SemBioSys announces 2007 financial and operation... (007 and an $8672040 (net of issue costs)...)

SemBioSys announces 2007 financial and operational results

Date:3/17/2008

007 and an $8,672,040 (net of issue costs) private placement completed in November of 2007.

As at December 31, 2007 the Company had 25,886,676 common shares outstanding, 4,322,000 warrants, and 1,335,224 options.

Outlook

SemBioSys is currently conducting all the necessary preclinical work for safflower-produced insulin to enable it to file an IND application with the FDA to proceed into human clinical trials in the second half of 2008. The upcoming insulin milestone events include:
- Completion of the toxicology studies of safflower-produced insulin

- Completion of the production of clinical grade insulin supply for use

in Phase I/II human clinical trials

- Submission of an IND to the FDA in the second half of 2008

- Initiation of a 30 patient Phase I/II clinical trial of safflower-

produced insulin in the second half of 2008

- Continuation of business development activities toward an insulin

partnership

During 2007, SemBioSys successfully achieved commercial levels of both Apo AI and Apo AI(Milano) accumulation in safflower. The Company is currently conducting laboratory testing in an animal model to establish equivalent functionality in animals of safflower-produced Apo AI(Milano) to the Apo AI(Milano) that has already been successfully used in human clinical trials. The upcoming milestone events include:
- Completion of in vivo efficacy studies of cholesterol mobilization

with safflower-produced Apo AI and Apo AI(Milano)

- Completion of in vivo efficacy studies of plaque regression with

safflower-produced Apo AI(Milano)

- Initiation of formal partnering process for Apo AI and Apo AI(Milano)

upon receiving the initial in vivo efficacy results

- Initiation of the preparatory work in order to submit an IND to the

FDA for a Phase I clinical trial of Apo AI or Apo AI(Milano) in the

first half of 200
'/>"/>

0

GOOD

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13
Related biology technology :

1. SemBioSys GLA Partner Enters Strategic Alliance for the Sales and Marketing of GLA-Rich Safflower Oil
2. SemBioSys awarded key patent for the production of oleosome emulsions by the European Patent Office
3. SemBioSys to present at the 10th Annual BIO CEO & Investor Conference
4. SemBioSys signs option agreement for safflower-produced food ingredient
5. SemBioSys announces 2007 third quarter results
6. SemBioSys to present insulin data at the Seventh Annual Diabetes Technology Meeting
7. SemBioSys updates Apo AI development program
8. Medarex Announces Presentations at Annual Meeting of the American Association for Cancer Research
9. Apieron, Inc. Announces FDA Clearance of the Insight(TM) eNO System to Assist Physicians with Patient Asthma Management
10. BioMed Realty Trust Announces Increase in Quarterly Common Stock Dividend
11. Emisphere Technologies, Inc. Announces Conference Call for 2007 Fourth Quarter and Year End Financial Results

Post Your Comments:

SemBioSys announces 2007 financial and operation...(007 and an $8672040 (net of issue costs)...)