20 October 2020 | News
The agreement provides SRS exclusive rights for sales, marketing, and distribution of Sidero’s patented biologic iron
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Sidero Bioscience, LLC, a clinical stage biotechnology company in the US targeting human digestive health, 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."
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.