SemBioSys' Founder and CSO recognized for Innovation in Biotechnology

    TSX symbol: SBS

    - Maurice Moloney, Ph.D. receives ASTech Award for outstanding
    contribution to science and technology in Alberta -

    CALGARY, Oct. 24 /CNW/ - SemBioSys Genetics Inc. (TSX:SBS), a
biotechnology company developing a portfolio of therapeutic proteins for
metabolic and cardiovascular diseases, today announced that its Founder and
Chief Scientific Officer, Dr. Maurice Moloney, received the ASTech Award for
Innovation in Agricultural Science, sponsored by AVAC Ltd. and Dow
AgroSciences Canada Ltd., at the 2007 ASTech Gala held on October 19, 2007 in
Calgary, Alberta.
    "Dr. Moloney's contributions to the scientific and agricultural sectors
in Alberta make him a deserving recipient of this award. Maurice is truly one
of the great plant molecular biologists of our generation," said Ross Bricker,
President and CEO, AVAC Ltd. "The innovative plant seed oilbody technology
that Maurice developed has the potential to fundamentally transform the
economics and manufacturing of pharmaceutical proteins like insulin and Apo
AI. His foresight to build a broad patent portfolio around their oilbody
technology positions SemBioSys as a leader in the development of plant-made
pharmaceuticals."
    Dr. Moloney founded SemBioSys in 1994 and has been the Company's Chief
Scientific Officer since July 2001. Dr. Moloney held the Natural Sciences and
Engineering Research Council of Canada (NSERC) Industrial Research Chair in
Plant Biotechnology from 1995 to 2003 and has been a professor in the
Department of Biological Sciences at the University of Calgary since 1987. Dr.
Moloney has published more than 70 original research papers and is an inventor
on over 25 issued or pending patent families. He received his B.Sc. in Organic
Chemistry from Imperial College at the University of London and his doctorate
in Plant Biochemistry from Leicester Polytechnic in the United Kingdom.
    The AVAC / Dow AgroSciences / ASTech Award is presented to an individual,
team of individuals, or company having demonstrated exceptional innovation or
having developed a technology of significance to Alberta's agriculture,
agrifood, and agrivalue(TM) industries.

    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.

    About ASTech (ww.astech.ab.ca)

    The Alberta Science and Technology (ASTech) Leadership Foundation was
created to celebrate the achievements of science and technology in Alberta.
The foundation is a private, non-profit society supported by 19 patron
organizations from the private and public sectors, all with a shared interest
in showcasing the excellence in Alberta's science and technology community.
ASTech is the premiere organization in Alberta that works to generate
widespread public awareness for these worthy achievements in science and
technology.

    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.

    %SEDAR: 00020947E

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: bauma@sembiosys.com, Internet: www.sembiosys.com; Investor
Relations: Ross Marshall, The Equicom Group Inc., Phone: (416) 815-0700 (Ext.
238), Fax: (416) 815-0080, E-mail: rmarshall@equicomgroup.com