China Biologic Products Enters into a Strategic Research and Development Agreement with IBT of CAMS
September 24 2009 - 8:00AM
PR Newswire (US)
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: 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: Web: http://www.ccgirasia.com/ DATASOURCE:
China Biologic Products, Inc. CONTACT: Company Contact: Mr. Y.
Tristan Kuo, Chief Financial Officer of China Biologic Products,
Inc., +86-538-6202206, or ; 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
Web site: http://www.chinabiologic.com/ http://www.ccgirasia.com/
Copyright