SemBioSys announces first quarter 2008 financial and operation...(sulin - Completion of the productio...)

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

in Phase I/II human clinical trials

- Upon FDA approval, 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

In 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 published values for Apo AI(Milano) that has 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(Milano)

- Completion of in vivo efficacy studies of plaque remodeling with

safflower-produced Apo AI(Milano) followed by studies of plaque

regression

- Initiation of a formal partnering process for Apo AI and

Apo AI(Milano) upon receiving the initial in vivo efficacy results

In addition to its pharmaceutical milestones, the Company is also advancing the development of its non-pharmaceutical products. The upcoming milestone events expected from these programs include:

- Expansion of the commercial distribution of the Company's personal

care topical oilbody products, specifically Hydresia(TM) and

Hydresia(TM) G2, through Botaneco, including Europe

- Collection of milestone payments from Arcadia Biosciences, Inc., upon

their successful commercial scale-up of High GLA Safflower Oil

- Initiation of pond trials for the Company's shrimp feed additive,

ImmunoSphere(TM)

"During the quarter, we took an important step that should allow
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