VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 3, 2013) -

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Sirona Biochem Corp. ("the Company") (TSX VENTURE:SBM)(OTCQX:SRBCF)(FRANKFURT:ZSB) is pleased to announce that it closed today equity and debt financings for gross proceeds of $975,000, bringing the total capital raise to $2.4 million to date in 2013.

"We thank the investment community for their confidence in Sirona Biochem and our international team," commented Neil Belenkie, Sirona Biochem's Chief Executive Officer. "This capital infusion will support us to achieve our goal of licensing and partnering our innovative compounds. This is the most exciting time in our company's history," he added.

The total capital raise of $2.4 million consisted of the equity placement of $375,000 and the debt placement of $600,000, both of which closed today, and the equity raise of $1,424,500 that closed in March 2013.

Equity Financing

In the equity financing, a total of 3,750,000 units (each a "Unit") were issued at a price of $0.10 per Unit. Each Unit consisted of one common share of the Company and one transferable share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional common share of the Company at any time for two years at a price of $0.15 per share. Chris Verrico, a director of the Company, purchased 1,500,000 Units.

In connection with the equity placement, the Company will pay fees of $4,000 and issue 40,000 non-transferable finder warrants to Leede Financial Markets Inc., with each finder warrant exercisable into one common share for two years at an exercise price of $0.15 per share.

Debt Financing

In the debt financing, a total of $600,000 was raised by way loans to the Company. The loans are due 18 months from the date of advancement of the funds and accrue interest at a rate of 12% per annum. The Company also issued 4,374,815 transferable share purchase warrants (the "Bonus Warrants") to the lenders. Each Bonus Warrant entitles the holder thereof to purchase one common share of the Company for a period of 30 months at exercise prices ranging from $0.10 to $0.12 per share.

Alex Marazzi, a director of the Company, participated in the debt financing in the amount of $30,000.

In connection with the debt placement, the Company will pay fees of $15,750 and issue 210,000 non-transferable finder warrants to various finders, with each finder warrant exercisable into one common share for 30 months at an exercise price of $0.10 per share.

Disclosure Related to Financings

The Company intends to use the proceeds from the equity and debt financings for research and development, operations, business development activities and general working capital.

The payment of all finders' fees and the issuance of finder warrants in connection with the financings are subject to final approval by the TSX Venture Exchange ("TSX-V"). All securities issued in connection with the financings are subject to a four-month hold period that expires on September 3, 2013.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Warrant Extension

The Company reports that it will make an application to the TSX-V to extend the term of 10,215,000 warrants, which were originally issued on October 23, 2010 and are exercisable at $0.20 per share until October 23, 2013. The Company is applying to extend the expiry date of these warrants to October 23, 2015. The exercise price for the warrants will remain the same. The warrant amendments have been approved by the board of directors of the Company, subject to the receipt of TSX-V approval.

About Sirona Biochem Corp.

Sirona Biochem is a biotechnology company developing diabetes therapeutics, skin depigmenting and anti-aging agents for cosmetic use, biological ingredients and cancer vaccine antigens. The company utilizes a proprietary chemistry technique to improve pharmaceutical properties of carbohydrate-based molecules. Sirona Biochem is the parent company of French-based biotechnology company, TFChem. For more information visit [ www.sironabiochem.com ].

Sirona Biochem cautions you that statements included in this press release that are not a description of historical facts may be forward-looking statements. Forward-looking statements are only predictions based upon current expectations and involve known and unknown risks and uncertainties. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of release of the relevant information, unless explicitly stated otherwise. Actual results, performance or achievement could differ materially from those expressed in, or implied by, Sirona Biochem's forward-looking statements due to the risks and uncertainties inherent in Sirona Biochem's business including, without limitation, statements about: the progress and timing of its clinical trials; difficulties or delays in development, testing, obtaining regulatory approval, producing and marketing its products; unexpected adverse side effects or inadequate therapeutic efficacy of its products that could delay or prevent product development or commercialization; the scope and validity of patent protection for its products; competition from other pharmaceutical or biotechnology companies; and its ability to obtain additional financing to support its operations. Sirona Biochem does not assume any obligation to update any forward-looking statements except as required by law.

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