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NEWS RELEASE
FOR IMMEDIATE RELEASE
rhaFGF PRODUCT RECEIVED NEW DRUG CERTIFICATE
Shanghai, China – April 11, 2007 – Sinobiomed Inc. (the “Company”) (OTCBB: SOBM) is pleased to announce that one of Shanghai Wanxing Bio-pharmaceuticals Co., Ltd.’s (“Shanghai Wanxing” – an 82% owned subsidiary of the Company) products, lyophilized recombinant human acidic fibroblast growth factor for external use (rhaFGF), which was awaiting approval from the Chinese State Food and Drug Administration (the “Chinese SFAD”), has recently been approved for new biotherapeutic and received a New Drug Certificate. Shanghai Wanxing is now awaiting GMP Certification. Shanghai Wanxing anticipates fabricating and distributing this product in the last half year of 2007. As approved by the Chinese SFDA, rhaFGF is a drug for the treatment of ulceration including deep burns (more than 2nd degree burns) and chronic ulcers caused by wounds, diabetes, vascular diseases and bed sores.
ABOUT SINOBIOMED INC.
Sionbiomed Inc. is the sole shareholder of Wanxin Bio-Technology Limited, a BVI company which is the sole shareholder of Manhing Enterprises Limited, a Hong Kong company, and Manhing Enterprises Limited is the registered owner of 82% of the capital of Shanghai Wanxing Biopharmaceuticals Co., Ltd. In addition, Shanghai Wanxing Bio-pharmaceuticals Co., Ltd. is the registered owner of 50.33% of the capital of Shanghai Wanxing Bio-science Cosmetic Co., Ltd.
Shanghai Wanxing Bio-pharmaceuticals Co., Ltd. (“Shanghai Wanxing”) is a leading Chinese developer of genetically engineered recombinant protein drugs and vaccines. Based in Shanghai, Shanghai Wanxing currently has 10 products approved or in development: two on the market, one awaiting approval, four in clinical trials and three in research and development.
Shanghai Wanxing’s products respond to a wide range of diseases and conditions, including malaria, hepatitis, surgical bleeding, cancer, rheumatoid arthritis, diabetic ulcers and burns, and blood cell regeneration.
Shanghai Wanxing has proven expertise in recombinant protein drug development. This category of drugs – developed using biotechnology -- are valued for their safety, lower cost of production and efficacy compared to chemical drugs. These biopharmaceuticals are becoming one of the fastest growing segments in the global pharmaceutical industry.
China is projected to become one of the world's major biotech players in the next 15 years. The country's biopharmaceutical industry has witnessed rapid growth since the late 1980s and is continuing to expand with more than 30 percent annual revenue growth, according to Advances in Biopharmaceutical Technology in China, September 2006, a report from BioPlan Associates (www.bioplanassociates.com) and the Society for Industrial Microbiology.
Shanghai Wanxing also has proven expertise in recombinant protein manufacturing technology and a patented low-cost, high-yield production process to enhance bioactivity and guarantee the highest levels or purity. It also has one of China’s largest capacities for the manufacture of recombinant bio-products. Shanghai Wanxing also has strong strategic alliances with leading Chinese research hospitals and institutes for collaborative development of patented and patentable techniques and treatments. This domestic strength is complemented by established relationships with internationally recognized health researchers and organizations.
For further information please refer to the Company’s filings with the SEC on EDGAR available at www.sec.gov.
Contact:
Sinobiomed Investor Relations | Toll Free: 1-866-588-0829 | Email: info@sinobiomed.com |
