China Biologic Products Enters into a Strategic Research and Development Agreement with IBT of CAMS
Sep 24, 2009
TAI'AN, China, Sept. 24 /PRNewswire-Asia-FirstCall/ -- China Biologic Products, Inc. (OTC: CBPO) (BULLETIN BOARD: CBPO) ("China Biologic," or the "Company"), one of the leading plasma-based pharmaceutical companies in the People's Republic of China ("PRC"), today announced that on September 11, 2009, the Company entered into a strategic research and development agreement with the Institute of Blood Transfusion (the "IBT") based in Chengdu, Sichuan Province, to strengthen the Company's research and development capabilities and manufacturing processes. IBT is a division of the Chinese Academy of Medical Sciences and Peking Union Medical College ("CAMS").
The IBT is a leading research institute in China, specializing in a variety of plasma-based research including research on the safety of blood transfusions, blood immunology, transfusion disposable materials, blood biochemistry and molecular biology. China Biologic's collaboration with IBT will include the use of IBT's technology to enhance safe and efficient plasma collection, and increase the range of plasma-derivative products that can be manufactured by the Company. The agreement also entitles China Biologic to utilize IBT's platform technologies, including its recombinant protein therapeutics, monoclonal antibody technology and diagnostics.
China Biologic will collaborate by providing partial funding, plasma, the use of its manufacturing facilities, and access to its research and development resources. IBT will provide specialized training and education to China Biologic's research staff, and will procure additional funding from national and provincial funding bodies. In addition, China Biologic is entitled to the priority purchase rights to commercialize any new technologies or products that result from the collaboration.
"We are committed to being a technology leader in the area of plasma-based pharmaceuticals and we constantly seek to improve our collection and manufacturing processes," commented Mr. Chao Ming Zhao, CEO of China Biologic Products. "China's plasma-based industry is underpenetrated, partially due to the scarcity of investment in the research and development of new products, as compared to similar investment in more developed countries. We are pleased to enter into the research and development agreement with IBT, which we believe will enable us to leverage IBT's advanced scientific resources to accelerate our development of new products and improve the efficiency of our operations.
About the Institute of Blood Transfusion
Founded in 1958, the Institute of Blood Transfusion ("IBT") is a division of the Chinese Academy of Medical Sciences and Peking Union Medical College, based in Chengdu, Sichuan Province. As the exclusive state-level institute of transfusion medicine, IBT is primarily engaged in transfusion medicine and the research and development of relevant products. For over 40 years, IBT has made an extensive contribution to the construction and development of transfusion medicine in China, especially in the area of blood safety, HLA research and bank construction, and biotech research. IBT is mainly engaged in biochemical and molecular biology, microbiology, immunology, cell biology and biomedicine, and is a leader in the research and development of products related to safe blood transfusion, blood immunology, transfusion disposable materials, and blood biochemistry. IBT has received several prestigious awards from state and local institutions including 65 awards from the Chinese Ministry of Health and the Sichuan provincial government.
About China Biologic Products, Inc.
China Biologic Products, Inc. (the "Company"), through its indirect majority-owned subsidiaries, Shandong Taibang Biological Products Co. Ltd. and Chongqing Dalin Biologic Technologies Co., Ltd, and its equity investment in Xi'an Huitian Blood Products Co., Ltd., is currently the largest non-state- owned plasma-based biopharmaceutical company in China. The Company is a fully integrated biologic products company with plasma collection, production and manufacturing, research and development, and commercial operations. The Company's plasma-based biopharmaceutical products are irreplaceable during medical emergencies, and are used for the prevention and treatment of various diseases. It sells its products to hospitals and other healthcare facilities in China.
Safe Harbor Statement
This release may contain certain "forward-looking statements" relating to the business of China Biologic Products, Inc. and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements," including statements regarding: the significance of the strategic research and development agreement with IBT on the business and operations of the Company; the ability of the Company to achieve its commercial objectives; the business strategy, plans and objectives of the Company and its subsidiaries, including the possibility that he strategic research and development agreement with IBT will advance the Company's strategy to bring new higher margin products to market; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website ( http://www.sec.gov/ ). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
For more information, please contact: Company Contact: Mr. Y. Tristan Kuo Chief Financial Officer China Biologic Products, Inc. Tel: +86-538-6202206 Email: IR@chinabiologic.com Web: http://www.chinabiologic.com/ Investor Relations Contact: Mr. Crocker Coulson, President CCG Investor Relations Tel: +1-646-213-1915 (NY office) Mr. Gary Chin Tel: +1-646-213-1909 Email: email@example.com Web: http://www.ccgirasia.com/
SOURCE: China Biologic Products, Inc.
CONTACT: Company Contact: Mr. Y. Tristan Kuo, Chief Financial Officer of
China Biologic Products, Inc., +86-538-6202206, or IR@chinabiologic.com; Or
Investor Relations Contact: Mr. Crocker Coulson, President of CCG Investor
Relations, +1-646-213-1915 (NY office) or Mr. Gary Chin, +1-646-213-1909, or