|By Marketwired .||
|July 21, 2014 10:26 AM EDT||
VANCOUVER, BC--(Marketwired - July 21, 2014) - Sirona Biochem Corp. (TSX VENTURE: SBM) (OTCQX: SRBCF) (FRANKFURT: ZSB) today provided a business update.
Dear Shareholders and Investors,
As announced in our recent news release, I, Howard Verrico, have stepped in as CEO of Sirona Biochem. Although this change is significant, I have always maintained an active role in Sirona's operations throughout its history making this an efficient transition. I can assure you we are moving along on all initiatives as planned. As founder, Chairman of the Board and a major shareholder I will personally ensure the responsibilities and deliverables of CEO are achieved. Under supervision of Sirona's Board, the search, selection and appointment of a new executive management team member will occur as a priority task.
In February 2014, we announced the completion of a $1.2M private placement. The original plan was to follow this up with a US led investment of approximately $4 million. This initiative was abandoned since terms did not meet our vision for the direction of our company. The management of the company was and is unwilling to settle for terms that we feel create risk to the current shareholder value.
We anticipate minimal financing needs over the next twelve to eighteen months. To avoid unnecessary dilution, we will continue to apply for government grants and loans where applicable rather than pursue an equity raise. Moreover, we are expecting further substantial milestone payments as well as initial royalty payments.
Our current institutional investors remain very supportive of our future growth strategy. We have recently been encouraged by strong interest from European investors which could bode very well for us going forward. In addition to that, we plan to further increase market awareness for Sirona in the next several months.
Sirona Biochem remains committed to a streamlined business strategy of chemistry, patent and license.
Our expertise remains in creating new chemical compounds (pharmaceutical and cosmetic) that have distinct advantages over existing technologies. Each compound that we create will be licensed to an industry-leading company who will be responsible for developing, manufacturing and selling the compound. In return, Sirona will receive licensing fees, milestone payments and ongoing royalty payments.
Through our platform technology, we have been able to diversify our risk across multiple projects, increase our portfolio size more quickly and continue to build our credibility and reputation as experts in the discovery of innovative therapeutics.
The Board of Directors is taking an increasingly active role in refining the company strategy and how it is implemented. Our Board has a diverse and valuable skill set which we are utilizing to the fullest extent.
In March, we bolstered our France team with the addition of Claude Nivet. Claude's official title is Laboratory Manager. This role was developed specifically to assist in growing operations and relieving our Chief Scientific Officer, Geraldine Deliencourt-Godefroy, of some of her non-scientific tasks. This will allow her to focus on innovation and management of the current pipeline.
Our current R&D focus is on the following:
- Assist Obagi/Valeant in the manufacturing and monetization of our skin lightener. Obagi/Valeant will be responsible for the formulation and sales of the compound;
- Develop the anti-aging library of compounds in anticipation of government funding and commencement of pre-clinical studies;
- Synthesize the anti-inflammatory compound for our Bloom Burton partnership.
As projects progress and resources become available, we will explore new areas where our technology will add significant value.
Current Business Development:
- At the end of April 2014, Wanbang Biopharmaceuticals began pre-clinical validation for Sirona Biochem's second generation SGLT2 Inhibitor. To date, Sirona has received Wanbang's initial licensing fee and the Chinese government's innovation tax application has been approved. Wanbang has successfully hired an expert in pharmacology and toxicity to lead the project and compound synthesis has begun to ensure quantities of the compound will be available for all future clinical trials. Further updates from Wanbang will become available shortly.
- Obagi Medical Products is moving forward on Sirona Biochem's skin lightening compound TFC-849. Obagi Medical Products is responsible for all development, manufacturing and sales of the compound and in return Sirona Biochem will receive licensing and milestone fees and ongoing royalty payments.
- Our Joint Venture with Bloom Burton and Co. is progressing nicely. Once the first compound is synthesized, it will enter early stage testing. Bloom Burton is Canada's largest and most active healthcare-specialized investment banking firm. The goal of this joint venture is to conduct collaborative research to develop and commercialize new therapeutics in the areas of inflammation and infectious disease.
