SemBioSys provides update on insulin program



    CALGARY, April 1 /CNW/ - SemBioSys Genetics Inc. (TSX:SBS), specializing
in the manufacture of high-value proteins and oils in plant seeds, provides an
update on its proprietary plant-produced recombinant human insulin program. In
December 2008, SemBioSys announced that MannKind Corporation purchased a
non-refundable option to license rights to SemBioSys' proprietary
plant-produced recombinant human insulin to be used primarily for AFRESA(TM),
MannKind's ultra-rapid acting insulin product. At the time the option was
taken, MannKind had completed diligence related to the SemBioSys insulin
program and final written agreements had been prepared for execution, were the
option to be exercised. In March 2009, MannKind announced that it had entered
into agreements with Pfizer Inc. "to purchase Pfizer's insulin facility at
Industriepark Hoechst, Frankfurt am Main, Germany and assets related to the
production of bulk insulin, including the relevant real property rights, the
production equipment, a quantity of bulk insulin and a license to manufacture
bulk insulin for use in pulmonary delivery." The option period for SemBioSys'
agreement with MannKind expired yesterday without action and SemBioSys is now
free to execute agreements relating to its insulin program with other parties.
    Also in March 2009, SemBioSys reported results from the Phase I/II trial
of its recombinant human insulin (SBS-1000) in human volunteers. SBS-1000 was
shown to be bioequivalent to Eli Lilly's Humulin(R) R, a widely-used human
insulin in North America.
    "Based on prior discussions with third parties, we believe that our
recent clinical trial results position us well to continue and expand our
partnership discussions," said James Szarko, Chief Executive Officer of
SemBioSys. "While the MannKind option was attractive from a timing point of
view, and provided a valuable cash infusion, additional partnering options may
be open to us now that we have positive clinical data for plant-made insulin."

    About SemBioSys

    Calgary, Alberta-based SemBioSys is a world leader in manufacturing
high-value proteins and oils in plant seeds. With its unique, proprietary
platform, SemBioSys provides partners with product enablement, exceptionally
low cost and unprecedented scalability. The Company applies this platform with
high selectivity to opportunities where it has a unique competitive advantage.
Since its inception, SemBioSys has produced more than 50 non-native proteins
and oils using its patented seed technology, demonstrating applicability
across a broad range of industries such as pharmaceuticals, personal care and
industrial products. The Company's current pharmaceutical development programs
include insulin (SBS-1000, regulated as a biosimilar in Europe) and Apo
AIMilano, a next-generation cardiovascular therapy. SemBioSys is listed on the
Toronto Stock Exchange under the ticker SBS. More information is available 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:

For further information: SemBioSys Genetics Inc., Abby Garfunkel,
Investor Relations, Phone: (403) 717-4185, E-mail: garfunkela@sembiosys.com;
The Trout Group, Christine Labaree, Managing Director, Phone: (617) 583-1307,
E-mail: clabaree@troutgroup.com; The Equicom Group Inc., Ross Marshall, Vice
President, Phone: (416) 815-0700 ext. 238, E-mail: rmarshall@equicomgroup.com

Organization Profile

SemBioSys Genetics Inc.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890