- Canadian Biotechnology Company demonstrates the technical feasibility of
a second high-value biopharmaceutical in safflower -
TSX symbol: SBS
CALGARY, Nov. 1 /PRNewswire-FirstCall/ - SemBioSys Genetics Inc. (TSX:SBS), a biotechnology company developing a portfolio of therapeutic proteins for metabolic and cardiovascular diseases, today announced its 2007 third quarter operational and financial results.
- Successfully developed commercially viable levels of both
apolipoprotein AI (Apo AI) Milano variant and, subsequent to the end
of the quarter, native Apo AI accumulation in safflower seed.
- Continued the preclinical work necessary to submit an Investigational
New Drug application (IND) to the United States Food and Drug
Administration (FDA) in early 2008 to initiate a Phase II trial for
- Established Botaneco, a separate business unit dedicated to the
commercialization of SemBioSys' oilbody products for the cosmetics,
personal care and prescription topical dermatology markets.
- Commissioned the Company's commercial scale manufacturing operation
for the Botaneco business and subsequent to the end of the quarter
launched Hydresia(TM), Botaneco's first branded line of oilbody-based
- Obtained $2.4 million in non-dilutive development funding from AVAC
Ltd. to develop the Botaneco business, subsequent to quarter end.
- Entered into an agreement to complete a private placement financing
for total gross proceeds of approximately $9,568,000, of which
$6,500,000 was completed on a bought deal basis, subsequent to
- Appointed Mr. Ian S. Brown to the Board of Directors, subsequent to
quarter end. Mr. Brown is an independent businessman with ove
|SOURCE SemBioSys Genetics Inc.|
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