VANCOUVER, British Columbia , Oct. 17, 2018 (GLOBE NEWSWIRE) -- Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) (Xetra: ZSB) (the “Company”) is pleased to announce that it has engaged Mr. Sven Harpering, a Tokyo-based consultant, with the help of its strategic advisory firm, PRC Partners (“PRC”) to fast-track negotiations in Japan.

Sven Harpering is a recognized Japanese business expert, with a Masters in East-Asian Studies. He has 14 years of business experience in Germany and 10 years in Japan, where he built a strong track record working in top management positions within various businesses.

With a deep insight of Japanese business culture and a high degree of fluency in Japanese, he is currently acting as a door-opener, consultant, intermediary and interpreter for a complex and demanding cross-section of businesses including; medical instruments, cosmetics, food and food-supplements.

The Company has appointed Mr. Harpering to build and negotiate licensing agreements for Sirona’s lead skin-lightening active TFC-1067 as well as its anti-wrinkle compound LIP-01, exclusively in Japan. Mr. Harpering will be working as a full time consultant for Sirona.

Asia continues to be the fastest growing market for skin-lightening, with high consumer purchasing power and a large demand for safe, effective products that are hydroquinone-free. Japan, specifically, is the largest skin-lightening market in the world, accounting for approximately 70% of the global market revenue, or 14 billion USD.

Sirona recognized the difficulty of penetrating the valuable Japanese market and elected to bring Mr. Harpering on board to capitalize on his extensive expertise in the market and his experience negotiating deals with government officials. Because he is based in Japan and speaks fluent Japanese, this will enable and expedite discussions with leading Japanese cosmetic companies.

“We are pleased to have Mr. Harpering representing Sirona in Japan and taking the lead in finding the right partners for TFC-1067 and LIP-01,” said Dr. Howard Verrico, CEO of Sirona Biochem. “It is essential we have an expert located in Japan who is familiar with the local business customs, can act quickly and has previously achieved success in negotiations in Japan. We believe this is the most cost-effective way to introduce Sirona to the large cosmetic companies in Japan and develop partnerships.”

Sirona remains focused on securing licensing agreements for TFC-1067 in North America and China. As discussions move forward, expanding Sirona’s market reach will ensure greater success for TFC-1067. With the assistance of PRC and the consultants in Japan and China, the Company believes it will be successful in licensing TFC-1067 in Asia, and North America.

About PRC Partners

PRC Partners is a Hong Kong-based corporate development consulting firm with a strong focus on China and Japan. The company assists Canadian public companies in tapping investment funds and high-net-worth individuals in Asia.

PRC Partners has a specific focus on the discovery of undervalued and promising growth companies and serves these companies by increasing visibility and accessing capital through an experienced network of investors.

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.

For more information regarding this press release, please contact:

Christopher Hopton, CFO
Sirona Biochem Corp.
Phone:  1.604.282.6064
Email: [email protected]

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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.