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ALDA changes subsidiary name to Sirona, licenses T(3)6R infection-control technology
By E. Janene Geiss
Philadelphia, Jan. 12 - ALDA Pharmaceuticals Corp. announced Thursday that it has renamed its ALDA Institute For Preventive Health Care, Inc. subsidiary Sirona Therapeutics Corp.
It also said it has entered into a technology license and option agreement with Sirona to develop and commercialize therapeutic applications of ALDA's patent-pending T(3)6(R) infection-control technology in such areas as antiseptics, topical anti-fungal treatments, anti-microbial personal lubricants and anti-viral soaps, according to a company news release.
Under the agreement, Sirona has been granted a limited license to undertake further research and development and has assumed all financial obligations related to clinical trials, patent applications and prosecutions, officials said.
Sirona will pay ALDA milestone payments, in cash or shares, upon completion of defined events such as completion of clinical trials, regulatory filings and regulatory approval, officials said.
At any time Sirona may exercise an option to negotiate a commercial license with ALDA for a particular therapeutic application for a licensing fee and 2% royalty.
Additional therapeutic applications of infection control technologies that ALDA subsequently develops or acquires are intended to be developed through Sirona on similar terms as those set out in the current agreement, officials said.
"We believe that the therapeutic applications of ALDA's T(3)6(R) technology and other infection control therapies that we have been assessing, have great potential," Terrance G. Owen, president and chief executive officer, said in the release.
ALDA, based in Vancouver, B.C., has developed a family of wide spectrum, non-toxic, non-corrosive, biodegradable infection control products based on its patent-pending T(3)6(R) technology.
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