VANCOUVER, June 19, 2019 /CNW/ - Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) (OTC: SRBCF) ("Sirona") is pleased to announce that a non-binding term sheet has been signed with Rodan + Fields, LLC (Rodan + Fields) for the commercial sales of novel ingredient TFC-1067. This term sheet covers all material terms and conditions of a definitive agreement with San Francisco-based, industry leading, Rodan + Fields. The definitive agreement is expected to be signed in Q3/2019.
The term sheet stipulates Sirona will become a manufacturer and supplier of TFC-1067 for use by Rodan + Fields on a non-exclusive basis in its current markets (USA, Canada and Australia) as well as future regions. Sirona has initiated preparations for manufacturing TFC-1067 to be in place near term for anticipated product launches. In addition to revenue from the sale of TFC-1067, a fee will be paid by Rodan + Fields on signing of the definitive agreement followed by milestone fees paid for each product launched by Rodan + Fields that incorporates Sirona's innovative skin lightening agent TFC-1067.
The term sheet incorporates establishing regular formal meetings between Sirona's scientists at TFChem and the scientists at the research department of Rodan + Fields. Future commercial opportunities based on the platform technology of Sirona Biochem will be explored. This term sheet is the result of extensive due diligence by Rodan + Fields spanning more than one year. This agreement is fitting for both Rodan + Fields and Sirona because of a mutual desire to deliver premium consumer products that are safe and effective.
Founded by Stanford-trained dermatologists, Dr. Katie Rodan and Dr. Kathy Fields, Rodan + Fields was launched with the mission of giving consumers the best skin of their lives and bring dermatology-inspired skincare to everyone. With clinic-quality skincare Regimens and a powerful community of Independent Consultants, Rodan + Fields is the leading skincare brand in the United States and one of the fastest growing industry disruptors in beauty.
Rodan + Fields has been ranked the number one skincare brand in the U.S.1 and North America2 in 2018 by Euromonitor International Ltd. ("Euromonitor"), which publishes the world's most comprehensive market research on the skincare industry. Rodan + Fields has received several other accolades from Euromonitor, including the number one premium acne brand in the US and Canada3 and number one premium body care brand in North America in 20184.
"After many years of developing TFC-1067 with the support of the French government and European Union in the Cosmetic Valley, France, we are excited to partner with skincare industry leader Rodan + Fields", reports Dr. Howard Verrico CEO of Sirona Biochem. "This marks an important milestone for Sirona Biochem. We highly value the successful due diligence of Rodan + Fields as further validation of our technology platform, in particular TFC-1067."
"We are committed to providing our Consultant community and their consumers with products that feature cutting-edge technology that provide visible results. After an extensive search, we are pleased to partner with Sirona to leverage their new brightening agent in our products. With clinically proven effectiveness and an excellent safety profile, TFC-1067 will enable our products to improve the appearance of skin dullness, discoloration and uneven skin tone for a younger looking complexion. We look forward to leveraging this excellent new ingredient in future product lines and working together to bring more of our lifechanging skincare products to the market," said Simon Craw, Senior Director R&D Business Development at Rodan + Fields.
1Source Euromonitor International Limited; Beauty and Personal Care 2019 Edition, retail value RSP terms; all channels, Skincare includes Sets & Kits.
2Source Euromonitor International Limited; Beauty and Personal Care 2019 Edition, retail value RSP terms; all channels, Skin Care includes Sets and Kits; North America defined as Canada and the United States.
3Source Euromonitor International Limited; Beauty and Personal Care 2019 Edition, retail value RSP terms; all channels; Premium Acne Treatments including Acne Treatments sold as part of Sets and Kits.
4Source Euromonitor International Limited; Beauty and Personal Care 2019 Edition, retail value RSP terms; all channels, Premium Body Care includes Sets and Kits.
About Rodan + Fields
Founded by Stanford-trained dermatologists Dr. Katie Rodan and Dr. Kathy Fields, Rodan + Fields was launched in 2002 with the mission of giving consumers the best skin of their lives. The brand is a result of the Doctors' belief that healthy skin empowers people to feel confident. Born in the digital era and designed to directly reach consumers where they live and shop via mobile and social networks, Rodan + Fields is disrupting the industry with its regimen-based skincare and powerful Independent Consultant community.
For more information, please visit www.rodanandfields.com.
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.
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.
For further information: regarding this press release, please contact: Investor Enquiries: Jonathan Williams, Managing Director, Momentum PR, Phone: 1.450.332.6939, Email: [email protected]; Corporate Enquiries: Dr. Howard Verrico, CEO, Chairman of the Board, Sirona Biochem Corp., Phone: 1.604.641.4466, Email: [email protected], Rodan+ Fields: Corporate Communications + PR, Email: [email protected]