SemBioSys announces 2007 third quart...( - Canadian Biotechnology Company dem...)

- 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.

Highlights

- 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

safflower-produced insulin.

- 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

ingredients.

- 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

quarter end.

- Appointed Mr. Ian S. Brown to the Board of Directors, subsequent to

quarter end. Mr. Brown is an independent businessman with ove
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