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SemBioSys announces first quarter 2008 financial and operational results
Date:5/9/2008

ogress further along the commercialization path, the Company initiates partnership activities and augments its product candidate pipeline.

Net loss for the three-month period ended March 31, 2008 was $5,017,055 or $0.19 per share, compared to a net loss of $3,228,411 or $0.17 per share for the three-month period ended March 31, 2007.

As of March 31, 2008 the Company had cash and cash equivalents totaling $16,284,778 and a net positive working capital balance of $15,260,129 compared to $20,444,013 and $19,518,408, respectively, at December 31, 2007. Total long-term debt at March 31, 2008 was $1,930,962 compared with $1,389,047 at December 31, 2007.

As at March 31, 2008 the Company had 25,937,476 common shares outstanding, 4,322,000 warrants, and 1,282,429 options.

About SemBioSys Genetics Inc. (http://www.sembiosys.com)

Calgary, Alberta-based SemBioSys Genetics Inc. is a biotechnology company developing protein-based pharmaceuticals for metabolic and cardiovascular diseases. The Company's lead pharmaceutical candidates, produced in the plant host safflower, are recombinant human insulin to serve the rapidly expanding global diabetes market and Apo AI, a next generation cardiovascular drug. In addition to its pharmaceutical products, SemBioSys is developing a series of non-pharmaceutical products addressing human topical, nutritional oils and agricultural biotechnology markets. More information is available and can be accessed at http://www.sembiosys.com.

This press release contains certain forward-looking statements, including, without limitation, statements containing the words "believe", "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect" and other similar expressions which constitute "forward-looking information" within the meaning of applicable Canadian securities laws. Forward-looking stat
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SOURCE SemBioSys Genetics Inc.
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Related biology technology :

1. SemBioSys receives milestone payments from AVAC Ltd.
2. SemBioSys initiates toxicology study for safflower-produced insulin
3. SemBioSys announces 2007 financial and operational results
4. SemBioSys GLA Partner Enters Strategic Alliance for the Sales and Marketing of GLA-Rich Safflower Oil
5. SemBioSys awarded key patent for the production of oleosome emulsions by the European Patent Office
6. SemBioSys to present at the 10th Annual BIO CEO & Investor Conference
7. SemBioSys signs option agreement for safflower-produced food ingredient
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9. SemBioSys to present insulin data at the Seventh Annual Diabetes Technology Meeting
10. SemBioSys updates Apo AI development program
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