SemBioSys announces senior management changes

    CALGARY, Jan. 12 /CNW/ - The Board of Directors of SemBioSys Genetics
Inc. (TSX:SBS), a biotechnology company developing protein pharmaceuticals in
crop plants, today announced that current President and CEO Andrew Baum has
been appointed to the new position of President and CEO of Botaneco Specialty
Ingredients Inc., a SemBioSys subsidiary. James Szarko, currently the
corporation's Chief Financial Officer, has been named the new President and
Chief Executive Officer of SemBioSys, effective immediately. Mr. Szarko, in
collaboration with the Company's internal financial team, will continue as
finance lead at SemBioSys. Dr. Maurice Moloney, Company Founder and Chief
Scientific Officer, Dr. Bruce Given, acting Chief Medical Officer, and Dean
Brown, VP of Business Development, will all continue in their current roles
with the Corporation.
    "With the significant progress that we have made at SemBioSys and the
aggressive growth of our Botaneco subsidiary, this change allows us to ensure
that we have key leadership in these critical roles as we work to unlock the
potential of both platforms in our business," said Richard Smith, Chairman of
SemBioSys. "James' knowledge of our business makes him the natural successor
from the Board's perspective. His outstanding leadership skills, coupled with
his performance over the past four years as Chief Financial Officer of
SemBioSys and sound fiscal judgment, make him the ideal candidate to lead the
strong executive and management team which the Company now has in place. Also
on behalf of the Board of Directors, I would like to thank Andrew for his
service and commitment to SemBioSys. His leadership was essential in helping
us bring our plant-produced insulin forward into clinical trials and to
initiate the negotiations now underway for our insulin and Apo AI candidates."
    James Szarko joined SemBioSys in September 2004 as Chief Financial
Officer. He has 23 years of business and leadership experience in various
roles as a Chartered Accountant, management consultant and an executive. Prior
to joining SemBioSys, Mr. Szarko provided consulting and financial management
services to early stage growth companies primarily in the technology area. He
also held a senior position with a large public company. Mr. Szarko began his
career at PricewaterhouseCoopers LLP where he advanced to the position of
senior manager which included a three year international assignment. Mr.
Szarko is currently a member of the Advancement Committee to the Board of
Governors of the University of Lethbridge and has served on various boards and
committees in both the profit and non-profit sectors.
    "We believe with insulin and Apo AI that we have only begun to exploit
the proprietary protein production platform that we have developed at
SemBioSys. We recognize that it represents a major breakthrough in the
production of high volume pharmaceutical products at a low cost and enables
the development of molecules that would be uneconomical in other systems,"
said James Szarko, CA, newly appointed president and chief executive officer
of SemBioSys. "We have also built a phenomenally talented team at all levels
of the organization, which will enable us to succeed in these difficult
markets and economic times. We shall focus our efforts on fiscal prudence and
achievement of near-term development and clinical milestones within our
insulin and Apo AI programs. This will enable us to partner these programs and
initiate new programs to build the Company's pipeline."
    "With the initiation of our clinical trial for plant-produced insulin and
the progress we made at SemBioSys with MannKind, Inc. on the business
development front, now is the appropriate time for me to transition to
Botanceo full-time. I am excited by the opportunity to apply my
entrepreneurial skills to build a strong team and grow the oilbody business at
Botaneco which I believe has great potential upside to offer SemBioSys," said
Andrew Baum, president and chief executive officer of Botaneco.

    About SemBioSys

    Calgary, Alberta-based SemBioSys is a biotechnology company developing
protein-based pharmaceuticals using its proprietary protein production
technology. This technology enables the production of therapeutic proteins in
plant seeds by genetically enhancing the safflower plant. SemBioSys' lead
pharmaceutical candidates are recombinant human insulin, which is intended to
serve the rapidly expanding global diabetes market, and Apo AIMilano. Apo
AIMilano is a variant of Apo AI, the major protein associated with high
density lipoprotein (HDL), or "good cholesterol", whose function is to remove
excess cholesterol from arteries. In addition to its pharmaceutical products,
SemBioSys' subsidiary, Botaneco Specialty Ingredients Inc., is selling
oleosome-based all natural products in the global personal care ingredient
market. More information is available and can be accessed at

    About Botaneco Specialty Ingredients Inc.

    Botaneco is the global developer and marketer of innovative
oleosome-based ingredients to the personal care and OTC topical markets. As a
technologically driven provider of high performance, proprietary
oleosome-based ingredients, Botaneco is committed to developing innovative
ingredients that offer multifunctional, tangible and documented benefits to
both formulators and consumers. Botaneco's head office and manufacturing
facility is located in Calgary, Canada and its satellite office in Bensalem,
PA. More information is available and can be accessed at

    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, changing market
conditions and market size, the acceptance of an IND by the FDA in respect of
clinical studies, the submission of a CTA to the appropriate European
authorities, the successful initiation and timely and successful completion of
clinical studies, the fact that Apo AI is currently a development stage drug,
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 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

For further information:

For further information: SemBioSys Genetics Inc., James Szarko, CA,
Chief Executive Officer, Phone: (403) 717-8787, E-mail:;
The Trout Group, Christine Labaree, Managing Director, Phone: (617) 583-1307,
E-mail:; The Equicom Group Inc., Ross Marshall, Vice
President, Phone: (416) 815-0700 ext. 238, E-mail:

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