SemBioSys obtains rights to platform-enhancing technologies from Syngenta

By Lisa Kerner

Charlotte, N.C., June 13 - SemBioSys Genetics Inc. agreed to acquire technology assets and in-license intellectual property related to the manufacture of biopharmaceuticals in safflower from Syngenta Crop Protection AG.

The agreement provides SemBioSys with a license to Syngenta's proprietary safflower transformation technology and information related to the safflower genome sequence and structure.

"This technology will improve our productivity, expand our ability to make decisions earlier in the development process and allow us to accelerate new products into the clinic," president and chief executive officer Andrew Baum said in the release.

SemBioSys has issued warrants that allow Syngenta to purchase a total of 550,000 common shares of SemBioSys at an exercise price of $13.21 per share, based on two times the trading price per share on the 20 day average trading price prior to issuing the warrant.

The term of the warrants, to be listed on the Toronto Stock Exchange, is five years, according to a company news release.

Calgary, Alta.-based SemBioSys develops biopharmaceuticals and non-pharmaceutical products based on its plant genetic engineering skills and proprietary oilbody-oleosin technology platform, the Stratosome Biologics System.

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