25 years of financial and capital markets experience who presently
sits on the Boards of several public and private companies.
"We continue to demonstrate momentum across both our pharmaceutical and non-pharmaceutical pipeline products, highlighted by our two successful announcements on the commercial levels of native Apo AI and Apo AIMilano accumulation in safflower. Additionally, we continue to work on the preclinical development of safflower-produced insulin in preparation for our IND submission and our planned Phase II trial which we expect to initiate in 2008," said Andrew Baum, President and CEO of SemBioSys Genetics Inc. "We have now clearly established the technical viability of our oilbody-oleosin technology to produce commercial biopharmaceuticals that target large markets in diabetes and cardiovascular disease management. On the non-pharmaceutical side, we have commissioned the commercial manufacturing for our oilbody product and expect to generate modest revenue in the fourth quarter of 2007."
Please note that prior to the third quarter of 2007, SemBioSys operated under one segment. During the quarter, Botaneco completed the construction of its manufacturing facility and SemBioSys began operating in two reportable segments: (i) the Biopharmaceutical, Animal Health, and Nutritional Oils segment focused on the Company's lead pharmaceutical candidates, recombinant human insulin and Apo AI, in addition to its animal health product, ImmunoSphere(TM) and nutritional oils, DHA and GLA and (ii) the Specialty Ingredients segment which will manufacture and market branded lines of naturally derived base emulsions and delivery systems used in the development of cosmetics, personal care, prescription topical/dermatology, and food products through the Botaneco business unit.
Total revenue for the three-month and nine-month periods ended
September 30, 2007 were $38,629 and $1,045,467 respectively, compared with
|SOURCE SemBioSys Genetics Inc.|
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