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Sirona Biochem: Game-changer makes it a coveted takeover target
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Sirona Biochem recently announced a potentially groundbreaking discovery: a cellulite therapy. In this interview, CEO Dr. Howard Verrico and CSO Dr. Graldine Deliencourt-Godefroy talk about its potential.
There are many virtually unknown gems in the biotechnology and biochemistry industry. Sirona Biochem is one of them. The company works on active ingredients for therapeutics and cosmetics and has recently discovered a potential cellulite therapy. In this interview, CEO Dr. Howard Verrico and CSO Dr. Graldine Deliencourt-Godefroy go into more detail about this new discovery, the underlying technology, and potential major partnership and licensing deals in the near future.
Sirona Biochem recently announced an exciting new discovery against cellulite. How did this discovery come about and what is the next step in its development? Are there already interested parties from the pharmaceutical or cosmetics industry?
Dr. Deliencourt-Godefroy: When we create a portfolio for a specific application, we make derivatives of the main chemical structure and test them for efficacy using various tests. During these tests, this compound showed specific properties for an application we had not expected: the treatment and prevention of cellulite.
The in silico safety testing and the crucial in vitro efficacy testing have been completed. This allowed us to determine that this compound targets the key biological aspects involved in cellulite. Due to its amazing profile, the compound can take a leading role where there is an exorbitant unmet need. The typical next steps are in vitro safety, production, formulation, clinical safety and efficacy.
Dr. Verrico: Our team of scientists is constantly working to develop new compounds based on known compounds or, as in this case, new structures from our existing library of compounds. We conduct extensive testing on our new compounds to determine their potential efficacy in target applications.
In one of these tests with our new compounds, we discovered that the molecules were suitable for treating cellulite. We did not expect the result, and it prompted our scientists to conduct further tests, which eventually proved the potential application. This is a groundbreaking discovery, as we are not aware of any existing compounds that offer real treatment potential for cellulite.
After discovering this cellulite treatment opportunity, our scientific team created a plan to move these compounds into a clinical trial. This plan is currently being implemented and the project is underway. It is a large-scale project with enormous commercial opportunities. We are currently preparing to present this discovery to the pharmaceutical and cosmetic industries. There is already interest in our discovery and presentations have been developed and provided to a potential partner.
TFChem stands for expertise in fluorochemistry that can improve the pharmaceutical properties of carbohydrate-based molecules through stabilization. Who else is active in this field? Who are your main competitors? And what differentiates Sirona from them?
Dr. Deliencourt-Godefroy: Because of the potential of carbohydrates in new drug development, there are several companies, from big pharma to biotech, working on or developing sugar/carbohydrate derivatives as drugs. They are all trying to solve the problem of stability by developing different approaches to maintain activity and delay degradation of these compounds.
This is the case with Merck and its antiviral monulpiravir. However, we have developed a unique expertise in mimicking sugars that allows us to identify potential drugs in a small portfolio of compounds (5 to 20), whereas it normally takes the development of 10,000 molecules for two to three potential drugs.
In addition, the mimic products developed with our technology are highly effective because they mimic sugar very well. This means that they are very close to natural sugars in terms of structure, electronic properties, and bonding, and they have the greatest possible stability because the C-F bond is the strongest.
Dr. Verrico: I am not aware of any direct competitor using a platform technology as successful as ours for this form of chemistry. It is a very specialized, proprietary platform technology developed by Dr. Graldine Deliencourt-Godefroy and our team of scientists.
Our team is a world leader in this field of carbohydrate-based molecules. Our proprietary chemistry has proven highly successful in numerous projects in both the therapeutic and cosmetic fields. Several projects have reached the clinical trial stage and one project has now been taken through to commercialization. We have a very rich and diversified pipeline with no shortage of opportunities.
The biotech industry has received a major wave of new attention as a result of the search for solutions to treat or prevent COVID-19. Just recently, Merck & Co. announced that an antiviral agent they are developing can cut hospitalizations and deaths in COVID-19 patients in half. Sirona is also working on an antiviral. What approach are you taking here and what is the current status of development?
Dr. Verrico: Our scientists have now synthesized 18 new potential antiviral compounds. We are developing a collection of compounds to determine ideal candidates for further development while establishing the development and commercialization plan.
If we are successful, we will join Merck & Co. and Pfizer in creating new treatments to combat known viruses and future viral threats. Antiviral agents are often used in combination with other antiviral agents. Merck & Co. and Pfizer have had great success in this area with their new experimental antiviral drugs. They have shown the possibilities that exist in this area. There is still a tremendous unmet need and we want to work to develop a new therapeutic to combat the many viral diseases we face.
Dr. Deliencourt-Godefroy: We are not targeting the same biological pathway as Merck & Co. and Pfizer, because we are not focusing on the virus, but on the host cell. This seems strange, but it is the only way to avoid resistance to viral mutations. In addition, by targeting the host cell, we have the opportunity to develop a broad-spectrum antiviral. In this field, there is a need to use multiple approaches to obtain a highly efficient treatment.
