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Sirona Biochem moving ahead with ambitious plans after filling its financial coffers
Wed 3:00 pm by Anwar Ali
Earlier this month, the Vancouver-based biotechnology firm announced it had raised nearly $1 million, which brings its total debt and equity financing to $2.4 million so far this year.
With a fresh round of financing at its disposal, Sirona Biochem (CVE: SBM) is poised to follow through with its strategy of pursuing patent opportunities, partners and joint ventures.
Earlier this month, the Vancouver-based biotechnology firm announced it had raised nearly $1 million, which brings its total debt and equity financing to $2.4 million so far this year.
Of the last $975,000 tranche, $375,000 was equity and the remainder was debt. The equity financing consisted of 3.75 million units priced at $0.10 per unit. Each unit is equivalent to one share as well as a warrant to purchase an additional share at $0.15 sometime over the next two years.
Last November, Sirona, which is involved with the development of therapeutics, cosmeceuticals and biological ingredients, decided to simplify its business model. Instead of pursuing the costly, lengthy, and frequently unpredictable route of clinical studies, Sirona says it will stick with patents based on compound development and pre-clinical studies and pass the torch when the time comes to go to trial, get regulatory approval and take products to market.
The company will only pursue drug development with a partner that can supply the technology and assume the bulk of the expenses. This will certainly help minimize research and development spending. As it stands, the company predicts it will burn through $160,000 on a monthly basis.
Sirona has ambitious plans for its laboratory in France’s Cosmetic Valley, an industry cluster where companies like L’Oreal and Chanel conduct their studies. Sirona plans to add 19 new staff members and triple the size of the facility. In December, it approached the French government for expansion approval.
Through its French subsidiary TFChem, Sirona is taking a two-fold approach: developing life-saving drugs and high-performance cosmetics. Research centres on carbohydrates, which have potent and wide-ranging applications, but tend to break down when exposed to enzymes, limiting their usefulness in the body as well as creating some harmful by-products.
The company is striving to stabilize the compound with its proprietary fluorination technique. Sirona chemists have found a way to infuse fluorine atoms into carbohydrate molecules and make their bond more resilient. This unleashes huge potential to not only find different therapeutic and cosmetic uses but also improve the compounds developed by other companies.
In late March, Sirona reached a milestone: its skin lightening compounds successfully passed industry safety standards. According to its market research, 15 per cent of the global population use skin lighteners. In the Asia-Pacific region alone, consumers spent $13 billion on related products.
Sirona is also involved with diabetes research, for which it sees a market worth $41 billion. In a pre-clinical study, Sirona's SGLT inhibitor outperformed Johnson and Johnson’s (NYSE:JNJ) drug, which already has FDA approval. Discussions are now underway with prospective partners, which would take the clinical and commercial reigns.
Sirona, with a market cap of around $7 million, was named to TSX Venture’s Top 50 in 2011.
Expect a deal in the coming months on the skin whitener...compnay is in talks with potential partners....
Sirona Biochem's Cosmetic Skin Lightening Compounds Proven Safe in Industry Standard Irritant Study
VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 02/12/13 -- Sirona Biochem Corp. (TSX VENTURE:SBM)(OTCQX:SRBCF)(FRANKFURT:ZSB) announced today its skin lightening compounds, TFC-849 and TFC-723, were proven to be safe in an ocular tolerability study. The ocular tolerability study is an industry standard test measuring irritant levels of compounds. In the study, TFC-849 and TFC-723 were shown to be non irritants. The study, funded through a $1.9 million French grant, is led by Sirona Biochem's subsidiary, TFChem, and involves a consortium of partners.
"We are in an enviable position with two skin lightening compounds that are proving to be both safe and highly effective," said Neil Belenkie, Chief Executive Officer of Sirona Biochem. "These latest results signify we are well on our way to producing active agents that can lead all other skin lightening compounds available on the market," he added.
An ocular irritant test was performed on corneal fibroblasts to evaluate the irritant potential of TFC-849 and TFC-723, in accordance with the regulatory methods of the European Centre for the Validation of Alternative Methods (ECVAM). In the study, TFC-849 and TFC-723 were incubated on cell culture at a concentration range of 0-50% (w/v) for one minute. Viability of the corneal fibroblasts was then assessed using the neutral red release method, which measures immediate toxic effects. After an exposure at the maximum dose of 50%, the cell survival showed that TFC-849 and TFC-723 were not ocular irritants.
About Sirona Biochem Corp.
