Sirona Biochem faces financial challenges, closes French subsidiary

Sirona Biochem Corp. (TSX-V: SBM) reported that its convertible debenture financing announced in April failed to attract sufficient investor participation. The Vancouver-based company stated that management has operated without salary for two years and personally contributed funds to maintain operations.

The company entered an investment agreement with Promura GmbH in April, but the committed funds were never received despite multiple assurances and delays. Sirona concluded the investment will not materialize.

Due to limited financing options, Sirona decided to allow the orderly liquidation of its wholly owned subsidiary TFChem in accordance with French bankruptcy regulations. All laboratory operations have ceased and the facility is permanently closed. The company received a cease trade order on March 7, 2025, due to ongoing financial pressures.

Allergan Aesthetics informed Sirona it will not proceed with the license agreement announced in June 2022 regarding the commercialization of TFC-1067. The agreement involved Sirona's cosmetic ingredient technology.

Management acknowledged that the commercial potential of its proprietary technologies remains uncertain but stated it is evaluating structural and financial options that could support future development if feasible.

Sirona specializes in stabilizing carbohydrate molecules for cosmetic ingredients and drug discovery. The company's business model involves licensing compounds to other companies in exchange for licensing fees, milestone payments and royalties.

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