SemBioSys announces 2007 financial and operation...( - Canadian Biotechnology Company ad...)

- Canadian Biotechnology Company advances pharmaceutical programs while

executing on non-pharmaceutical opportunities -

TSX symbol: SBS

CALGARY, March 17 /PRNewswire-FirstCall/ - SemBioSys Genetics Inc. (TSX:SBS), a biotechnology company developing a portfolio of therapeutic proteins for metabolic and cardiovascular diseases, today announced its operational and financial results for the twelve-month period ended December 31, 2007.

"We made progress on multiple product candidates during 2007 that was essential to setting the stage for significant value creating milestones in 2008. We believe that each of our candidates individually represent an exciting and material opportunity to the growth of our company. The basis for this growth is the flexibility of our proprietary oilbody-oleosin technology which allows us to target multiple markets that require high volume, cost-effective pharmaceutical and non-pharmaceutical products," said Andrew Baum, President and CEO of SemBioSys Genetics Inc. "Establishing Botaneco as a separate operating company with genuine value creating potential and achieving commercially viable levels of Apo AI accumulation were some of the key highlights of the year for us. Additionally, we have made significant progress on the insulin program including the necessary preclinical work to submit an IND in order to begin the Phase I/II clinical trial in the second half of 2008. While we have adjusted the expected start date of the insulin clinical trial, we believe the insulin program represents just one of the important upcoming milestones for SemBioSys in 2008. We also expect in vivo functional and efficacy results from Apo AI(Milano), which has the potential to attract partnership opportunities as well as further growth and business development opportunities from Botaneco. Our recent achievements have also begun to attract interest from new potential partners that believe the capab
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