Botaneco receives up to $3.6 million Agri-Opportunities funding from Agriculture and Agri-Food Canada

Published in Health and Fitness on Wednesday, May 13th 2009 at 4:09 GMT, Last Modified on 2009-11-02 11:51:11 by Market Wire
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CALGARY, May 13 /CNW/ - SemBioSys Genetics Inc. (TSX:SBS), specializing in the manufacture of high-value proteins and oils in plant seeds, announced today that its subsidiary, Botaneco Specialty Ingredients Inc., has been notified that a repayable contribution of up to $3,630,000 was approved by Agriculture and Agri-Food Canada under their Agri-Opportunities program. The Agri-Opportunities program will fund up to one-third of the eligible expenditures made by Botaneco over a two-year project which began in the first quarter of 2009. "This non-dilutive funding from the Agri-Opportunities program will support the continued expansion of Botaneco's manufacturing capabilities in Calgary. Increasing capacity and optimizing production efficiencies will allow Botaneco to meet the growing demand for its innovative all-natural ingredients for personal care products," said James Szarko, Chief Executive Officer of SemBioSys. "As part of this project, Botaneco will investigate new sources of safflower seed in Canada and develop new products that offer benefits to formulators and manufacturers in the personal care industry." The funding bears no interest and Botaneco anticipates repayment to begin in 2013, through equal installments over a five year period. The funds will also support the expansion of Botaneco product sales into new international markets. 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 [ www.sembiosys.com ]. About Botaneco Botaneco, a subsidiary of SemBioSys, 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 [ www.botaneco.ca ]. 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: SemBioSys Genetics Inc., Abby Garfunkel, Investor Relations, Phone: (403) 717-4185, E-mail: [ garfunkela@sembiosys.com ]; The Trout Group, Christine Labaree, Managing Director, Phone: (617) 583-1307, E-mail: [ clabaree@troutgroup.com ]; The Equicom Group Inc., Ross Marshall, Vice President, Phone: (416) 815-0700 ext. 238, E-mail: [ rmarshall@equicomgroup.com ]

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