Sinobiopharma Signs Export Agreement With U.S. Pharmaceutical Supplier
April 03 2009 - 3:00PM
PR Newswire (US)
Kingchem to Act as Agent to Find Partner to Co-Develop Company's
Chinese Patented Skeletal Muscle Relaxant for North American
Markets LAS VEGAS, April 3 /PRNewswire-FirstCall/ -- Sinobiopharma,
Inc. (OTC Bulletin Board: SNBP) ("Sinobiopharma") (the "Company")
is pleased to announce that it has signed an export agreement with
Kingchem, an international marketing organization headquartered in
New Jersey that specializes in custom manufacturing and sourcing of
pharmaceuticals. Under the two-year agreement, Kingchem will act as
an agent to find a U.S. pharmaceutical company to co-develop
Sinobiopharma's Chinese patented new version of Cisatracurim
besylate, a non-depolarizing pre-surgical skeletal muscle relaxant,
for use in North America. Kingchem will also source buyers in North
America and facilitate the export process. Marketed under the Kutai
trademark in China, the Company's formulation of Cisatracurim
besylate is the world's first that can be stored at room
temperature; competitors' versions must be kept at 2 to 8 degrees
C. Compared to other neuromuscular blocking agents, Kutai, which is
administered intravenously, is immediate in onset and longer in
duration. Kutai captured an estimated 80 percent of the Chinese
market within 14 months of its launch in China. Kingchem is a
well-established, respected supplier to the pharmaceutical,
nutritional and fine chemical industries in the United States and
Europe. With more than a decade of service, Kingchem has been
recognized by its customers as a quality and reliable supplier. "We
believe this agreement is a first step in expanding the
international marketing of Kutai to help generate increased sales
revenues," said Sinobiopharma Vice President, Xuejun Chen. About
Kingchem LLC Kingchem LLC acts as a third party manufacturer's
agent, representing a group of first class manufacturers in China
and in other parts of the world in the pharmaceutical, fine and
specialty chemical, and nutritional and health food industries.
About Sinobiopharma Sinobiopharma, Inc. is a fully integrated and
highly innovative biotechnology company engaged in the research and
development, manufacture and marketing of biopharmaceutical
products in China, the world's fastest growing pharmaceutical
market. Known as Dong Ying (Jiangsu) Pharmaceutical Co. Ltd. in
China, the Company's current therapeutic focus is on
anesthesia-assisted agents and cardiovascular drugs.
FORWARD-LOOKING STATEMENTS This news release may include
"forward-looking statements" regarding Sinobiopharma, Inc., and its
subsidiaries, business and project plans. Such forward-looking
statements are within the meaning of Section 27A of the Securities
Act of 1933, as amended, and section 21E of the United States
Securities and Exchange Act of 1934, as amended, and are intended
to be covered by the safe harbor created by such sections. Where
Sinobiopharma, Inc. expresses or implies an expectation or belief
as to future events or results, such expectation or belief is
believed to have a reasonable basis. However, forward-looking
statements are subject to risks, uncertainties and other factors,
which could cause actual results to differ materially from future
results expressed, projected or implied by such forward-looking
statements. Sinobiopharma, Inc. does not undertake any obligation
to update any forward-looking statement, except as required under
applicable law. DATASOURCE: Sinobiopharma, Inc. CONTACT: Investor
Relations of Sinobiopharma, Inc., 1-877-568-0188 Web Site:
http://www.sinobiopharma.com/
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