VANCOUVER, British Columbia, April 22, 2025 (GLOBE NEWSWIRE) -- Sirona Biochem Corp. (TSX-V: SBM)(FSE: ZSB) (OTC: SRBCF) (“Sirona”), a biotechnology company specializing cosmetic ingredients and new drug discoveries, is pleased to announce the successful execution of a strategic investment agreement with Promura GmbH, a German-based investor. The agreement includes the private placement of $3 million CAD in unsecured, 12% convertible debentures, by Promura GmbH.
In addition to the convertible loan, Sirona and Promura have signed a Letter of Intent (LOI) outlining the formation of Sirona Laboratories, a new, jointly operated subsidiary focused on dermatological and cosmetic innovation. Sirona Laboratories will be established in Luxembourg and will be responsible for the exclusive distribution of anti-aging products based on the TFC-1326 active ingredient.
Promura has expressed its intention to invest up to $12 million CAD into Sirona Labs, contingent on the completion of certain due diligence procedures and the fulfillment of specific conditions. As part of the partnership, Promura will also provide experienced personnel to manage operations, drawing on extensive industry expertise in cosmetics and dermaceuticals.
This commitment signals a significant step forward in the company’s growth and development.
“We are thrilled to partner with Promura GmbH and are excited about the strong foundation this investment provides for Sirona’s future and the establishment of a subsidiary, Sirona Laboratories. The additional investment, pending due diligence, will further strengthen our position in the market and help us accelerate the commercialization of our anti-aging product line. This partnership enables us to move forward with our plans to market our innovative anti-aging treatments, an area we believe holds immense potential for growth and impact in the health and wellness industry,” said Dr. Howard Verrico, CEO of Sirona Biochem.
Proceeds from the initial private placement will be allocated toward general working capital, ongoing research and development, and the commercialization of Sirona’s proprietary anti-aging product line. Funds will also be used to complete the company’s overdue audited financial statements and annual Management’s Discussion and Analysis, addressing the cease trade order issued by the British Columbia Securities Commission on March 6, 2025. These initiatives reflect Sirona’s continued commitment to advancing innovative therapeutics that redefine the cosmeceutical and treatment landscape. The financing is expected to close within 60 days. In the interim, Sirona intends to announce a smaller bridge financing to support these same objectives. Sirona Biochem is committed to delivering innovative solutions to address critical unmet needs in the healthcare industry, and this partnership marks an important milestone in its ongoing efforts to drive shareholder value and bring life-changing products to market.
The Company plans to compensate finders by way of cash fees and warrants.
The completion of the Private Placement is subject to customary conditions, including acceptance from the Toronto Stock Exchange Venture (“TSXV”). All securities issued will be subject to a hold period in accordance with TSXV and/or other regulatory requirements.
This news release does not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Convertible Debentures and the Shares which may be issued on exercise thereof have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.
About Sirona Biochem
Sirona 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 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.
About Promura GmbH
Promura GmbH is a Germany-based investor group with a focus on supporting innovative biotechnology companies in their development and expansion. With a strong presence in the sectors of insurance, loans, investment, and real estate, Promura GmbH aims to contribute to the growth of companies that are developing breakthrough technologies. Promura GmbH's expertise in these areas positions it as a key partner for supporting innovative ventures, including its new strategic investment in Sirona Biochem Corp.
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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.
Forward Looking Statements
This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