Sirona Biochem is a biotechnology company developing diabetes therapeutics, skin depigmenting and anti-aging agents for cosmetic use, biological ingredients and cancer vaccine antigens. The company utilizes a proprietary chemistry technique to improve pharmaceutical properties of carbohydrate-based molecules. Sirona Biochem is the parent company of French-based biotechnology company, TFChem. For more information visit www.sironabiochem.com.
About the Project
Sirona Biochem's French subsidiary, TFChem received in November 2011 a $1.9-million grant. This project is co-financed by the European Union and Europe Witnesses in Haute-Normandie with the support of the European Regional Development Fund (E.R.D.F.). A consortium of partners - including the University of Rouen (LMSM EA4312), contract research organization Biogalenys, and TFChem - has been assembled to advance this project. The French government and European Union are looking to promote and initiate collaborative projects that are focused on the development of new products and services containing a high level of innovation.
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Sirona Biochem Corp.
Julie Jang
Director, Communications
604-282-6065
jjang@sironabiochem.com
www.sironabiochem.com
Source: Sirona Biochem Corp.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 4, 2013) - Cap-Ex Ventures Ltd. (TSX VENTURE:CEV)(OTCQX:CPXVF)(FRANKFURT:XOV) ("Cap-Ex" or the "Company") is pleased to announce the results of the initial independent National Instrument (NI) 43-101 Mineral Resource estimate on its wholly-owned Block 103 Property in Labrador, northeast of Schefferville. Watts, Griffis and McOuat Limited ("WGM"), Consulting Geologists and Engineers of Toronto, Ontario, estimated an Inferred resource of 7.2 billion tonnes at 29.2% total iron (18.9% magnetic iron). This resource estimate is based on a cut-off grade of 12.5% magnetic iron (magFe%).
"We are extremely excited with this initial resource estimate on a portion of Block 103 as we far exceeded our publically stated goals for this first resource," says Francois Laurin, President and CEO of Cap-Ex. "We have clearly demonstrated the long term potential of the project and look forward to continuing to develop it by releasing our Preliminary Economic Assessment later this quarter."
This Inferred resource covers an area with a strike length of approximately 4 kilometers (km) and a width of 2.5km. Based on the Magnetic Airborne survey previously completed, the Block 103 Property covers a strike length of approximately 12km. Mineralized zones are open towards the northwest and southeast and to depth.
Resource Estimate Details
The Mineral Resource estimate for the Block 103 Property is based on results from 81 diamond drillholes totaling 23,735 meters and is effective as of February 4, 2013. Mr. Michael Kociumbas, P.Geo., and Mr. Rick Risto, P.Geo., both with independent firm WGM, are Qualified Persons as defined by NI 43-101. WGM has visited the site, collected independent core samples and reviewed the QA/QC data received to date. Mr. Risto has reviewed and approved the underlying sampling, analytical and test data used for the estimate and Mr. Kociumbas is responsible for auditing the in-house Mineral Resource estimate as supplied by Cap-Ex and has approved the technical data contained in this news release. WGM is satisfied that the exploration and analytical programs carried out to-date by Cap-Ex follows Industry Best Practice Guidelines and that the database is appropriate for Mineral Resource estimation purposes. WGM is of the opinion that the iron mineralization delineated on the property will be amenable to open pit mining. The estimate is classified as an Inferred Mineral Resource, consistent with the CIM definitions referred to in NI 43-101.
This NI 43-101 compliant estimate will be filed in a Technical Report on SEDAR within 45 days of this news release. Mineral resources, which are not mineral reserves, do not have demonstrated economic viability. Cap-Ex is not aware of any environmental, permitting, legal, title, taxation, socio-political, marketing or other issues which may materially affect its estimate of Mineral Resources.
The geological and Mineral Resource modelling parameters consisted of:
-- 3-D wireframes created from the drillhole intersections on a cross
sectional interpretation combining assay intervals and major
lithological units.-- A block model procedure (block sizes of 30 m x 100 m x 10 m) was used
with grades interpolated utilizing an Inverse Distance estimation
technique (ID2); Total Iron (TFe%) and Iron in magnetite (magFe%) were
modelled.-- A density model was created based on a best fit regression line from
selected pycnometer data measurements based on TFe% grade, therefore
each block in the block model has a unique specific gravity.-- Inferred Mineral Resources are estimated for blocks with a maximum of
600 m along strike and a maximum of 400 m on the ends/edges and at depth
when supporting information from adjacent cross sections was available.-- A cut-off grade of 12.5% magFe was used for the purpose of reporting
this initial resource estimate. This cut-off grade was chosen based on
comparison with other similar taconite deposits in the Labrador Trough.
