Sirona Biochem

Sirona Biochem (formerly High Rider Capital) is a biotech company that aims to develop therapeutics for type 2 diabetes, obesity, and cancer.In August 2010, Sirona Biochem agreed to acquire TFChem for EUR 1.5 million or CAD $2 million (US $1.9 million). Sirona would buy all of TFChem's issued shares in exchange for 13 million Sirona common shares priced at CAD$0.10 (US $0.09) per share, plus EUR 0.50 million or CAD $0.66 million (US $0.63 million) in cash. The Sirona common shares would be issued at the closing date and escrowed, with 10% released on the closing date and the remaining 90% released over a six-year period. The acquisition was subject to the cancellation of all of the Sirona shares issuable to TFChem under a research and license agreement entered into in September 2008. The deal was also subject to Sirona shareholder approval of a potential change of control of Sirona via the acquisition of 20% of the issued and outstanding shares of the company by Dr Geraldine Deliencourt-Godefroy