SemBioSys provides update on shrimp feed additive, Immunosphere(TM)

    - Canadian Biotechnology Company's partner Aqua Bounty to scale back
    commitment to immunostimulatory feed additive program -

    TSX symbol: SBS

    CALGARY, May 16 /CNW/ - 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. (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 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 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., Mr. Andrew Baum,
President and Chief Executive Officer, Phone: [phone], Fax: (403)
250-3886, E-mail: [e-mail]; Internet: www.sembiosys.com; Investor
Relations, Ross Marshall, The Equicom Group Inc., Phone: [phone] (Ext.
238), Fax: [phone], E-mail: [e-mail]