SemBioSys Extract Insulin from Safflower

A Calgary based biotech firm, SemBioSys has put one step ahead in the field of bio-technology by producing commercial quantities of human insulin from genetically modified safflower plants that would have a significant effect on the diabetes market. Andrew Baum, president and chief executive officer of SemBioSys Genetics Inc. said: We believe that when we’re successful, people in the developing world, who otherwise wouldn’t get insulin because there isn’t enough supply or they can’t afford it, will get it. The projected insulin demand for the year 2010 is soaring 16,000 kg and that can be met by just 16,000 acres of safflower farming. Brian Bapty, an analyst with Raymond James in Vancouver, said: This company exists because it has the production and manufacturing capacity that suggests they can beat everybody on price. The technology would be a relief for the diabetic patients as the demand for insulin is expected to grow due to earlier diagnosis and increased incidence based on demographic trends, as well as, consumption and behavioural habits.