VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 8, 2013) - Sirona Biochem Corp. (TSX VENTURE:SBM) (OTCQX:SRBCF) (ZSB.F) and Bloom Burton & Co. ("Bloom Burton") announce the signing of a Letter of Intent to conduct collaborative research to develop and commercialize new therapeutics in the areas of inflammation and infectious disease.
Leveraging Sirona's proprietary fluorination technology platform, Sirona and Bloom Burton will identify and design promising assets, undertake chemical synthesis and scale up, and conduct preclinical proof of concept studies necessary to support further development activities. The collaboration hopes to address rare or neglected inflammatory diseases and the threat of emerging bacterial resistance, both of which are markets with enormous medical need. Sirona and Bloom Burton will share in the future proceeds arising from the commercialization activities.
"Bloom Burton is Canada's leading healthcare-specialized investment banking group," said Neil Belenkie, CEO of Sirona Biochem. "We are proud to be developing a collaborative partnership, where our joint expertise will be combined to develop and transact cutting-edge industry solutions in areas with unmet needs."
"One of Bloom Burton's many advantages is that we see the widest range of opportunities spanning early to late stage assets, at private and public companies across all areas of healthcare," said Bloom Burton President, Brian Bloom. "Through this experience, we understand where needs exist in the marketplace and what investors are seeking. We believe Sirona has an excess of therapeutic opportunities than can be exploited by Sirona alone. We are excited to develop these assets in partnership with Sirona and monetize them at the appropriate time."
About Bloom Burton & Co.
Bloom Burton & Co. exists to accelerate monetization in healthcare. Bloom Burton has an experienced team of medical, scientific, pharmaceutical, legal and capital markets professionals who perform a deeper level of diligence, which combined with a creative and entrepreneurial culture, leads to the right monetizing events for companies and investors. Bloom Burton's many services include capital raising, mergers and acquisitions advisory, equity research, scientific and medical consulting, direct investing, company creation and incubation. For more information, please visit www.bloomburton.com.
About Sirona Biochem
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 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.