VANCOUVER, June 19, 2019 /CNW/ - Sirona Biochem Corp.
(TSX-V: SBM) (FSE: ZSB) (OTC: SRBCF) ("Sirona") is
pleased to announce that a non-binding term sheet has been signed
with Rodan + Fields, LLC (Rodan + Fields) for the commercial sales
of novel ingredient TFC-1067. This term sheet covers
all material terms and conditions of a definitive
agreement with San
Francisco-based, industry leading, Rodan + Fields. The
definitive agreement is expected to be signed in Q3/2019.
The term sheet stipulates Sirona will become a manufacturer and
supplier of TFC-1067 for use by Rodan + Fields on a
non-exclusive basis in its current markets (USA, Canada
and Australia) as well as future
regions. Sirona has initiated preparations for manufacturing
TFC-1067 to be in place near term for anticipated product launches.
In addition to revenue from the sale of TFC-1067, a fee will be
paid by Rodan + Fields on signing of the definitive agreement
followed by milestone fees paid for each product launched by Rodan
+ Fields that incorporates Sirona's innovative skin lightening
agent TFC-1067.
The term sheet incorporates establishing regular formal meetings
between Sirona's scientists at TFChem and the scientists at the
research department of Rodan + Fields. Future commercial
opportunities based on the platform technology of Sirona Biochem
will be explored. This term sheet is the result of extensive due
diligence by Rodan + Fields spanning more than one year. This
agreement is fitting for both Rodan + Fields and Sirona
because of a mutual desire to deliver premium consumer products
that are safe and effective.
Founded by Stanford-trained
dermatologists, Dr. Katie Rodan and
Dr. Kathy Fields, Rodan + Fields was
launched with the mission of giving consumers the best skin of
their lives and bring dermatology-inspired skincare to everyone.
With clinic-quality skincare Regimens and a powerful community of
Independent Consultants, Rodan + Fields is the leading skincare
brand in the United States and one
of the fastest growing industry disruptors in beauty.
Rodan + Fields has been ranked the number one skincare brand in
the U.S.1 and North
America2 in 2018 by Euromonitor International
Ltd. ("Euromonitor"), which publishes the world's most
comprehensive market research on the skincare industry. Rodan +
Fields has received several other accolades from Euromonitor,
including the number one premium acne brand in the US and
Canada3 and number one
premium body care brand in North
America in 20184.
"After many years of developing TFC-1067 with the support of the
French government and European Union in the Cosmetic Valley,
France, we are excited to partner
with skincare industry leader Rodan + Fields", reports Dr. Howard
Verrico CEO of Sirona Biochem. "This marks an important milestone
for Sirona Biochem. We highly value the successful due diligence of
Rodan + Fields as further validation of our technology platform, in
particular TFC-1067."
"We are committed to providing our Consultant community and
their consumers with products that feature cutting-edge technology
that provide visible results. After an extensive search, we are
pleased to partner with Sirona to leverage their new brightening
agent in our products. With clinically proven effectiveness and an
excellent safety profile, TFC-1067 will enable our products
to improve the appearance of skin dullness, discoloration and
uneven skin tone for a younger looking complexion. We look forward
to leveraging this excellent new ingredient in future product lines
and working together to bring more of our lifechanging skincare
products to the market," said Simon
Craw, Senior Director R&D Business Development at Rodan
+ Fields.
1Source
Euromonitor International Limited; Beauty and Personal Care 2019
Edition, retail value RSP terms; all channels, Skincare includes
Sets & Kits.
|
2Source
Euromonitor International Limited; Beauty and Personal Care 2019
Edition, retail value RSP terms; all channels, Skin Care includes
Sets and Kits; North America defined as Canada and the United
States.
|
3Source
Euromonitor International Limited; Beauty and Personal Care 2019
Edition, retail value RSP terms; all channels; Premium Acne
Treatments including Acne Treatments sold as part of Sets and
Kits.
|
4Source
Euromonitor International Limited; Beauty and Personal Care 2019
Edition, retail value RSP terms; all channels, Premium Body Care
includes Sets and Kits.
|
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.
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.
SOURCE Sirona Biochem Corp.