New Joint Venture Focused on Multi-Million Dollar Short-Term Revenue
CALGARY, Feb. 2, 2012 /CNW/ - SemBioSys Genetics Inc. (TSX:SBS), today
announced that its product and platform development collaboration
agreement (the "Agreement") with Tasly Pharmaceutical Co., Ltd
("Tasly") of Tianjin, China, and its wholly owned subsidiary Tasly US
have received all necessary Chinese (People's Republic of China and
local Chinese Government) approvals and the business license for the
newly formed Company based in Tianjin, China, Tasly-SemBioSys
Bio-Pharmaceutical, Technology Co., Ltd., to commercialize near, medium
and long-term healthy living, nutritional, and pharmaceutical products
utilizing Tasly and SemBioSys' plant-based technology and expertise.
"Today's announcement is part of a larger strategic plan for SemBioSys
and Tasly to collaborate on a number of fronts," said James Szarko,
President and CEO of SemBioSys. "With this long approval process now
completed we will rapidly develop and commercialize a number of
exciting new products into Tasly's well established distribution
channels," he concluded.
The new Company is structured as a Sino-Foreign Equity Joint Venture
(the "Joint Venture"), and will develop and commercialize products for
China and the world. Development work on the first products and product
programs is already under way. Select products and programs that are
under evaluation or under development with a range of timelines are
Research and develop a new generation of Modern traditional Chinese
medicine (TCM) products utilizing oilbodies to develop and further
enhance TCM products. The total international TCM market is estimated
to be US$20 billion and Tasly's revenues are approximately US$1 billion
growing at in excess of 20% per annum.
Develop a line of functional food and beverages based on oilbodies that
result from SemBioSys' patented oil seed processing platform. The oil
and proteins are produced in a continuous cold system that does not
denature the oil and proteins, resulting in higher quality products
with greater market value than those currently produced using standard
heat and hexane extraction methods. The global functional food and
beverage market is estimated to exceed US$130 billion by 2015. Tasly
recently entered this exciting new market and believes its current
distribution provides huge upside growth potential in China based on
the results of its initial products.
Continue development of SemBioSys' protein feed additive for the global
aquaculture markets. China's market accounts for approximately 70% of
the global aquaculture market, which is estimated to be US$86 billion
Research and develop modified oils for nutritional health.
Continue development of plant produced insulin for China and the rest of
world. Initial program would explore growing requirements and
optimizing seed yield for Chinese agriculture.
Research projects related to the discovery and development of plant-made
pharmaceuticals and TCMs.
About Tasly and the Partnership
Tasly is one of China's largest pharmaceutical companies and is China's
2nd producer of TCMs, which are derived from plants. Its lead drug,
Tasly Cardiotonic Pill, is the #1 selling TCM in China for the past
seven years. In 2011, Tasly recorded revenues of 6.5 billion RMB with a
10 year compounded growth rate in excess of 20%. Tasly also has
operations in the United States, Africa, South East Asia, and the UK.
SemBioSys is a health and wellness company that utilizes its renewable,
patented plant seed oilbody and plant-based protein expression
technology platforms to develop and produce high-value proteins and
oils to make nutritional products and drug candidates.
SemBioSys is entitled to 30% ownership and profit sharing of the Joint
Ventures profits for contributing select intellectual property. Tasly
will contribute 100 per cent of the cost of the Joint Venture's global
research, development and product commercialization. Further, Tasly
will facilitate preclinical, clinical, regulatory services,
manufacturing and commercial expertise, and utilize its significant
sales force to commercialize the Joint Venture's products in China. Its
sales force covers approximately 25,000 Chinese hospitals, retail
pharmacies and direct to consumer markets with a total of 1,500
ABOUT TASLY PHARMACEUTICAL CO., LTD.
Tasly Pharmaceutical, based in Tianjin, China, was founded in May 1994.
Through its development, Tasly has become a high-tech group whose scope
of businesses include modern TCMs, chemical & biological drugs,
healthcare products, and functional foods. The Company has a large
research institute and oversees its own product development, planting,
manufacturing, commercial sales, and distribution. Tasly manufactures
and sells its traditional Chinese medicines, generic drugs, vaccines,
and personal care products in China and in several other countries
around the world. Tasly entered a drug-wholesaling Venture with the
UK's Co-operative Group in 2007. For more information about the
Company, please visit www.tasly.com.
ABOUT SEMBIOSYS GENETICS INC.
Calgary, Alberta-based SemBioSys is a health and wellness company that
utilizes its patented plant seed-based oilbody and genetic expression
technology platforms to develop high-value proteins, oils, and drug
candidates in oil seed plants. SemBioSys' seed-based protein and oil
expression system can enable unique and novel products and
exceptionally low cost of production with unprecedented scalability.
SemBioSys is focusing the platform through global partnerships to
develop healthy living, nutritional, and pharmaceutical products.
SemBioSys is listed on the Toronto Stock Exchange under the ticker SBS.
More information is available at www.sembiosys.com.
Forward Looking Statement and Disclaimer
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
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 fact
that the Company is a development stage entity and currently relies on
investment and not profits to fund it operations; the Company's ability
to continue to secure and attract future strategic and investment
capital; the Company's ability to continue to successfully development
its existing and future product candidates or commercialize them; the
Company's exposure to changing global market dynamics, addressable
markets and global regulatory environments required to register and
market its product candidates; the acceptance of IND's by the FDA in
respect of clinical studies; the submission of CTA's to the appropriate
European authorities; the successful initiation and timely and
successful completion of clinical studies; the establishment of future
corporate alliances and partnership;, 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. On June 17, 2011, at our Annual and Special Meeting of Shareholders,
shareholders unanimously approved a special resolution, approving an
amendment to the Company's articles of incorporation to consolidate its
issued and outstanding Common Shares. This provides the board of
directors of the Company the authority, in its discretion, prior to
June 17, 2012, to select the exact consolidation ration, provided that
(i) the ration may be no smaller than one post-consolidation Share for
every (8) pre-consolidation Common Shares and no larger than one
post-consolidation Share for every thirty (30) pre-consolidation Common
Shares, and (ii) the number of pre-consolidation Common Shares in the
ratio must be a whole number of common shares. There is no current plan
to effect such a Share Consolidation. However, if undertaken, the
Company's total market capitalization immediately after the proposed
consolidation may be lower than immediately before the proposed
consolidation. A decline in the Common Shares after a Share
Consolidation may result in a greater percentage decline than would
occur in the absence of a consolidation, and the liquidity of the
Common Shares could be adversely affected following such a
consolidation. In addition, the consolidation may result in some
shareholders owning "odd lots" of less than 100 Shares, on a
post-consolidation basis, which may be difficult or more expensive to
sell on a per share basis, than a round lot of shares. These are only
some of the risks associated with a potential Share Consolidation.
Further risks regarding the Company are set out in the annual
information form 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
SOURCE SemBioSys Genetics Inc.
For further information:
| SemBioSys Genetics Inc. |
President, U.S. and International Operations
Phone: (617) 447-8299
| || || TMX Equicom |
Senior Vice President
Phone: (416) 815-0700 ext. 238