Botaneco Announces $4,000,000 Financing

June 30, 2008 - Calgary, AB - Botaneco Specialty Ingredients Inc. ('Botaneco'), a wholly-owned subsidiary of SemBioSys Genetics Inc. ('SemBioSys'), today announced that it has entered into an agreement for a $4.0 million convertible debenture financing with Avrio Ventures Limited Partnership ('Avrio Ventures'). Along with $2.4 million previously committed from AVAC Ltd., the funding will be used to accelerate Botaneco's commercialization of Hydresia(TM) products that target the personal care and topical ingredients markets. In consideration of prior investments made, SemBioSys received debentures from Botaneco totaling $5 million. Excluding the SemBioSys debentures, the transaction assigned Botaneco a pre-money valuation of $12.5 million.

"This transaction provides Botaneco with the financial resources
necessary to aggressively pursue opportunities in the personal care,
over-the-counter (OTC) and topical pharmaceutical markets completely
independent of SemBioSys. This is the latest in a series of steps we have made to provide Botaneco with the technology, people and capital to operate as a separate entity and achieve its full potential. It also allows SemBioSys to focus its resources specifically on our pharmaceutical pipeline," said Andrew Baum, president and chief executive officer of SemBioSys. "Dozens of companies are now developing consumer products with Hydresia(TM), and we expect to see a further array of product launches based on these ingredients in the coming quarters."

Hydresia(TM), a natural product, is derived from safflower seeds and
offers unique functionality and aesthetic properties without compromising
performance. Strategically positioned to lead the natural personal care
movement, Hydresia(TM) is an effective replacement for synthetic, petroleum-and animal-derived ingredients in a variety of product categories.

"The company's proven products and established relationships with
personal care consumer companies, combined with its robust technology platform and seasoned management team, create a strong competitive advantage," said Aki Georgacacos, Partner of Avrio Ventures and new board member of Botaneco. "The double-digit annual growth in the natural personal care segment makes it one of the fastest growing markets for global personal care products. The company's oleosome technology is well positioned to capitalize on this trend away from petroleum and other synthetic ingredients. We are very excited to assist Botaneco in both expanding its ability to meet the growing demand for its existing products as well as to exploit opportunities for further product development in the topical OTC market."

AVAC, Avrio Ventures and SemBioSys have agreed to allow other investors
to participate in the convertible debenture financing through subsequent
subscriptions for a period of 120 days, up to a maximum of $4.5 million in
additional proceeds.

About Botaneco Specialty Ingredients Inc.

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 innovative ingredients that offer multifunctional, tangible and documented benefits to both formulators and consumers. Botaneco's head office and manufacturing facility is located in Calgary, Canada and its satellite office in Bensalem PA. More information is available and can be accessed at www.botaneco.ca.

About SemBioSys Genetics Inc.

Calgary, Alberta-based SemBioSys Genetics Inc. is a biotechnology company developing protein-based pharmaceuticals for metabolic and cardiovascular diseases. The Company's technology platform allows for the production of pharmaceutical proteins in an easily scalable, very low cost (in terms of both capital and COGS) manner. 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(Milano), a next generation cardiovascular drug. SemBioSys also owns Botaneco Specialty Ingredients Inc., a supplier of specialty ingredients to the personal care and topical OTC and Rx markets. More information on the company can be found at www.sembiosys.com.

About Avrio Ventures Management Corporation

Avrio Ventures is a venture capital firm that supports the development of
Canadian commercialization and growth stage industrial bioproducts,
nutraceutical ingredients and food technology companies into world-class
organizations. www.avrioventures.com
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Botaneco Announces $4,000,000 Financing

June 30, 2008 - Calgary, AB - Botaneco Specialty Ingredients Inc. ('Botaneco'), a wholly-owned subsidiary of SemBioSys Genetics Inc. ('SemBioSys'), today announced that it has entered into an agreement for a $4.0 million convertible debenture financing with Avrio Ventures Limited Partnership ('Avrio Ventures'). Along with $2.4 million previously committed from AVAC Ltd., the funding will be used to accelerate Botaneco's commercialization of Hydresia(TM) products that target the personal care and topical ingredients markets. In consideration of prior investments made, SemBioSys received debentures from Botaneco totaling $5 million. Excluding the SemBioSys debentures, the transaction assigned Botaneco a pre-money valuation of $12.5 million.

"This transaction provides Botaneco with the financial resources
necessary to aggressively pursue opportunities in the personal care,
over-the-counter (OTC) and topical pharmaceutical markets completely
independent of SemBioSys. This is the latest in a series of steps we have made to provide Botaneco with the technology, people and capital to operate as a separate entity and achieve its full potential. It also allows SemBioSys to focus its resources specifically on our pharmaceutical pipeline," said Andrew Baum, president and chief executive officer of SemBioSys. "Dozens of companies are now developing consumer products with Hydresia(TM), and we expect to see a further array of product launches based on these ingredients in the coming quarters."

Hydresia(TM), a natural product, is derived from safflower seeds and
offers unique functionality and aesthetic properties without compromising
performance. Strategically positioned to lead the natural personal care
movement, Hydresia(TM) is an effective replacement for synthetic, petroleum-and animal-derived ingredients in a variety of product categories.

"The company's proven products and established relationships with
personal care consumer companies, combined with its robust technology platform and seasoned management team, create a strong competitive advantage," said Aki Georgacacos, Partner of Avrio Ventures and new board member of Botaneco. "The double-digit annual growth in the natural personal care segment makes it one of the fastest growing markets for global personal care products. The company's oleosome technology is well positioned to capitalize on this trend away from petroleum and other synthetic ingredients. We are very excited to assist Botaneco in both expanding its ability to meet the growing demand for its existing products as well as to exploit opportunities for further product development in the topical OTC market."

AVAC, Avrio Ventures and SemBioSys have agreed to allow other investors
to participate in the convertible debenture financing through subsequent
subscriptions for a period of 120 days, up to a maximum of $4.5 million in
additional proceeds.

About Botaneco Specialty Ingredients Inc.

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 innovative ingredients that offer multifunctional, tangible and documented benefits to both formulators and consumers. Botaneco's head office and manufacturing facility is located in Calgary, Canada and its satellite office in Bensalem PA. More information is available and can be accessed at www.botaneco.ca.

About SemBioSys Genetics Inc.

Calgary, Alberta-based SemBioSys Genetics Inc. is a biotechnology company developing protein-based pharmaceuticals for metabolic and cardiovascular diseases. The Company's technology platform allows for the production of pharmaceutical proteins in an easily scalable, very low cost (in terms of both capital and COGS) manner. 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(Milano), a next generation cardiovascular drug. SemBioSys also owns Botaneco Specialty Ingredients Inc., a supplier of specialty ingredients to the personal care and topical OTC and Rx markets. More information on the company can be found at www.sembiosys.com.

About Avrio Ventures Management Corporation

Avrio Ventures is a venture capital firm that supports the development of
Canadian commercialization and growth stage industrial bioproducts,
nutraceutical ingredients and food technology companies into world-class
organizations. www.avrioventures.com