HERSHEY, Pa.--(BUSINESS WIRE)--Sidero Bioscience, LLC, (Hershey, PA) a clinical stage biotechnology company targeting human digestive health, today announces the execution of a term sheet agreement with SRS Life Sciences PTE. LTD, (Singapore) a leading life sciences company. The agreement provides SRS exclusive rights for sales, marketing, and distribution of Sidero’s patented biologic iron, BioFeTM, for the management of iron deficiency and related disorders in India and Southeast Asia.
"This agreement illustrates the excellent partners and licensing opportunities available for our robust and intuitive BioFe technology," noted Darren Wolfe, Ph.D., President & CEO, Sidero, adding "Iron Deficiency remains a massive global unmet medical need, one that BioFe addresses with natural biology instead of chemicals. We are encouraged by the eagerness of the SRS team to work with us and expect a binding agreement in the near term."
“At SRS Life Sciences, we exist to change what’s possible for the health of the 6 billion people living in emerging nations. We continuously identify the most pressing unmet healthcare needs so we can be first to deliver products and solutions that lessen the burden of disease,” states Suchet Rastogi, CEO, SRS Life Sciences. Mr. Rastogi continues, “With BioFe, our initial target is to move the needle on the 468 million women suffering from anemia.”
Iron Deficiency (ID), the most common and widespread global nutritional disorder, affects over 2 billion people and causes about 1 million deaths/year (predominantly in Africa/Southeast Asia). The WHO estimates a staggering $2 trillion annual global economic cost due to micronutrient deficiencies, with iron being the most common. ID, which frequently progresses to Iron Deficiency Anemia (IDA), is associated with numerous medical conditions and symptoms, affecting all ages - prenatal to elderly. In the young, ID impedes motor and mental development leading to lifelong physical and cognitive deficiencies. In adults, ID causes fatigue, reduced work capacity, and reduced quality of life among many other symptoms. Iron deficiency is also linked to restless leg syndrome (RLS), hearing deficits, and heart failure and kidney disease morbidity. Significantly, even mild Iron Deficiency leads to decreased physical/athletic performance and also decreased intellectual/cognitive performance.
James Connor, Ph.D., Founder and Chairman of the Sidero Board, states, “In partnership with SRS, we strive to provide a safe, effective, and cost-efficient treatment option for iron deficiency. The SRS health team understands the global impact of ID/IDA and are experts in launching transformational technologies, like BioFe, to fill significant unmet medical needs.”
About Sidero Bioscience
Sidero is advancing disruptive technologies utilizing the patented SiderosorbTM platform that employs nutritional Baker’s yeast, Saccharomyces cerevisiae, to provide therapeutic proteins/complexes to improve human health. BioFeTM is a nutritional yeast strain expressing very high levels of H-Ferritin, FTH1, a natural iron transport and storage protein. An illustrative example of the natural biology of the Ferritin/Iron complex is its presence in human breast milk, providing nursing infants the readily adsorbed iron required for growth and development without gastrointestinal upset. Sidero is currently preparing manuscripts detailing the preclinical and clinical development of BioFeTM, funded in part by grant support from the National Institutes of Health and others.
About SRS Life Sciences
www.SRSLife.com, Through transformational innovation SRS has tackled and improved disease burden by delivering new possibilities in drug delivery systems, formulations and medical diagnostic solutions. We make an impact via a portfolio of therapies that treat diseases and not symptoms.
The SRS heritage of disrupting norms has been achieved by standing shoulder-to-shoulder with healthcare professionals and other health innovators. Together we have delivered many world firsts into the hands of healthcare professionals and patients to create change where it is needed most. SRS will always be relentless in meeting the world’s most fundamental healthcare needs head on, in our continuous pursuit of new possibilities made accessible to all.