Complete assay results are posted on the Cap-Ex website at: http://www.cap-ex.ca/images/maps/2012Complete/2012_Composites_Complete.pdf.
Location maps and cross sections are posted on the Cap-Ex website at: http://www.cap-ex.ca/projects/block-103.
Split drill core samples were sent to independent contractors Acme Analytical Laboratories in Vancouver, BC and SGS Mineral Services in Lakefield, Ontario for analyses. Total iron analysis was performed using X-ray fluorescence (XRF) and the magnetic component was determined by Satmagan magnetic analysis and Davis Tube analysis on selected samples. Standards, blanks, and duplicate assays were included at regular intervals in each sample batch submitted from the field as part of an ongoing Quality Assurance/Quality Control program.
Cap-Ex's exploration work on the Block 103 Property is supervised by Edward Lyons, P.Geo., a consultant to the Company and a Qualified Person as defined by NI 43-101. Mr. Lyons has verified that the results used for the resource estimate were accurate from the official assay certificates provided to Cap-Ex.
About CAP-EX Ventures Ltd.
Cap-Ex Ventures Ltd. is a Canadian listed company, focused on the development of its Block 103 Iron Ore Property in the Labrador Trough, near the mining town of Schefferville, Quebec. The Block 103 Property is strategically located close to an existing railway, which can provide a direct link to a shipping port, and is adjacent to New Millennium Iron Corp-Tata Steel LabMag and KeMag deposits and the New Millennium-Tata oxide deposits to the east.
For additional information please visit the Company's website at www.cap-ex.ca.
CAP-EX VENTURES LTD.
Seems most of the baords on this site have died...surprised there isnt for buzz here with the RE possiblel coming out next next. Thats is the rumour anyways. 1billion+ tonnes at 30% is the expection, putting us in a league with ADV...
The chart is saying overbought but not by much and theres a bit more room to move...Cev should run nicely for a few weeks leading up the the PEA later this year. There will be red days but overall an uptrend.
BioPharm Insight – Sirona in active discussions to out-license preclinical SGLT-2 antidiabetic candidate – CEO
by Christine Livoti in New York
December 14, 2012
Sirona Biochem (TSX-V:SBM) is in active talks for the licensing of its preclinical antidiabetic candidate, SBM-TFC-039, in Asia and North America, said Neil Belenkie, CEO.
The company is open to both broad and regional deals for the drug, a sodium glucose transporter-2 (SGLT-2) inhibitor, Belenkie added. Parties with whom Sirona has had talks typically do not already have an SGLT-2 inhibitor in their pipeline, he noted.
Players with either approved or late-stage SGLT-2s include Bristol-Myers Squibb (NYSE:BMY), AstraZeneca (LON:AZN), Johnson & Johnson (NYSE:JNJ), Eli Lilly (NYSE:LLY), Boehringer Ingelheim, Astellas Pharma (TYO:4503), Chugai (TYO:4519), and Lexicon Pharmaceuticals (NASDAQ:LXRX).
Established diabetes players noticeably absent from the SGLT-2 space include Novo Nordisk (NOVOB:CPH), Sanofi (EPA:SAN), Merck (NYSE:MRK), and Takeda Pharmaceutical (TYO:4502).
Additionally, Belenkie said, there are conversations ongoing with one, if not two, large patent-holding organizations that see the SGLT-2 space as a significant opportunity and would like Sirona’s intellectual property (IP) around the compound to potentially subsequently re-license. Such parties would essentially broker the IP, he noted.
The company will advance the drug as far as is financially responsible, but has already proven the viability of the candidate in preclinical efficacy studies compared to J&J’s SGLT-2 canagliflozin, he said. This is where Sirona’s expertise stops, with a partner now necessary to come in, he said.
Sirona recently reported that SBM-TFC-039 significantly and rapidly reduces blood glucose levels at a dose of 1mg/kg. Six hours after administration, SBM-TFC-039 reduced blood glucose by 44% compared to canagliflozin at 26%. SBM-TFC-039 also had a longer duration of effect than canagliflozin. At 36 and 48 hours after treatment, SBM-TFC-039, at a dose of 1mg/kg, was still effective at reducing blood glucose, whereas canagliflozin lost its effect after 36 hours, according to a press release.
