CALGARY, Canada – March 5, 2007 – SemBioSys Genetics Inc. (TSX:SBS), a biotechnology company developing a broad pipeline of protein-based pharmaceuticals and non-pharmaceutical products, today announced that the syndicate of underwriters of the Company’s recently completed short-form prospectus offering (the “Offering”), led by Raymond James Inc., have delivered a notice to the Company of their intention to exercise the entire over-allotment option to purchase 1,050,000 common shares of SemBioSys at the offering price of $3.00 per common share. On closing, the over-allotment is expected to provide an additional $3,150,000 in gross proceeds to SemBioSys, raising the total gross proceeds to the Company from the Offering to approximately $15,900,000. The closing for the purchase of the common shares to be issued pursuant to the exercise of the over-allotment option is anticipated to occur on or about March 6, 2007.
