SemBioSys enters into commercialization and supply agreement for plant-made chymosin protein
TSX symbol: SBS
In exchange for an upfront technology access fee, SemBioSys has granted INDEAR an exclusive royalty-bearing license to SemBioSys' technology in
"Chymosin is one of the first transgenic products developed by SemBioSys. INDEAR is an ideal partner to work with us to launch the product," said James Szarko, President and CEO of SemBioSys. "This transaction is an example of SemBioSys' strategy to partner existing non-pharmaceutical programs to accelerate commercialization without deviating from our core areas of focus: the development of Biosimilar Insulin and Apo AI(
Chymosin is a natural protein, historically derived from calves, used in the production of cheese. The majority of chymosin used today is produced via fermentation in E. coli or fungi. Using its proprietary plant expression system, SemBioSys has developed animal-free, kosher-quality chymosin and an extraction process that will allow for the production of chymosin in plants at a significantly reduced cost.
INDEAR is the R&D subsidiary of Bioceres, an Argentina-based investment management firm in the area of agricultural biotechnology. The Company's Molecular Farming interest involves technologies for large scale production of industrial enzymes using plant seeds as bioreactors. More information is available at www.indear.com.
This press release contains certain forward-looking statements, including, without limitation, statements containing the words, "will", "intend" and other similar expressions which constitute "forward-looking information" within the meaning of applicable 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, the interest which SemBioSys will receive in an entity resulting from the Third Party Transaction, the completion of the Third Party Transaction 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 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.For further information: SemBioSys Genetics Inc., Abby Garfunkel, Investor Relations, Phone: (403) 717-4185, E-mail: email@example.com; The Trout Group, Christine Labaree, Managing Director, Phone: (617) 583-1307, E-mail: firstname.lastname@example.org; The Equicom Group Inc., Ross Marshall, Vice President, Phone: (416) 815-0700 ext. 238, E-mail: email@example.com