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Sinobiomed Subsidiary Granted Chinese Patent for Recombinant Batroxobin (rBAT)
Tuesday, July 31, 2007
rBAT is world's first batroxobin synthesized through gene recombination; natural batroxobin is world's most prescribed anti-bleeding agent
Shanghai, China -- Sinobiomed Inc. ("Sinobiomed", or "the Company") (OTCBB: SOBM) is pleased to announce that Shanghai Wanxing Bio-pharmaceuticals Co., Ltd. ("Shanghai Wanxing"), the Company's 82% owned subsidiary, has received the patent grant notice from the State Intellectual Property Office of the People's Republic of China (PRC) for "a purified recombinant batroxobin with high bioactivity".
The patent application (#031160549) comprises a DNA recombinant technology to fabricate batroxobin, which exists naturally in the venom of the pallas pit viper. The invention also covers the synthesis of the batroxobin gene, as well as the expression, purification and characterization of batroxobin. Shanghai Wanxing applied for the Chinese patent for rBAT in 2003.
In addition, The Patent Cooperation Treaty (PCT) issued Sinobiomed's recombinant batroxobin international application number PCT/CN2007/001036 on March 30, 2007.
Natural batroxobin is the world's most prescribed biological anti-bleeding agent, but also has high production costs and safety concerns. In China, natural batroxobin currently has more than 80 percent of the domestic market.
rBAT is the world's first batroxobin synthesized through gene recombination. Shanghai Wanxing's low-cost, high-yield production process enhances bioactivity and guarantees the highest levels of purity. Shanghai Wanxing developed rBAT to prevent and treat surgical bleeding; it is now in Phase II Clinical Trials.
"The State Intellectual Property Office's granting of this patent for recombinant batroxobin confirms Sinobiomed's ability to identify unmet or underserved medical needs and develop innovative, patentable products to meet them," said Company President and CEO Banjun Yang.
The granting of the Chinese patent for recombinant batroxobin follows the granting of three other important patents for Sinobiomed's malaria vaccine. The U.S. Patent Office, the European Patent Office and most recently IP Australia, the Australian government organization that administers patents, has granted a patent for the malaria vaccine PfCP2.9 to which Sinobiomed has exclusive rights to develop, manufacture and sell through Shanghai Wanxing Bio-pharmaceuticals Co. Ltd.
About Sinobiomed Inc.
Sinobiomed Inc. is a leading Chinese developer of genetically engineered recombinant protein drugs and vaccines. Based in Shanghai, Sinobiomed currently has 10 products approved or in development: two on the market, one approved and market ready, four in clinical trials and three in research and development. The Company'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. (www.sinobiomed.com)
Forward Looking Statements
This news release may include "forward-looking statements" regarding Sinobiomed 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 Sinobiomed 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. Sinobiomed Inc. does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
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