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SemBioSys signs insulin deal with Cangene Add to ...

SemBioSys Genetics Inc. has signed a technology transfer and manufacturing deal with Cangene Corp. under which Cangene will process and purify its plant-produced insulin.

Financial details of the agreement were not disclosed.

Under the deal, Cangene will manufacture insulin for SemBioSys' preclinical and early stage clinical development.

"Obtaining the services of a credible and reliable manufacturing organization like Cangene is a critical component of our clinical plan for insulin," stated SemBioSys president and CEO Andrew Baum.

"The execution of this contract is the second significant development milestone for our insulin program, following on our announcement this past July of successfully achieving commercially viable levels of insulin accumulation in safflower."

The technology transfer will allow Cangene to manufacture production of insulin from transgenic safflower. With manufacturing capacity in place, SemBioSys will complete its preclinical work and file an investigational new drug application in the fourth quarter of 2007.

Calgary-based SemBioSys develops biopharmaceuticals and non-pharmaceutical products based on plant genetic engineering skills.

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