AbbVie Signs Cosmetic Compound Licensing Deal With Sirona Biochem

By: Sirona Biochem Corp.
 
Press Release 2 Copy 3
Press Release 2 Copy 3
VANCOUVER, British Columbia - June 13, 2022 - PRLog -- Allergan Aesthetics, a subsidiary of AbbVie Inc., a global biopharmaceutical company, has signed a licensing deal with Sirona Biochem (TSX-V: SBM). The deal is for the use of Sirona's patented library of compounds, including its breakthrough dark spot corrector molecule known as TFC-1067. AbbVie plans to commercialize and market the ingredient and add it to its growing aesthetics and cosmetics portfolio.

The global exclusive licensing agreement includes up-front payments from AbbVie to Sirona Biochem. It also includes milestone payments and royalty payments for sales generated from commercial products using Sirona's patents. AbbVie and Sirona are expected to sign a separate definitive supply agreement, which will see the latter become a major supplier of the patented compounds.

AbbVie, through its subsidiary Allergan Aesthetics, controls a large portion of the global aesthetics market. The company, one of the top five pharmaceutical companies in the world based on revenue, plans to capitalize on Sirona Biochem's TFC-1067 compound, which is expected to replace hydroquinone as the next gold standard for creating an even skin tone.

The deal is part of Abbie's ongoing mission to discover and deliver new and innovative medicines to address tomorrow's medical challenges. Apart from its products and services offered through Allergan Aesthetics, AbbVie also boasts impactful products in key areas such as immunology, oncology, neuroscience, eye care, virology, women's health, and gastroenterology.

Sirona Biochem's CEO, Howard Verrico, said clinical trials of TFC-1067 had found it to be safer and more effective at treating hyperpigmentation, dark spots, and melasma compared to any other ingredient on the market.

Dr. Linda Pullan of Pullan Consulting said the deal presents an enormous opportunity for both companies as it combines AbbVie's global presence and Sirona Biochem's disruptive technology. She added that Sirona Biochem stands to generate steady income from the deal on top of the milestone and upfront payments.

AbbVie and Sirona Biochem did not disclose other details of the deal as per their signed standard contractual terms. However, Sirona Biochem likely stands to gain substantial income from annual royalty payments once AbbVie is able to solidify its presence in the $8 billion global skin-lightening market.

Sirona's current pipeline includes cell preservation and repair treatments, keloid therapy, scar therapy, anti-aging, anti-wrinkle, and cellulite treatment. Sirona Biochem is also currently focused on developing a treatment for diabetic animals and a novel anti-viral treatment for humans. TFChem, Sirona's scientific development branch in France, has won several scientific accolades and European Union and French government grants.

For more information, please visit https://www.sironabiochem.com

or download their Investor's Presentation

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Tags:Biotech, Stocks, Cosmetics, Pharmaceutical, Therapeutics
Industry:Biotech, Stocks, Medical
Location:Vancouver - British Columbia - Canada
Subject:Partnerships
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