- Sirona's Chief Scientific Officer recently attended industry meetings in New York City. The meetings were very successful and have generated multiple potential partnerships. We will provide updates regarding these opportunities on the next shareholder letter. Although we have a number of significant partnering initiatives fully executed and underway, we are continuing to explore new partnership opportunities and currently have multiple ongoing conversations with large Pharma and cosmetic companies around the world.
Our goal has always been for Sirona Biochem to become the global leader in the process of compound stabilization which leads to unlimited applications in pharmaceuticals and cosmetics. The value of Sirona Biochem lies in its technology and we intend to put our resources behind this. At the end of the day, our common goal is to create shareholder value which is exactly what we work to accomplish every single day. Sirona is well positioned to take advantage of some of the major opportunities that are available to us and we are working diligently to take our company to the next level.
I sincerely appreciate the past support of our shareholders and ask for your future support as we move forward.
Dr. Howard Verrico
CEO, Chairman of the Board
About Sirona Biochem Corp.
Sirona Biochem is not a traditional biotech company. Sirona is a product-pipeline 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 being developed for both pharmaceutical and cosmetic marketplaces and 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 please visit www.sironabiochem.com.
For more information regarding this press release, contact:
Sirona Biochem Corp.
Email: [email protected]
Hardware will never be more valuable than on the day it hits your loading dock. Each day new servers are not deployed to production the business is losing money. While Moore's Law is typically cited to explain the exponential density growth of chips, a critical consequence of this is rapid depreciation of servers. The hardware for clustered systems (e.g., Hadoop, OpenStack) tends to be significant capital expenses. In his session at Big Data Expo, Mason Katz, CTO and co-founder of StackIQ, disc...
Jan. 25, 2015 02:00 PM EST Reads: 2,789
SYS-CON Media announced that Splunk, a provider of the leading software platform for real-time Operational Intelligence, has launched an ad campaign on Big Data Journal. Splunk software and cloud services enable organizations to search, monitor, analyze and visualize machine-generated big data coming from websites, applications, servers, networks, sensors and mobile devices. The ads focus on delivering ROI - how improved uptime delivered $6M in annual ROI, improving customer operations by minin...
Jan. 25, 2015 02:00 PM EST Reads: 3,379
"We are the top stocking distributor for HP renew products in North America. We can only sell to U.S. authorized partners and resellers for HP," explained Miguel Diazdelcastillo Jr., Sales Executive at Creative Business Solutions, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 25, 2015 02:00 PM EST Reads: 2,021
Puppet Labs on Wednesday released the DevOps Salary Report, based on salary data gathered from Puppet Labs' industry-recognized State of DevOps Report. The data confirms that market demand for DevOps skills is growing, and that DevOps engineers are among the highest paid IT practitioners today. That's because IT organizations today are grappling with how to be more agile and responsive to the business, while maintaining the stability of their infrastructure. DevOps practices, such as continuous ...
Jan. 25, 2015 02:00 PM EST Reads: 1,089
Software Defined Storage provides many benefits for customers including agility, flexibility, faster adoption of new technology and cost effectiveness. However, for IT organizations it can be challenging and complex to build your Enterprise Grade Storage from software. In his session at Cloud Expo, Paul Turner, CMO at Cloudian, looked at the new Original Design Manufacturer (ODM) market and how it is changing the storage world. Now Software Defined Storage companies can build Enterprise grade ...
Jan. 25, 2015 02:00 PM EST Reads: 2,035
AppDynamics, the application intelligence leader for software-defined businesses, announced the general availability of the AppDynamics Fall '14 Release. Serving the combined needs of IT and business teams across the enterprise, the latest release provides a comprehensive view across all aspects of digital performance in ultra large scale deployments. AppDynamics delivers Application Intelligence by building out advanced capabilities across the key areas of analytics, unified monitoring and D...
