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Sirona Biochem Corp V.SBM

Alternate Symbol(s):  SRBCF

Sirona Biochem Corp. is a cosmetic ingredient and drug discovery company with a proprietary technology platform developed at its laboratory facility in France with a specialization in the stabilization of carbohydrate molecules. The Company is exploring the areas of diabetes, dyschromia, anti-aging, anti-cellulite and antiviral therapies and relies on a business model of licensing patents to large organizations in return for up-front and milestone payments as well as royalties. Its two most advanced programs are the cosmetic skin lightener and diabetes drug. The Company's TFC-1067 is for the treatment of Dyschromia (Dark spots on the skin). GlycoProteMim is a novel anti-aging compound. GlycoProteMim is based on the naturally occurring glycoproteins found in Antarctic fish, known to protect them against environmental stressors. It is focused on three current antiviral categories: Neuraminidase Inhibitors, Nucleoside Analogs and Iminosugars. Its wholly owned subsidiary is TFChem S.A.R.L.


TSXV:SBM - Post by User

Comment by lscfaon Jul 07, 2022 9:05am
149 Views
Post# 34807830

RE:Upfront Fee Material Information?

RE:Upfront Fee Material Information?

Market thinks it's not much better than R+F deal......

 

Manufacturing and Supply Agreement with Rodan & Fields, LLC (“R&F”)

 

On September 13, 2019, the Company entered into a manufacturing and supply agreement, pursuant to which the Company shall manufacture, test, label, package, store and supply R&F a minimum of 10 kilograms per year of skin lightening compound TFC-1067 for use in the United States, Canada, Australia and Japan for US$8,000 per kilogram beginning in 2020. 

 

In consideration for these services, R&F shall also make the following license fee and milestone payments to the Company:

i. US$50,000 ($67,225) license fee on signing of the agreement (recorded as revenue in fiscal 2019 and receivable at October 31, 2019);

ii. US$50,000 milestone payment on the launch of the first finished skincare product which includes TFC-1067; and

iii. a US$50,000 milestone payment for each additional finished skincare product launched containing TFC-1067.

 

After receipt of an invoice, R&F will pay the Company within net 15 days -2% or 60 days.

 
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