Vancouver, Canada, September 18, 2019. Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) (US-OTC: SRBCF) (“Sirona”) is excited to announce that it has completed a definitive agreement with Rodan + Fields, LLC (“Rodan + Fields”), the leading skin care brand in the United States[i], for the licensing and commercial sales of novel ingredient TFC-1067 to brighten and even skin tone. Rodan and Fields will be the first to market for a consumer product utilizing TFC-1067 in certain countries including United States.
Under the terms of the agreement, Sirona will receive an upfront and milestone payments as well as on-going revenue in return for the manufacture and supply of TFC-1067, a novel, new skin brightening ingredient, for use by Rodan + Fields on a non-exclusive basis and Rodan + Fields will launch a new product incorporating the ingredient. Further details of this agreement will remain confidential for strategic reasons. Both Sirona and Rodan + Fields look forward to a mutually beneficial long-term relationship.
“Sirona’s board concluded that working on a non-exclusive basis will enable us to advance, in parallel, on multiple global partnerships. We are therefore continuing active partnering discussions regarding TFC-1067. Ultimately, we will achieve maximum commercial value by penetrating the numerous sales channels and territories available. This will enable us to capture a larger portion of the global skin lightening market with TFC-1067”, reports Dr. Howard Verrico, CEO of Sirona Biochem.
The agreement also establishes regular meetings between Sirona’s and Rodan + Field’s scientists to explore future collaborations on new consumer products. This brings together the full spectrum of expertise to take early stage concept through to an innovative formulated product worthy of the Rodan + Fields skin care philosophy.
Contract Research Organization (CRO) Roowin (www.roowin.com) has developed a chemical process required for large scale manufacturing of TFC-1067 and has now been instructed by Sirona to begin manufacturing to fill anticipated orders for the product launch.
“The commercial validation of our platform technology represents a major milestone for Sirona’s team. This agreement marks a first step in the introduction of TFC-1067 into key markets and the launch of TFC-1067 into the global market”, added Dr. Verrico. “We have worked through extensive due diligence and built a good relationship with Rodan + Fields. We are very pleased to be working with the number one skincare brand in the U.S.[ii] for the launch of our innovative and superior skin brightening compound, TFC-1067. Moreover, we are looking forward to update our shareholders about our progress in China in due course.”
“As a company committed to innovation, Rodan + Fields continually seeks out novel and ground-breaking technologies. We’re excited to partner with Sirona to commercialize this highly novel new molecule in an up-and-coming product release and deliver the well-validated benefits to our consumer base”, said Dr. Simon Craw, Senior Director R&D Business Development at Rodan + Fields. “Developing long-term strategic relationships with biotech companies is part of Rodan + Fields’ DNA, and in Sirona we see an innovation-focused company we can work closely with over the next several years”, Dr Craw continued.
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.
For more information regarding this press release, please contact:
Dr. Howard Verrico
CEO, Chairman of the Board
Sirona Biochem Corp.
Corporate Communications + PR
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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.
[i] Source Euromonitor International Limited; Beauty and Personal Care 2019 Edition, retail value RSP terms; all channels, Skincare includes Sets & Kits
[ii] Source Euromonitor International Limited; Beauty and Personal Care 2019 Edition, retail value RSP terms; all channels, Skincare includes Sets & Kits
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