Jan. 25, 2015 02:00 PM EST Reads: 1,604
IBM and Docker, Inc. have announced a strategic partnership that enables enterprises to more efficiently, quickly and cost effectively build and run the next generation of applications on the IBM Cloud and on prem via the Docker open platform for distributed applications. Enterprises can use the combination of IBM and Docker to create and manage a new generation of portable distributed applications that are rapidly composed of discrete interoperable Docker containers, have a dynamic lifecycle, a...
Jan. 25, 2015 02:00 PM EST Reads: 2,011
Companies today struggle to manage the types and volume of data their customers and employees generate and use every day. With billions of requests daily, operational consistency can be elusive. In his session at Big Data Expo, Dave McCrory, CTO at Basho Technologies, will explore how a distributed systems solution, such as NoSQL, can give organizations the consistency and availability necessary to succeed with on-demand data, offering high availability at massive scale.
Jan. 25, 2015 01:45 PM EST Reads: 1,376
The cloud is becoming the de-facto way for enterprises to leverage common infrastructure while innovating and one of the biggest obstacles facing public cloud computing is security. In his session at 15th Cloud Expo, Jeff Aliber, a global marketing executive at Verizon, discussed how the best place for web security is in the cloud. Benefits include: Functions as the first layer of defense Easy operation –CNAME change Implement an integrated solution Best architecture for addressing network-l...
Jan. 25, 2015 01:30 PM EST Reads: 1,858
Vormetric on Wednesday announced the results of its 2015 Insider Threat Report (ITR), conducted online on their behalf by Harris Poll and in conjunction with analyst firm Ovum in fall 2014 among 818 IT decision makers in various countries, including 408 in the United States. The report details striking findings around how U.S. and international enterprises perceive security threats, the types of employees considered most dangerous, environments at the greatest risk for data loss and the steps or...
Jan. 25, 2015 01:30 PM EST Reads: 1,396
CodeFutures has announced Dan Lynn as its new CEO. Lynn assumes the role from Founder Cory Isaacson, who has joined RMS and will now serve as chairman of CodeFutures. Lynn brings more than 14 years of advanced technology and business success experience, and will help CodeFutures build on its industry leadership around its Agile Big Data initiatives. His technical expertise will be invaluable in advancing CodeFutures’ AgilData platform and new processes for streamlining and gaining value from gro...
Jan. 25, 2015 01:00 PM EST Reads: 1,348
In this scenarios approach Joe Thykattil, Technology Architect & Sales at TimeWarner / Navisite, presented examples that will allow business-savvy professionals to make informed decisions based on a sound business model. This model covered the technology options in detail as well as a financial analysis. The TCO (Total Cost of Ownership) and ROI (Return on Investment) demonstrated how to start, develop and formulate a business case that will allow both small and large scale projects to achieve...
Jan. 25, 2015 01:00 PM EST Reads: 1,702
IBM has announced a new strategic technology services agreement with Anthem, Inc., a health benefits company in the U.S. IBM has been selected to provide operational services for Anthem's mainframe and data center server and storage infrastructure for the next five years. Among the benefits of the relationship, Anthem has the ability to leverage IBM Cloud solutions that will help increase the ease, availability and speed of adding infrastructure to support new business requirements.
Jan. 25, 2015 01:00 PM EST Reads: 1,103
Almost everyone sees the potential of Internet of Things but how can businesses truly unlock that potential. The key will be in the ability to discover business insight in the midst of an ocean of Big Data generated from billions of embedded devices via Systems of Discover. Businesses will also need to ensure that they can sustain that insight by leveraging the cloud for global reach, scale and elasticity.
Jan. 25, 2015 01:00 PM EST Reads: 3,731
SYS-CON Media announced that Cisco, a worldwide leader in IT that helps companies seize the opportunities of tomorrow, has launched a new ad campaign in Cloud Computing Journal. The ad campaign, a webcast titled 'Is Your Data Center Ready for the Application Economy?', focuses on the latest data center networking technologies, including SDN or ACI, and how customers are using SDN and ACI in their organizations to achieve business agility. The Cisco webcast is available on-demand.
Jan. 25, 2015 12:00 PM EST Reads: 1,115