Replies to post #81577 on Biotech Values

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SemBioSys completes public offering

/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
NEWSWIRE SERVICES/

TSX symbol: SBS

CALGARY, July 24 /CNW/ - SemBioSys Genetics Inc. ("SemBioSys" or the
"Corporation") today announced that it has completed its previously announced
public offering (the "Offering") of 11,865,341 units ("Unit") at a price of
$0.35 per Unit (the "Offering Price") for total gross proceeds to SemBioSys of
$4,152,869.35. SemBioSys intends to use the net proceeds of the Offering to
fund the ongoing development of its Apo AI(Milano) and Biosimilar Insulin
programs.
Each Unit is comprised of one common share of the Corporation ("Common
Share") and one Common Share purchase warrant ("Warrant"). Each Warrant
entitles the holder to purchase one Common Share for 36 months after the
closing of the Offering at a price of $0.55 per Common Share.
The Offering was led by Acumen Capital Finance Partners Limited and PI
Financial Corp. (the "Agents"). SemBioSys has granted the Agents compensation
options equal to 6.0% of the number of Units sold under the Offering. Each
compensation option will entitle an Agent to purchase one Unit until July 24,
2011 at the Offering Price of $0.35.
SemBioSys may hold one or more additional closings until the earlier of
the maximum offering being subscribed for or August 19, 2009.
This press release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the United States. The securities
have not been and will not be registered under the United States Securities
Act of 1933, as amended (the "U.S. Securities Act") or any state securities
laws, and may not be offered or sold within the United States or to, or for
the account or benefit of, a person in the United States or a "U.S. person"
(as defined in Regulation S under the U.S. Securities Act) except in
transactions exempt from the registration requirements of the U.S. Securities
Act and applicable state securities laws.

About SemBioSys

SemBioSys is a biotechnology company that is using its proprietary
technology to develop high-value proteins (including protein-based
pharmaceuticals) and nutritional and industrial oils. Our lead pharmaceutical
candidates, produced in the plant host safflower, are Apo AI(Milano), a
potential next generation cardiovascular drug, and recombinant, Biosimilar
Insulin to serve the rapidly expanding global diabetes market. We have also
demonstrated our platform's applicability in the production of
non-pharmaceutical proteins and oils. SemBioSys continues to evaluate
opportunities where its proprietary platform technology offers a unique
competitive advantage to the production and manufacture of difficult to
produce proteins and oils. More information is available at www.sembiosys.com.
The contents of this website are expressly not incorporated into this press
release by reference.

This press release contains certain forward-looking statements,
including, without limitation, statements containing the words "may", "will",
"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, the use of the net proceeds of the Offering, the distribution of
the Units after the initial closing of the Offering, the fact that Apo
AI(Milano) is currently a development stage drug 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 securities laws.



For further information: SemBioSys Genetics Inc., Abby Garfunkel,
Investor Relations, Phone: [phone], E-mail: [e-mail];
The Trout Group, Christine Labaree, Managing Director, Phone: [phone],
E-mail: [e-mail]; The Equicom Group Inc., Ross Marshall, Vice
President, Phone: [phone] ext. 238, E-mail: [e-mail]
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