Sirona Biochem Receives Up-front Payment for Right of First Refusal Contract for Skin Lightener TFC-1067

VANCOUVER, Feb. 6, 2019 /CNW/ – Sirona Biochem Corp[1]. (TSX-V: SBM) (FSE: ZSB) (the “Company“) announces that it has signed a Right of First Refusal (ROFR) agreement with an industry-leading, skincare company to license Sirona’s skin lightener, TFC-1067. The company is a leader in North American skincare sales with rapidly growing international sales channels.

The skincare company has completed extensive due diligence on TFC-1067. This includes both the data package provided by Sirona as well as their independent research and analysis on the compound. This work is contributing to the goal of an international commercial launch of what we are proving will be both a safe and effective skin lightener in an industry where other compounds typically suffer from either poor efficacy or toxicity issues.

The ROFR agreement, which includes all territories except China, states that upon receipt of the clinical trial report from dermatologist Dr. Zoe Draelos, the company will have 30 days to review the data. At that time, the company will notify Sirona of their intent to conclude a licensing agreement. At their request, the company’s identity and the detailed agreement will remain confidential until a definitive agreement is executed.

Sirona has received an up-front payment for the acceptance of the ROFR.

“We are very pleased to have established this arrangement. A great deal of time and resources have been invested by both Sirona and the skincare company working on the advancement of TFC-1067 with the goal of an international commercial launch”, reports Dr. Howard Verrico, CEO of Sirona. “In order to protect the company and justify their ongoing efforts, the ROFR was a necessary step in advance of our clinical trial results, as these results are also greatly anticipated by other major skincare companies. This is an exciting time for Sirona’s team here in Canada as well as our scientific team in France and marks another milestone towards commercially launching a disruptive new skin lightening ingredient in this 20 Billion USD global skin lightening market1.”

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