Sirona Biochem Secures Strategic Investment Agreements and New Joint Venture with Promura GmbH

Core Insights - Sirona Biochem Corp. has successfully executed a strategic investment agreement with Promura GmbH, involving a private placement of $3 million CAD in unsecured, 12% convertible debentures [1] - The partnership includes the formation of Sirona Laboratories, a subsidiary focused on dermatological and cosmetic innovation, to be established in Luxembourg [2] - Promura intends to invest up to $12 million CAD into Sirona Labs, contingent on due diligence and specific conditions [3] Financial Details - The initial private placement proceeds will be allocated towards general working capital, ongoing research and development, and commercialization of Sirona's anti-aging product line [5] - Funds will also be used to complete overdue audited financial statements and annual Management's Discussion and Analysis, addressing a cease trade order issued by the British Columbia Securities Commission [5] - The financing is expected to close within 60 days, with plans for a smaller bridge financing to support the same objectives [5] Strategic Developments - The establishment of Sirona Laboratories will be responsible for the exclusive distribution of anti-aging products based on the TFC-1326 active ingredient [2] - The partnership with Promura will provide experienced personnel to manage operations, leveraging extensive industry expertise in cosmetics and dermaceuticals [3] - This collaboration is seen as a significant step forward in Sirona's growth and development, enhancing its market position and accelerating the commercialization of its product line [4]