CALGARY, Oct. 19 /CNW/ - SemBioSys Genetics Inc. (the “Company”) (TSX:SBS), a biotechnology company developing a portfolio of therapeutic proteins for metabolic and cardiovascular diseases, today announced that it has entered an agreement to issue 2,500,000 units of the Company (“Units”) at price of $2.60 per Unit, on a bought deal private placement basis, to a syndicate of underwriters led by Acumen Capital Finance Partners Limited and including PI Financial Corp., for total gross proceeds to the Company of $6,500,000. The Company has granted the underwriters an over-allotment option to purchase up to an additional 375,000 Units which, if exercised in full, would raise the total gross proceeds to the Company to $7,475,000. The offering is expected to close on or about November 14, 2007, subject to the receipt of all requisite regulatory approvals and the approval of the Toronto Stock Exchange.
