- Canadian Biotechnology Company's partner Aqua Bounty to scale back commitment to immunostimulatory feed additive program - TSX symbol: SBS
CALGARY, May 16 /PRNewswire-FirstCall/ - SemBioSys Genetics Inc.
(TSX:SBS), a biotechnology company developing a portfolio of therapeutic
proteins for metabolic and cardiovascular diseases, today announced that its
joint development partner on the ImmunoSphere(TM) shrimp feed additive
program, Aqua Bounty Technologies Inc. (AIM: ABTX), has announced that it
intends to scale back marketing and registration efforts on its first
generation shrimp feed additive, IMS. SemBioSys is developing a second
generation shrimp feed additive product in safflower, ImmunoSphere(TM), that
has the potential to significantly reduce the manufacturing costs of the feed
additive.
"With this recent decision from Aqua Bounty related to its first
generation shrimp feed additive product, we intend to evaluate the impact it
has for our second generation product, ImmunoSphere(TM)," said Andrew Baum,
President and CEO of SemBioSys Genetics Inc. "Our safflower-derived
ImmunoSphere(TM) product offers a significant reduction to the cost of
production of immunostimulatory feed additives. We intend to evaluate all of
the available options prior to committing to next steps with this product
which targets a large potential market that has a significant unmet need."
The global shrimp industry represents an US$18 billion market. One of the
major challenges faced by commercial shrimp production is disease outbreak
which cost the shrimp aquaculture industry more than US$3 billion per year.
Immunostimulatory feed additives, like ImmunoSphere(TM), are designed to
provide prophylactic protection to shrimp production.
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
agricultural biotechnology markets. More information is available and can be
accessed at www.sembiosys.com.
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.
SOURCE SemBioSys Genetics Inc.
