Ceapro Licenses an Innovative Process Technology From University of Alberta

Enabling Technology to develop dry powder formulations of Ceapro's Active Ingredients for the large functional food, nutraceutical and pharmaceutical markets

EDMONTON, ALBERTA -- (Marketwired) -- 05/20/14 -- Ceapro Inc. (TSX VENTURE:CZO) ("Ceapro" or "the Company") is very pleased to announce the signing of a Licensing and Development Agreement with the University of Alberta for the rights related to a technology entitled: "Formation of Micro/Nanoparticles and Encapsulation of Bioactives Using Supercritical Fluid Technology."

"The signing of this Agreement is a significant milestone for our Company since this technology would allow the development, production and commercialization of powder formulations that could be used as active ingredients in large markets like functional food, nutraceuticals and pharmaceuticals, a vision that we have expressed over the last two years," said Gilles Gagnon, President and CEO of Ceapro. "This partnership between Ceapro and the University of Alberta is a great example of translational research from lab to market," he added.

"This project exemplifies the high level of innovation happening at the University of Alberta," said Mr. Chris Lumb, CEO of TEC Edmonton, which is the University's licensing agent. "This agreement will create jobs and export revenue. It also demonstrates the importance of local licensing as a way to develop economic diversity, and to increase linkages between universities and their communities. We're very pleased to have a continuing relationship with Ceapro."

"It is very gratifying to see the technology developed in my lab together with my former PhD student, Dr. Bernhard Seifried with funding from NSERC-Discovery Grants program and Alberta Ingenuity Scholarship to be scaled up and commercialized by Ceapro," said Dr. Feral Temelli, Professor of Food Process Engineering.

About the Technology

This Technology was invented by Dr. Temelli from the Department of Agricultural, Food & Nutritional Science of the University of Alberta along with Dr. Bernhard Seifried, now Senior Researcher at Ceapro.

The technology is called "PGX Technology", a novel spray drying technique for processing water-soluble biopolymers, including oat beta glucan, utilizing the unique and tuneable properties of Pressurized Gas eXpanded liquids. PGX Technology is a platform that can produce numerous morphologies of biopolymers ranging from fine fibres to granular powder, which are highly water soluble and could find commercial success in a wide range of industries including functional foods, nutraceuticals, cosmeceuticals, and pharmaceutical products. This technology operates at lower temperatures than conventional spray drying allowing incorporation of thermosensitive bioactives as well.

About Ceapro Inc.

Ceapro Inc. is a Canadian growth-stage biotechnology company. Primary business activities relate to the development and commercialization of active ingredients for healthcare and cosmetic industries using proprietary technology and natural, renewable resources. To learn more about Ceapro, visit www.ceapro.com.

About TEC Edmonton

TEC Edmonton helps tech entrepreneurs accelerate their growth. In addition to being the commercialization agent for University of Alberta technologies, TEC Edmonton operates the region's largest incubator for early stage technology companies, including both university spinoffs and companies from the broader community.

TEC provides services in three broad areas: client business development, technology commercialization, and entrepreneur development.

TEC's ~100 active clients are an outstanding group of companies: in the last two years they have generated $180M in revenue, raised $85M in financing and funding, invested $49M in R&D, grown both revenue and employment by 25%, and employ ~1100 people in the region. In addition, TEC has assisted in the creation of 7 spinoffs from the University in the last two years.

In 2013 TEC Edmonton was identified by the Scandinavian UBI University Business Incubator Index as the 17th best university business incubator in the world - and the best in Canada.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Megan Lee, Ph.D.,MBA
Director, Corporate Affairs, Planning and Development
Ceapro Inc.

Source: Ceapro Inc.