CALGARY, April 30, 2008 /PRNewswire-FirstCall via COMTEX/ -- Botaneco, a wholly-owned subsidiary of SemBioSys Genetics Inc., today announced that it has signed a feasibility agreement with Croda Enterprise Technology, part of Croda International Plc, an international manufacturer of speciality ingredients with 2007 sales of pnds stlg 886.1m. Croda will evaluate the ability of Botaneco's technology platform to improve the stability and versatility of Echium Plantagineum (Echium) oil, a speciality oil containing omega-3 fatty acids. Under the terms of the agreement, Botaneco will provide Croda with material for purposes of chemical and functional analysis, and to determine the viability of a commercial-scale manufacturing process.
"This feasibility agreement with Croda demonstrates the breadth of products and opportunities we can offer our customers and partners with Botaneco's technology platform," said Andrew Baum, President and CEO of SemBioSys. "We believe that the potential of our platform to improve the stability of oils and other labile materials expand the utility and opportunity for Croda's Echium oil in food, dietary supplements and personal care applications. We expect to complete the study and provide Croda with a defined process for manufacturing commercial amounts of material by the end of 2008."
Echium oil contains stearidonic acid, which is effectively metabolized to eicosapentanoic acid (EPA). EPA has been shown to reduce the risk of coronary heart disease and provide anti-inflammatory benefits in both topical and oral formulations.
Botaneco 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 groundbreaking ingredients that offer multifunctional, tangible and documented benefits to both formulators and consumers. Botaneco's manufacturing facility is located in Calgary, Canada while its sales and marketing and research and development laboratories are in Bensalem PA. More information is available and can be accessed at www.botaneco.ca.
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 animal health markets. More information is available and can be accessed at www.sembiosys.com.
About Croda International Plc
Croda International is a UK-based manufacturer of speciality ingredients derived mainly from naturally occurring and renewable raw materials. The market-driven company is renowned for its scientific and technological focus, supplying innovative and sustainable ingredients to global consumer care and industrial specialities markets. Its broad product range includes skin, hair and sun care actives, proteins and derivatives, high purity lipid concentrates, lanolins, and polymeric surfactants used in many personal care, home care, health care and crop care applications. Globally Croda International Plc had sales of pnds stlg 886.1m (USD1.76b) in 2007, and recorded a pre-tax trading profit of pnds stlg 60.9m (USD121.2m) for continuing operations. The group employs over 3700 people worldwide, with an extensive sales and distribution network covering more than 60 countries. www.croda.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.