Botaneco Receives $4 Million Financing

CALGARY, Alberta—Botaneco Specialty Ingredients Inc., a subsidiary of SemBioSys Genetics Inc., has entered into an agreement for a $4 million convertible debenture financing with Avrio Ventures Limited Partnership. Along with $2.4 million previously committed from AVAC Ltd., the funding will be used to accelerate Botaneco’s commercialization of Hydresia™ products for the personal care and topical ingredients markets.

“This transaction provides Botaneco with the financial resources necessary to aggressively pursue opportunites 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,” said Andew Baum, president and CEO, SemBioSys. “Dozens of companies are now developing consumer products with Hydresia, and we expect to see a further array of product launches based on these ingredients in the coming quarters.”