VANCOUVER, BC--(Marketwired - April 23, 2014) - Sirona Biochem Corp. (TSX VENTURE: SBM) (OTCQX: SRBCF) (FRANKFURT: ZSB) is pleased to announce a collaboration with Magellan BioScience Group, Inc. The goal of the collaboration is to prioritize technologies discovered or identified by Magellan BioScience which require Sirona Biochem's expertise in stabilization for safe and effective commercial applications. Target markets for potential applications include pharmaceutical, cosmetic, and over the counter (OTC) consumer packaged goods.
"Securing partnerships like this one with Magellan BioScience is integral to Sirona's long term success," states Neil Belenkie, CEO of Sirona Biochem. "Access to world class libraries of technology present us with unending targets for innovative science. Our shared focus on the oceans as leading resources for discovery is a key component of this partnership."
"With Magellan BioScience's expertise in small molecule discovery, stabilization of an active lead is critical for any commercial development of a product. Our partnership with Sirona Biochem and their expertise in stabilization brings an added synergy that directly benefits our clients," asserts Dr. John Cronan, President and CEO of Magellan BioScience Group, Inc.
About Sirona Biochem
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 visit www.sironabiochem.com.
About Magellan BioScience
Magellan BioScience Group, Inc. is an innovative discovery company pursuing untapped sources of chemical diversity and identifying lead candidates derived from microorganisms for the development of new chemical entities. With more than two decades of experience, Magellan has developed numerous proprietary media for the culture of marine microbes.
Magellan was founded in 1997 with the mission to provide a new source of microbial extracts for drug discovery, agrochemical, cosmetic, food/flavor, animal health care, and specialty chemical research. Based in Tampa, Florida, we develop symbiotic collaborations with research companies and academic centers around the world, to capitalize on the diversity and novelty of our natural product compounds in screens against a wide variety of therapeutic targets. Visit www.magellanbioscience.com for more information.
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.
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.