SemBioSys announces 2007 financial and operation...(h an expanded focus on insulin and ApoAI...)

General and administrative expenses for the twelve-month period ended December 31, 2007 were $4,528,184 compared with $4,013,653 for the corresponding period last year. The difference is due mainly to the increased general and administration support required for the overall increased company activity including newly added staff and the additional related support costs as well as increased recruiting activities for senior management in Botaneco.

Intellectual property costs for the twelve-month period ended December 31, 2007 were $1,569,095 compared with $3,467,045 for the twelve-month period ended December 31, 2006. This difference is primarily attributable to a $1,516,906 non-cash license fee incurred in the second quarter of 2006 for the acquisition of technology from Syngenta Crop Protection AG in exchange for warrants.

Business development costs for the twelve-month period ended December 31, 2007 were $1,213,634, compared with $745,964 for the corresponding period last year. The difference is primarily related to the commercialization activities of Botaneco including increased staffing levels and increased contractor and consulting time.

Net loss for the twelve-month period ended December 31, 2007 was $15,418,677 or $0.71 per share, compared to a net loss of $14,127,086 or $0.85 per share for the twelve-month period ended December 31, 2006.

As at December 31, 2007 the Company had cash and cash equivalents totaling $20,444,013 and a net positive working capital balance of $19,518,408 compared to $16,328,459 and $15,576,155, respectively, at December 31, 2006. Total long-term debt at December 31, 2007 was $1,389,047 compared with $2,084,103 at December 31, 2006.

The increase in cash and working capital resulted primarily from the completion of a $14,379,010 (net of issue costs) public offering in the first quarter of 2
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