TSX symbol: SBS
CALGARY, Jan. 29 /CNW/ - SemBioSys Genetics Inc. (TSX: SBS), a
biotechnology company developing a portfolio of therapeutic proteins for
metabolic and cardiovascular diseases, today announced that it has signed an
option agreement with The Instituto de Agrobiotecnologia Rosario S.A. (INDEAR)
based in Rosario, Argentina. INDEAR is a joint venture company formed by Bio
Sidus AG S.A. and Bioceres S.A. to develop manufacturing and development
capabilities for agricultural biotechnology products for South American
markets. Under the terms of the agreement, INDEAR will evaluate the utility of
using plant-produced chymosin for the production of cheese in South America.
As per the agreement, SemBioSys will receive an option fee and will be
eligible to collect an upfront license fee, possible milestone payments and
royalties or other form of profit-sharing in the event INDEAR chooses to
exercise their option.
"This agreement demonstrates the breadth of opportunity offered by our
plant-based technology platform. The cost advantages of producing insulin and
Apo AI in plants are also applicable to non-pharmaceutical products, in this
case chymosin as a protein-based food processing agent," said Andrew Baum,
President and CEO of SemBioSys. "Our work with chymosin is quite advanced and
we believe that it offers compelling economic advantages relative to
traditional sources of chymosin enzyme. We are excited at the prospect of
working with INDEAR to bring this product to market in South America, subject
to INDEAR's successful completion of their evaluation.
Chymosin, also called rennet, is a natural enzyme used in the production
of cheese obtained originally from calve stomachs. The majority of chymosin
used today is produced via fermentation. Using its proprietary plant
expression system, SemBioSys has developed safflower-produced chymosin and an
extraction process that it believes will allow for the production of chymosin
in plants at significantly lower costs.
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
animal health markets.
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.: Mr. Andrew Baum,
President and Chief Executive, Officer Phone: (403) 717-8767, Fax: (403)
250-3886, E-mail: firstname.lastname@example.org, Internet: www.sembiosys.com; Investor
Relations: Ross Marshall, The Equicom Group Inc., Phone: (416) 815-0700 (Ext.
238), Fax: (416) 815-0080, E-mail: email@example.com