Sirona’s expertise is in preclinical chemistry, but where further preclinical work is required, the company typically looks to partner with academic institutions rather than a contract research organization, Belenkie said. Sirona does engage contract manufacturing organizations when scaling up production, however, Sirona is not currently looking for additional CMOs, he said.
Sirona has a market cap of CAD 6.4m (USD 6.5m).
iSIGN Media Announce an Exclusive Distribution Agreement with GraphicMedia and LOI with Keyser Industries
(via Thenewswire.ca)
Toronto, Ontario - November 27, 2012 - iSIGN Media Solutions Inc. ("iSIGN" or "Company") (TSX-V: ISD) (OTCQX: ISDSF), a leading provider of interactive mobile advertising solutions that serves advertisers, manufacturers, retailers and advertising agencies throughout North America and GraphicMedia, Inc. ("Graphic"), are pleased to announce the signing of an exclusive distribution agreement (the "Agreement").
Graphic is appointed as iSIGN's exclusive distributor throughout North, Central and South America and in any other global locations arising from the needs of their customers through existing reseller agreements. The Agreement is for a five year period subject to minimum performance/revenue, renewable for an additional five years.
Graphic has been working with iSIGN and is in negotiations with several major end users for iSIGN's Smart Antennas and related software. As part of the Agreement, Graphic has signed an initial purchase order for $3 million, representing 6,000 Smart Antennas to be delivered within the next six months.
Concurrently, and in cooperation with Graphic, iSIGN has signed an LOI with the Keyser Industries ("Keyser") for exclusive rights to the installation and deployment of iSIGN's Smart Antenna hardware and Interactive Marketing Solution Software. A definitive agreement is expected to be completed within the next three (3) weeks.
"Graphic has quickly grasped that our system is more than a delivery channel for ads and messaging and that the true strength of our software and Smart Antenna is in the brand, shopper and consumer information that our system gathers and delivers," stated Alex Romanov, iSIGN's Chief Executive Officer. "Our software and backend reporting system allows for the gathering, processing and organizing of vast amounts of data and turns this into useful Business Intelligence tools for advertisers and retailers."
"We have been in the printing and signage industry for over twenty years and we see the efficiencies that proximity messaging gives clients and the almost instant real-time metrics that customers can use to increase their ROI," stated Mr. Ron Leman, President and Chief Executive Officer of GraphicMedia, Inc. "We believe that iSIGN's product is a game changer for retailers and advertisers. From our presentations, we see the interest that iSIGN's Smart Antenna is generating and we know that it is growing, which motivates our desire to become more closely aligned with iSIGN."
About iSIGN Media
iSIGN Media is a North American leader in multiplatform advertising solutions that utilize Bluetooth, Mobile, WiFi and Location-Aware technologies to deliver rich media, permission-based messages to engage consumers more deeply and cost-effectively. The resulting business intelligence and real time metrics, gathered through iSIGN's patent-pending advertising platform, deliver insights into emerging consumer behaviors that help advertisers measure their efforts and make better business decisions to increase ROI and customer loyalty. Headquartered in Richmond Hill, Ontario, with R&D and customer support operations in Vancouver, BC and Tampa, FL, the Company has also grown to become the largest owner/operator of in-store digital media in Canada with 5,600 digital signs in 1,400 locations. Partners include: AOpen America Inc. and IBM, with solution distribution by BlueStar Inc. Additional information can be found at www.isignmedia.com.
About GraphicMedia
GraphicMedia, Inc. has a rich history of providing our Regional and National Clients with innovative marketing services, advertising graphics, and advertising sign services. Our most recent expansion (in 2011) has been in LED advertising display signs. Our Led sign clients range from large convenient store chains, furniture stores, and banks. GraphicMedia intends to integrate i sign technology into its marketing portfolio of products and services. Giving our client's an advantage over their competition. Additional information can be found at www.graphicmedia.us.
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Forward-Looking Statements
This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with iSIGN Media's business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect iSIGN Media's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. iSIGN Media assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.
(C) 2012 iSIGN Media Solutions Inc. All Rights Reserved. All other trademarks and trade names are the property of their respective owners.
Press contact:
GraphicMedia, Inc.
Ron Leman, President and Chief Executive Officer
260.824.2550
rleman@graphicmedia.us
Alex Romanov
iSIGN Media
alex@isignmedia.com
Belinda RooneyVanessa Harwell
SSPRThinkInk Communications LLP
609 750 9110 305 749 5342, extension 232
brooney@sspr.com vanessa@thinkinkpr.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility or accuracy of this release.
Copyright (c) 2012 Thenewswire.ca - All rights reserved.