A potential "game changer" for Sirona is TFC-1067 - a skin lightening active ingredient already used by Rodan + Fields in a commercial product. In recent months, a large pharmaceutical company has been testing the active ingredient as part of a due diligence process. What do you think the chances are for a licensing agreement?
Dr. Verrico: We have been working with this top 10 global pharmaceutical company for over a year on very specific research as part of scientific due diligence. We are now conducting further standard due diligence as part of licensing discussions. The company's team consists of approximately 80 employees and both parties are very interested in this project ultimately being used in their very successful product lines.
The process is progressing normally in terms of timing in the context of a transaction of this magnitude. I believe that the chances for a licensing agreement are very high. TFC-1067 has an excellent safety and efficacy profile that we believe makes it a leading product in the industry.
There are many technical papers circulating in recent months about the health benefits of SGLT2 inhibitors. They highlight benefits such as alleviating diabetes and chronic kidney disease, reducing patients' risk of hospitalization due to heart failure, or protecting multiple organs. Sirona developed an SGLT2 inhibitor several years ago (TFC-039). Why has the immense potential not yet been exploited? What is your strategy here?
Dr. Deliencourt-Godefroy: We have determined from preliminary testing that this compound may also have the potential for broader applications, but it needs further testing, which is challenging at the preclinical level. It would be ideal for us to benefit from the progress of the Wanbang clinical trial to develop a diabetes treatment. It will then be easier to collaborate with other companies to move forward with development.
Dr. Verrico: We have been successful in licensing our anti-diabetic drug to Wanbang Biopharmaceuticals. a subsidiary of Fosun Pharma, for use in China. They are currently overseeing the development through the necessary clinical trials. However, the true benefits of SGLT2- inhibitors are yet to be explored - there is the potential to help patients in many ways. Moving a new drug through clinical development is a major undertaking and requires a lot of time and resources. We are actively monitoring new developments and have initiated some testing for new therapeutic opportunities for TFC-039.
Let's be honest: If Sirona has such an exciting pipeline, why hasn't the company already been acquired? Is a takeover a strategic goal for you? After all, you both hold large shares in the company yourselves.
Dr. Verrico: I firmly believe that if we continue to build our pipeline, we will be a takeover target. At the right price, that would be something we would welcome. We built Sirona with that potential in mind. We hold strong patents to protect our achievements and that makes us a valuable investment. We have enormous growth potential and that will increasingly make Sirona a desirable takeover target.
About two years ago, the division of Sirona into two companies was mentioned as an option. A major anchor investor, e.g. a large pharmaceutical or cosmetics manufacturer, would also be conceivable. Are there any concrete considerations here?
Dr. Verrico: We have carefully examined this option. To do so, we need a detailed plan with sufficient financing and the approval of the shareholders. Such a split brings numerous advantages, but also involves risks and costs. If, as expected, we are successful with a major transaction involving our skin lightener TFC-1067, the time may be right to move forward with this option. We are very interested in this, as Sirona and its shareholders would benefit from it.
Sirona Biochem is a Canadian company, and research is carried out at the subsidiary TFChem in France. How is it that you have so many investors in German-speaking countries? And: In order to also reach large institutional investors - are there considerations for a listing on Nasdaq?
Dr. Verrico: German-speaking investors in several European countries are very active in investing in Canadian listed companies. We have reached out to this group of investors over the years to introduce them to Sirona, and they have recognized the tremendous opportunities the company offers. Many have become shareholders. We are very grateful for their support, which is a key element in our overall success.
We have explored opportunities such as a listing on Nasdaq. We need to complete a few more transactions to meet the requirements for such a listing. The opportunities for rapid growth of Sirona through a Nasdaq listing are obvious. We believe this will be a real opportunity and we will explore it further at the right time. Depending on what is expected to happen in the short term, we won't have to wait long. The process and decision for a Nasdaq listing is complex and will be made at the right time for the company and its shareholders.
Last question: what do you enjoy most about your work, what motivates you and drives you?
Dr. Deliencourt-Godefroy: As a scientist, I obviously appreciate the challenges of research, but what primarily motivates me is improving human health. Seeing the medicines we have conceived and developed in our lab come to market and benefit patients is a strong driving force for me and the entire team at TFChem.
Dr. Verrico: We have a great team that has achieved numerous successes. Working with such talented people is fulfilling. I have witnessed an idea evolve into a clinical success. Overcoming the numerous challenges along the way brings numerous rewards and a great sense of accomplishment. We are building a great company, and this is a unique opportunity that motivates me and our team. We know that there are many more successes ahead of us and this perspective continues to drive us.
Dr. Deliencourt-Godefroy, Dr. Verrico, thank you for the interesting interview and we wish you continued success!