Ag-West Biotech Inc. invests in Agrisoma Biosciences Inc.

February, 2003

Ag-West Biotech Inc. is pleased to announce an investment of $200,000 over two years to help the establishment of Agrisoma Biosciences Inc. in Saskatchewan. Agrisoma Biosciences Inc. is a new spin-off company of Chromos Molecular Systems Inc. headquartered in Burnaby BC. Chromos Molecular Systems Inc. is a publicly traded biotechnology company working in the healthcare sector that has developed a chromosome-based gene delivery and expression system to enable the production and manufacture of biopharmaceuticals for therapeutic use.

Agrisoma Biosciences Inc. is an early stage biotechnology company focused on developing and commercializing its chromosome-based gene transfer technology to enable the discovery and development of high value traits in crops, like grains with enhanced nutrition, and enable the production of proteins in plant-based systems. A major limitation of conventional gene transfer technologies is their restricted capacity to transfer large amounts of DNA, an important feature to enable crops to express multiple traits or large complex genes. Agrisoma’s technology overcomes this barrier.

"On behalf of the Government of Saskatchewan, I welcome Agrisoma to our province," said Deputy Premier and Minister of Agriculture, Food and Rural Revitalization Clay Serby. "Saskatchewan – specifically, the City of Saskatoon – has already established itself as the centre for agriculture biotechnology in Canada. Today’s announcement illustrates the continued expansion of this exciting industry, which also means jobs and opportunities for Saskatchewan people."

Peter McCann, President of Ag-West Biotech said "The addition of Agrisoma to the Saskatchewan ag-biotech cluster brings a new approach to the introduction of multiple genetic traits into plants. These plants will in future be used for the production of bio-pharmaceuticals or industrial protein-based products such as enzymes for detergents and improving the efficiency of plant-breeding by allowing the transfer of multiple genes in a single transformation.

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