Sirona BioChem signs LOI with Obagi Medical Products

October 2, 2013 |

In Canada, Sirona Biochem signed a Letter of Intent to provide a global exclusive license to Obagi Medical Products to commercialize the skin lightening compound TFC-849. In exchange for this license, Sirona Biochem will receive upfront and milestone payments as well as ongoing royalty payments for global product sales.

“We are thrilled to be partnering with Obagi Medical Products to commercialize our skin lightening technology into a global market projected to reach $19.8 billion by 2018,” said Neil Belenkie, Chief Executive Officer of Sirona Biochem. “Our goal is to grow this relationship, developing a pipeline of leading compounds for Obagi Medical Products for sale around the world.”

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