VANCOUVER, BC --(Marketwired - January 29, 2018) - Sirona Biochem Corp. (TSX VENTURE: SBM) (FRANKFURT: ZSB) (XETRA: ZSB) (the "Company") is pleased to announce that the $500,000 USD payment from Wanbang Biopharmaceuticals has been received.
The Company now awaits the China Food and Drug Administration (CFDA) approval of the IND filing, which will lead to a clinical trial of Sirona's SGLT2 inhibitor for diabetes. The CFDA is required to respond to the submission no later than sixty days after filing. Filing took place December 27th, 2017. The acceptance of the IND application by the CFDA, will trigger another $500,000 USD milestone payment to Sirona Biochem.
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.
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Sirona Biochem Corp.
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