VANCOUVER, Dec. 19, 2019 /CNW/ - Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) (OTC: SRBCF) ("Sirona") is pleased to provide the following update to shareholders.
Thank you for the ongoing support of Sirona. I am pleased to report that 2019 saw our company's market cap rise approximately 400%. With a share price of $0.085 in January to $0.42 in December of this year. We are continuing to work hard to continue to grow the company. We have a product going to commercialization with a multi-national skincare organization, a pharmaceutical doing well in clinical development and multiple ongoing discussions with organizations that are interested in partnerships. We are well funded to complete our objectives and remain committed to increasing shareholder value through 2020.
Rodan + Fields (R+F) are completing commercialization of their new skin brightening product. Timing of the product sales remains confidential; however, we will update shareholders as we are able. We are preparing an inventory of TFC-1067 with contract research organization, Roowin, for the anticipated orders of TFC-1067. The team has also committed to quarterly calls between the two companies in order to maintain momentum on the current project as well as discussion around other potential new ingredients being developed by Sirona. R+F remain highly interested in Sirona's pipeline of new cosmetic ingredients.
China manufacturing of TFC-1067 is in the stage of further process development with a large contract manufacturing company (CMO) that was identified by our board member, Mr. Jason Tian and our chemical engineer consultant, Mr. Pinqiao Zhao. We are very pleased with the work they have done to secure an excellent CMO for TFC-1067. Once the process development is completed and there is agreed pricing, we will have the necessary manufacturing established for our anticipated growing sales of TFC-1067.
As we reported, TFC-1067 is also nearing completion of the preparatory studies to enter clinical trial at a higher dose. We anticipate the study to begin in Q1 or very early Q2. We are making every effort to expedite this process and formulations of the new creams are being prepared now. Again, this does not affect our current relationship with R+F. We plan to continue adding to the existing commercial value of TFC-1067 by exploring the full consumer benefits. We plan to look at effects on dosing, different skin types and even on different skin conditions. We are confident we will expand licensing opportunities through 2020.
Our type 2 diabetes drug, TFC-039, is proceeding through clinical development at Wanbang Biopharmaceuticals. Our business development representative, Mr. D. Billings is working closely with the Wanbang team to ensure this project stays on track. To date, the compound has had no adverse events and is progressing ahead of schedule.
We are also in discussions for our diabetes drug to enter a new market in what is anticipated to be a major transaction for Sirona. We are unable to disclose details at this time due to competitive reasons. An enormous effort involving Sirona and two major corporations should result in a news release early in the new year.
We have had tremendous interest in our anti-wrinkle compound and are currently creating a new batch of product to begin the toxicology studies necessary for a clinical trial. We expect to have these results within the second half of 2020. Alongside these studies, we will be preparing the clinical efficacy study protocol and formulations so we can move immediately to testing.
And finally, we are working on establishing new relationships in China which will strengthen Sirona's capabilities and global presence. Formal partnerships are being discussed.
Our scientists in France are continually exploring new projects and we already have a number planned. Until we secure the intellectual property, we need to keep the details confidential. Our platform technology developed by Dr. Geraldine Deliencourt-Godefroy and her team of scientists at TFChem is becoming recognized as a proven commercial success. We are excited about Sirona's near term and long-term potential. In Q1 2020, we'll be launching a more active social media campaign as well as redesigning the web site to better represent our company and recent successes.
Again, we would like to thank all shareholders that have stood by Sirona and believe in our team and our science. Wishing you and yours the very best for the holiday season.
Dr. Howard Verrico, CEO
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.
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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.
SOURCE Sirona Biochem Corp.
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