, British Columbia, Sept. 25, 2024 (GLOBE NEWSWIRE) -- Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) (OTC: SRBCF) ("Sirona" or the "Company") provides the following update:
Dear Shareholders,
We are thrilled to provide an update on our efforts to bring our innovative cosmeceutical portfolio to global markets, with the initial launch set for early 2025.
The commercialization of our first cosmetic product, a serum containing our GlycoProteMim active is progressing smoothly, in line with the timeline outlined in our previous update. Our Paris-based cosmetic branding expert has developed a compelling strategy to position this product as a premium offering in the anti-aging market. This strategy highlights GlycoProteMim's rejuvenating properties, which will set it apart in a crowded space. Backed by extensive testing and clinical data, we are confident that our GlycoProteMim serum will provide consumers with aging skin a breakthrough solution, delivering unmatched benefits without any observed adverse effects.
We have completed the serum formulation and are now undertaking the necessary regulatory steps to launch it on the market, including formulation stability and biocompatibility testing, patch testing, and clinical trials. Custom-designed containers have been finalized, and we are in the last stages of completing the packaging.
We are carefully assessing the most favorable markets for the initial launch to ensure long-term success. Our internal analysis, grounded in market data, suggests that a successful launch in just one key region could bring Sirona to profitability as early as 2025.
In parallel with our direct commercialization plans for GlycoProteMim active, our partnership efforts are advancing. We have engaged five consulting firms with expertise in key markets such as Japan, North America, Europe, and Latin America, and are expanding our reach into additional territories. We are in direct discussions with companies in India and Korea and are also building a team in China. Our strategy is to maximize shareholder value through multiple partnerships with established companies in the aesthetic space, while Sirona's direct product launch will serve as proof of GlycoProteMim's potential and source of near-term funding.
Financing
The Canadian small-cap market continues to face challenges, but we are seeing signs of improvement. We are in active discussions with investment funds to support our financial needs, and the approaching commercialization of our products has generated increased interest. We plan to provide a financing update shortly, in accordance with TSX Venture guidelines. Appropriate financing is essential to maintaining our momentum. While dilution concerns remain, we are confident that our plans will generate significant shareholder value, offsetting these concerns. Shareholder's continued support is crucial to our collective success, and we greatly appreciate your trust and confidence.
We continue to explore non-dilutive funding options in France and Canada, which remains our preferred approach whenever feasible.
Product Samples
Demand for product samples has surfaced earlier than expected, prompting us to adapt our plans. Interest in GlycoProteMim has surged, with key industry players eager to experience the product firsthand. Samples have already been shipped to several influential parties who have expressed strong interest.
Pipeline
Sirona Biochem is refining its focus on the cosmetic and therapeutic skincare sectors, where we see the greatest commercial potential. Our pipeline includes a range of projects, some of which are public, while others remain confidential for competitive and intellectual property reasons. Our French research facility is developing new generations of molecules to fuel future growth, with our scientific team leading the way in innovation and discovering promising new opportunities.
TFC-1067 Global License Agreement
Our commercial partner has recently informed us that they are actively progressing with the integration of TFC-1067 into their product lineup. We will keep our shareholders updated on any developments as allowed by our contractual agreements. We understand that shareholders are eager for more detailed updates, and we remain in close communication with our partner.
Summary
Sirona's management and scientific teams are excited about our upcoming milestones and are confident in the strong future we envision within the aesthetic skincare space. Thank you for your ongoing support as we continue to advance toward our goals.
Sincerely,
Sirona Biochem Management Team
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.
