VANCOUVER, Oct. 9, 2019 /CNW/ - Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) (US-OTC: SRBCF) ("Sirona") announces that it has completed a binding term sheet with Tinyi Trading Company ("Tinyi") for the distribution of its skin lightener TFC-1067 following strong commercial interest after clinical trial results. Tinyi will have distribution rights within Asia as well as exclusive rights for China.
Tinyi, founded in 2006, is a well-established cosmetic ingredient distributor headquartered in Guangzhou, the cosmetic valley in China. Tinyi has extensive experience operating in the cosmetic market and relationships with numerous key cosmetic companies. These relationships are necessary to capitalize on the enormous opportunity to commercialize TFC-1067 within Asia. Tinyi will also assist Sirona in navigating the regulatory requirements and all necessary steps towards commercialization, including formulation and marketing. Sirona will remain responsible for the manufacture of TFC-1067. Finalizing the cost of local manufacturing will provide necessary information to complete the definitive agreement with Tinyi which is anticipated to be completed in Q1/2020.
Tinyi was responsible for the clinical testing of TFC-1067 completed by a select group of its key cosmetic customers. The formulation used in the studies was the same as that used in Sirona's first clinical trial in the USA by Dr. Zoe Draelos. The clinical trial design protocols and testing was conducted independently of Sirona by the cosmetic companies in Guangzhou, China.
A total of 60 participants were involved in the studies conducted over several sites. All participants applied the formulation with TFC-1067 twice daily for 4 weeks. At the completion of the 4-week study, 90% of participants reported a brightening effect. A second set of trials with Sirona's improved formulation was also done which further demonstrated positive results and created a growing interest in using TFC-1067 in product lines.
TFC-1067 is a clinically proven safe and effective treatment to lighten areas of skin with increased pigmentation called dyschromia. The global skin lightening market is estimated to grow to US$31.2 billion by 20241. Asia makes up the largest and fastest growing segment of the market. A World Health Organization survey reported that nearly 40% of women polled in China said they regularly use whitening products, many of which are toxic2.
"We are excited to begin the process of entering the Asian market with Sirona's clinically proven and safe skin lightener TFC-1067. Although there is still work ahead before commercial launch, we have established a clear path forward," reports Dr. Howard Verrico, CEO of Sirona Biochem. "We are pleased to extend our presence within the Peoples Republic of China beyond our successful relationship with Wanbang Biopharmaceuticals for our diabetic drug TFC-039. We are steadily moving towards launching TFC-1067 in other territories in Asia in what is a global opportunity."
About Tinyi Trading Company
Tinyi Trading Company, incorporated in 2006, has been primarily engaged in personal care industries, importing and distributing foreign raw materials for personal care, and providing various "beautiful solutions" in Asian markets. Its product portfolio covers emulgators, thickening stabilizers, emollients, surfactants, sun screening agents, preservatives, essence, and various active compounds. With over a decade of business in the industry, Tinyi has always endeavored to provide quick and efficient services, establishing itself as one of best distributors in the industry. Tinyi has a strong active sales and customer service team and has its own advanced R&D center including a 2,000 sqm warehouse located in Guangzhou, China.
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 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.
For further information: Investor Enquiries: Jonathan Williams, Managing Director, Momentum PR, Phone: 1.450.332.6939, Email: email@example.com; Corporate Enquiries: Dr. Howard Verrico, CEO, Chairman of the Board, Sirona Biochem Corp., Phone: 1.604.641.4466, Email: firstname.lastname@example.org