Calgary, Alberta
April 30, 2003

Funding advances development of the StratoCapture™ Protein Purification Technology Platform

SemBioSys Genetics Inc. and AVAC Ltd. announced today that AVAC Ltd will invest up to $2.5 MM (Cdn) in SemBioSys.  The AVAC funding will be used to complete development of SemBioSys’ StratoCapture™ Protein A Purification System. SemBioSys’ research has the potential to significantly alter the cost structure for purification of antibodies, which could result in their wider application for medical and health products. Ultimately, this technology could turn specialized crops into efficient industrial pharma-factories. 

This is the second investment AVAC has made in SemBioSys.  AVAC’s first investment, in June 2000, supported the development of SemBioSys’ antibody program.  “AVAC’s new investment will allow SemBioSys to ensure we are fully capable of developing our StratoCapture™ Protein A Purification Technology” said Andrew Baum, SemBioSys’ President and Chief Executive Officer.  “Our first project with AVAC was very successful, and we look forward to working with AVAC on this second one.”

“By impacting the manufacturing cost of purified antibodies, SemBioSys will improve their availability for use in a variety of health and medical applications.” said Ross Bricker, Senior

Investment Manager at AVAC Ltd. “SemBioSys is at the forefront of developing technologies that add value to Alberta’s agricultural commodities. AVAC is pleased to support SemBioSys in the development of cost effective technologies to transform oilseeds into bioproducts for the health sector.”

SemBioSys is using a variety of genetic engineering technologies to express proteins in safflower seeds.  SemBioSys’ Stratosome™ Biologics System is an enabling technology that allows for the attachment of proteins to oilbodies ― natural oil storage organelles found in oilseeds ― through either direct targeting or affinity capture.  Taking advantage of the simple physical principle that oil is lighter than water, oilbodies can be easily separated from the majority of other seed components.  Combined with low-cost bulk production of plant-based systems, SemBioSys provides a cost-effective solution for bulk protein production, purification and in some cases formulation.  SemBioSys operates a pilot manufacturing facility in Calgary that can deliver oilbody-based products and purified protein at scale. 

Calgary, Alberta-based SemBioSys Genetics Inc. is a privately held biotechnology company focused on the development of high-value protein and oilbody-based products using its proprietary oilbody-based technology ― the Stratosome™ Biologics System.  Spun-out of the University of Calgary in 1996, the company’s investors include Bay City Capital, Dow AgroSciences Canada Inc., Ventures West, Business Development Bank of Canada, University Technologies International, Royal Bank Capital Partners and Maurice Moloney, Ph.D., scientific founder and Chief Scientific Officer.  SemBioSys has established partnerships with Syngenta, Metabolic Pharmaceuticals, a multinational fine chemical manufacturer and several pharmaceutical companies. The company has also received extensive support from Industry Canada’s Technology Partnership Canada program.

AVAC Ltd. Is a not-for-profit company dedicated to accelerating the growth of agrivalue™ in Alberta. AVAC invests in innovation ideas that add value to agricultural commodities through coaching, knowledge, contacts and financial resources. AVAC’s mission is to help accelerate the growth of agrivalue in Alberta. Created in 1997, AVAC has to date committed over $20MM to agrivalue initiatives.

Stratosome and StratoCapture are trademarks of SemBioSys Genetics Inc. Agrivalue is a trademark of AVAC Ltd.