Sirona Biochem CEO's Report on Progress

VANCOUVER, BC--(Marketwired - December 08, 2016) - Sirona Biochem Corp. (TSX VENTURE: SBM) (FRANKFURT: ZSB) (XETRA: ZSB) today provided a business update.

Dear Shareholders,

The following is an update on our progress in 2016 and our plans for 2017.

Skin Lightener, TFC-1067

Throughout 2016, we have remained focused on completing a licensing agreement for our skin lightening compound, TFC-1067. It was our plan to finalize this transaction earlier in the year. However, it is not a timeline we have full control over. We have multiple companies engaged and progressing through due diligence at their own speed. Despite contrary market rumors, no party has left the negotiation table. At this time, we expect to receive one or more term sheets from interested parties before the end of Q4 2016. We remain very confident that one or more of these global entities will move forward with a definitive licensing agreement in early 2017.

Should the circumstances be that no potential licensing partner can complete the deal in a reasonable time frame, or for what we consider to be an appropriate value, then we will proceed with the full development of the skin lightener on our own. This would include GMP scale-up, toxicology, formulation and an early clinical trial. We already have consultants in France building the full development plan. We are aware that building a development plan may seem unnecessary but we take seriously our commitment to minimize risk and maximize opportunity for our shareholders. It is important that we are not dependent on a partner to complete a development plan and remain in a position of strength during negotiations.

SGLT2 Inhibitor, SBM-TFC-039 (Wanbang)

Wanbang Biopharmaceuticals recently provided a project update on the SGLT2 Inhibitor. We are very pleased to announce that they have completed most of the preclinical studies, the scale-up optimization and pharmaceutical grade manufacturing of the product. They will formulate the product in January 2017 to prepare for a clinical trial. Following that, they will conduct an additional pharmacology as well as toxicology study and file the "investigational new drug" (IND) package with the Chinese FDA (CFDA). This filing will trigger the next escalating milestone payment. Approval of the IND package by the CFDA will trigger another milestone payment and indicate the start of clinical studies.