CORRECTION -- Sirona Biochem Corporate Update January 2024

VANCOUVER, British Columbia, Jan. 24, 2024 (GLOBE NEWSWIRE) -- In a release issued under the same headline earlier today by Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) (OTC: SRBCF), please note that in the 8th paragraph of the letter, the company plans to launch its first product early in the 1^st quarter of 2025, not the 1^st quarter of 2024 as previously stated. The corrected release follows:

Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) (OTC: SRBCF) (“Sirona”) provides the following update:

Dear shareholders,

We are pleased to provide an update on our recent milestones and strategic decisions shaping Sirona Biochem's path forward.

Trademark of TFC-1326 as GlycoProteMim

We recently trademarked TFC-1326 as GlycoProteMim^TM. This branding decision aims to distinguish our anti-aging active ingredient in a competitive market by giving it an easily recognizable identity, while also enhancing its marketability and positioning it as a sought-after solution in the beauty industry. With a diverse array of options for consumers to address visible signs of aging, our brand aims to be one that people can be educated about, understanding its benefits and easily identifying it in the marketplace.

Establishment of Sirona Laboratories

We are excited to introduce Sirona Laboratories^TM, a newly established entity dedicated to commercializing GlycoProteMim. This decision is rooted in our commitment to expedite the commercialization process and provide a streamlined avenue for market penetration.

Sirona Biochem will maintain majority ownership in the subsidiary. This will ensure a more streamlined and efficient commercialization process by eliminating the common delays associated with external partnerships. We are poised to bring this innovative skincare solution to market in the shortest time possible.

Ultimately, the creation of Sirona Laboratories stands as a strategic move that directly benefits our stakeholders. It not only safeguards shareholder interests but also positions GlycoProteMim as a valuable asset within a separate entity, presenting potential avenues for capitalization on its technology while preserving the integrity of Sirona Biochem.

In the aesthetic space brand acquisitions at high valuations are common and novel technology optimally capitalized when part of an established brand. Beauty brand M&A is predicted to be a growing market trend. https://www.beautyindependent.com/kearney-predicts-beauty-ma-activity-increase/.