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Sirona Biochem (V.SBM) pops 5% on expanding skin lightening license with Valeant Pharmaceuticals

Stockhouse Editorial
0 Comments| May 29, 2014

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Sirona Biochem (TSX:V.SBM, Stock Forum), a Vancouver-based cosmetic ingredient and drug discovery firm, announced today that the company expanded its exclusive license with Valeant Pharmaceuticals for the company’s skin lightening compound TFC-849 to include AMBI and Kinerase.

According to the news release, the license gives Valeant exclusive global rights to TFC-849.

Company CEO, Neil Belenkie, commented, “We are excited to add AMBI and Kinerase, two of Valeant Pharmaceutical's premium skin care companies, to the commercial license for TFC-849.”

He then concluded, “Adding premium brands with global distribution through over-the-counter (OTC) store sales and significant ecommerce platforms ensures that our compound will reach leading skin lightening and brightening markets around the world.”

Sirona Biochem was in the news recently when the company celebrated a successful drug study for its anti-aging Glycoprotein.

Shares climbed 5.00% on the news to $0.105 per share.

Currently there are 121.5m outstanding shares with a market cap of $12.8 million.



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