SemBioSys Genetics Inc. obtains up to $1.5 million in funding from AVAC

    CALGARY, May 4 /CNW/ - SemBioSys Genetics Inc. (TSX:SBS), specializing in
the manufacture of high-value proteins and oils in plant seeds, today
announced that it has reached an agreement with AVAC Ltd. for a $1.5 million
loan for the development of its Apo AIMilano candidate. AVAC is a private,
not-for-profit company that invests in research initiatives and early stage
commercial businesses that expand Alberta's value-added industry.
    The funds will be advanced with an upfront payment followed by two
smaller installments based on the execution of short term Apo AIMilano
development milestones expected to be completed by January 2010. The funds are
repayable at the end of 18 months with interest.
    "This funding comes at a very important time as it will contribute
towards the achievement of near-term objectives for our Apo AIMilano candidate
and allow us to leverage additional funding opportunities," said James Szarko,
President and CEO of SemBioSys Genetics Inc. "AVAC's continued support
reflects the shared vision of our enabling technology platform and its
applicability to biopharmaceuticals like Apo AIMilano. This next-generation
drug has the potential to meet a very large unmet need in cardiovascular
disease. The terms of the funding provide us sufficient time to execute
substantial value-generating milestones for this promising program."
    "AVAC has very high hopes for SemBioSys' technology platform and has been
a strong supporter of the Company since 2001. The Apo AIMilano product has
true blockbuster potential and will provide the medical community with new
tools to address the debilitating and potentially life-threatening
consequences of atherosclerosis," says Jim Hardin, AVAC Investment Manager.
    "In addition to its direct investments in early-stage companies, AVAC
also participates in commercially-relevant agricultural research and we are
the leading early-stage venture capital fund-of-fund investor in Alberta,"
said Ross Bricker, AVAC President and CEO. "Since 1997, with the support of
the Alberta and Canadian Governments, we have invested in and provided
guidance to over 110 early-stage companies who have reported more than $340
million in aggregate sales to date that can be directly attributed to AVAC

    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

    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 AIMilano 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 laws.

For further information:

For further information: SemBioSys Genetics Inc., Abby Garfunkel,
Investor Relations, Phone: (403) 717-4185, 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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