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Sirona Biochem Announces Private Placement of CDN$2,500,000

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 24, 2011) - Sirona Biochem Corp. (TSX VENTURE:SBM) (the "Company"), a biotechnology company developing therapeutics for diabetes and obesity, announced today that it is proposing to complete a private placement of 10,000,000 units of the Company at a price of $0.25 per unit for total proceeds of CDN$2,500,000. Each unit will consist of one common share and one-half of one transferable share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at any time for two years from the closing date at a price of $0.45. The warrants will be subject to forced conversion if the 10-day volume-weighted average trading price exceeds $0.65 during the period starting 4 months from closing. The Company may pay finder's fee in cash and/or securities in connection with the private placement. There are 38,590,984 current shares outstanding.

The Company intends to use the proceeds from the private placement to fund its acquisition of TFChem S.A.S. and for general working capital. The private placement is subject to acceptance by the TSX Venture Exchange.

Certain directors and officers of the Company may acquire securities under the private placement. Any such participation would be considered to be a related-party transaction as defined under Multilateral Instrument 61-101. The transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any shares issued to or the consideration paid by such persons will exceed 25 per cent of the company's market capitalization.

About Sirona Biochem Corp.

Sirona Biochem is a biotechnology company developing diabetes and obesity therapeutics. We are applying a proprietary chemistry technique to improve the pharmaceutical properties of our products. Developed by our partner, TFChem of France, this chemistry platform technology can be applied to improve the commercial value of many different therapeutics, cosmeceuticals and biological ingredients. Sirona Biochem recently announced its plans to acquire TFChem. For more information visit

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.
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