Yesterdays NewsBelow is a copy and link to yesterdays news for those who didnt see it. Will be interesting to see where we head from here since the halt should be done today at open I would asume.
https://www.marketwire.com/press-release/Sirona-Biochem-Announces-Positive-Preclinical-Results-for-Diabetes-Drug-Candidate-TSX-VENTURE-SBM-1378204.htmJan 10, 2011 18:12 ET
Sirona Biochem Announces Positive Preclinical Results for Diabetes Drug Candidate
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 10, 2011) - Sirona Biochem Corp. (TSX VENTURE:SBM) (the "Company"), a biotechnology company specializing in carbohydrate-based molecules, including therapeutics for diabetes and obesity, cosmeceuticals and biological ingredients, announced today it achieved positive preclinical results for its Type 2 diabetes drug candidate. Sirona Biochem's lead compound, an SGLT2 (sodium glucose transporter) inhibitor, reduced blood glucose levels in a dose-dependent manner by as much as 50% compared to untreated groups and showed efficient glucose lowering effect following oral administration. Furthermore, in a comparative study, Sirona Biochem's lead compound achieved better results than dapagliflozin, a Phase 3 SGLT-2 inhibitor for Type 2 diabetes.
"This promising preclinical data is a significant step for Sirona Biochem in our goal to develop effective best-in-class treatments for the millions of people suffering from diabetes worldwide," said Sirona Biochem President Mark Senner. "Carbohydrate-based chemistry offers tremendous opportunities towards the development of new treatments, anti-aging cosmetic ingredients and biological ingredients and we feel this positive preclinical data demonstrates that our proprietary chemistry technology is working towards the development of commercially valuable programs," he added.
Sirona Biochem is developing sodium glucose transporters (SGLT) inhibitors in addition to other carbohydrate-based molecules. SGLT2s are responsible for glucose reabsorption from the kidneys into the bloodstream. This process contributes to elevated levels of glucose in a person with Type 2 diabetes. SGLT2s inhibitors reduce the excess glucose from entering the bloodstream by releasing the glucose into the urine and, as a result, may help control Type2 diabetes. SGLT2 inhibitors are carbohydrate-based molecules, which tend to be difficult to develop. Sirona Biochem applies an advanced chemistry method to stabilize and improve the properties of carbohydrate-based molecules, including our SGLT2 inhibitor.
About Sirona Biochem Corp.
Sirona Biochem is a biotechnology company developing diabetes and obesity therapeutics, anti-aging cosmetic ingredients and biological ingredients. Our advanced chemistry technology is being applied towards the development of these carbohydrate-based programs. Our aim is to improve the commercial value of carbohydrate-based molecules by improving their pharmaceutical qualities. In August 2010, Sirona Biochem announced it had signed a binding preliminary agreement to acquire France-based TFChem. For more information visit www.sironabiochem.com.
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.
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.