Posted on: Mon, 01 Feb 2010
SemBioSys Genetics Inc. (TSX: SBS | PowerRating) today announced that its Biosimilar Insulin program was featured last night on CTV National News and this morning on Canada AM. The news story and interview highlighted the Company’s innovative plant-based production technology for the highly scalable, cost-effective manufacture of Biosimilar Insulin (SBS-1000). In March 2009, SemBioSys announced that in a phase I/II trial SBS-1000 was deemed bioequivalent to Eli Lilly’s Humulin(R) R, a commercially available human insulin.
“Plants have been a source of medicine for thousands of years. The innovative nature of our plant-produced platform is drawing interest from pharmaceutical companies due to its ability to provide a low cost insulin alternative for patients that suffer from this chronic disease,” said James Szarko, President and CEO of SemBioSys Genetics Inc. “We have received new, and renewed, interest from counterparties that could potentially become international commercialization partners for our Biosimilar Insulin. We are particularly focused on developing world markets where cost-effective insulin enables access to this life-saving therapy.”
The International Diabetes Federation estimates that that 285 million people around the world have diabetes, with an additional 7 million people developing diabetes each year. Four out of five individuals with diabetes live in middle- to low-income countries, with 94 million individuals with diabetes living in India and China alone.
Calgary, Alberta-based SemBioSys is focused on leveraging its unique proprietary platform to manufacture high-value proteins and oils. SemBioSys’ seed-based protein production system can provide for its partners product enablement, exceptionally low cost and unprecedented scalability. SemBioSys is applying the platform with high selectivity to products with tremendous clinical promise and value potential. The Company’s current pharmaceutical development programs include insulin (SBS-1000, regulated as a biosimilar in Europe) and Apo AI(Milano), a next-generation cardiovascular therapy. SemBioSys is listed on the Toronto Stock Exchange under the ticker SBS. More information is available at http://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 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(Milano) 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 http://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.