- Canadian Biotechnology Company's partner Aqua Bounty to scale back
commitment to immunostimulatory feed additive program -
TSX symbol: SBS
CALGARY, May 16 /PRNewswire-FirstCall/ - SemBioSys Genetics Inc. (TSX:SBS), a biotechnology company developing a portfolio of therapeutic proteins for metabolic and cardiovascular diseases, today announced that its joint development partner on the ImmunoSphere(TM) shrimp feed additive program, Aqua Bounty Technologies Inc. (AIM: ABTX), has announced that it intends to scale back marketing and registration efforts on its first generation shrimp feed additive, IMS. SemBioSys is developing a second generation shrimp feed additive product in safflower, ImmunoSphere(TM), that has the potential to significantly reduce the manufacturing costs of the feed additive.
"With this recent decision from Aqua Bounty related to its first generation shrimp feed additive product, we intend to evaluate the impact it has for our second generation product, ImmunoSphere(TM)," said Andrew Baum, President and CEO of SemBioSys Genetics Inc. "Our safflower-derived ImmunoSphere(TM) product offers a significant reduction to the cost of production of immunostimulatory feed additives. We intend to evaluate all of the available options prior to committing to next steps with this product which targets a large potential market that has a significant unmet need."
The global shrimp industry represents an US$18 billion market. One of the major challenges faced by commercial shrimp production is disease outbreak which cost the shrimp aquaculture industry more than US$3 billion per year. Immunostimulatory feed additives, like ImmunoSphere(TM), are designed to provide prophylactic protection to shrimp production.
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 statements reflect the Company's current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, changing market conditions, the successful and timely completion of clinical studies, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process and other risks detailed from time-to-time in the Company's ongoing filings with the Canadian securities regulatory authorities which filings can be found at http://www.sedar.com. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable Canadian securities laws.
|SOURCE SemBioSys Genetics Inc.|
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