Company Gains 10-Year Right to Acquire and Market Drug Compounds and Intellectual Properties Developed by Beijing Jifatang Chinese Medicine Research & Development Institution
LAS VEGAS, Jan. 22 /Xinhua-PRNewswire/ -- China Health Holding, Inc. (OTC Bulletin Board: CHHH.OB), a development stage pharmaceutical company with the goal of becoming a leading developer, manufacturer, marketer and distributor of pharmaceutical and natural medical drugs in China and worldwide, today announced it has signed a binding memorandum of understanding (MOU) with the Beijing Jifatang Chinese Medicine Research & Development Institution for New Drugs R&D Strategic Alliance, Collaboration, and Partnership.
The 10-year agreement will allow China Health Holding to take full advantage of the institution's groundbreaking R&D to treat conditions ranging from diabetes and cancer to neurological and cardiovascular disorders.
"This agreement complements our previous acquisitions of producers and distributors of traditional Chinese medicine (TCM) by increasing our vertical integration in the pharmaceutical industry," said Julianna Lu, Founder and CEO of China Health Holding. "The Beijing Institution is an extremely well respected center for the development of TCM and we look forward to working with them to promote safe and effective alternatives to the modern Western healing systems."
This R&D partnership will strengthen China Health Holding's ability to attract and retain R&D talent in the People's Republic of China. It also will enable us to develop more new TCM-Based pharmaceutical drugs that complement the portfolio we are assembling from our ongoing acquisition of pharmaceutical firms in China. This new memorandum of understanding with Beijing Jifatang Chinese Medicine Research & Development Institution demonstrates our commitment to the expansion of China Health Holding's R&D, which is a critical part of our strategic plan along with the acquisition process.
Under the terms of the MOU, China Health Holding will be granted the right of first refusal and exclusive right for any new intellectual property developed by Beijing Jifatang Chinese Medicine Research Institution for a period of 10 years beginning January 2007. In return, China Health Holding will issue 200,000 common shares of its restricted common stocks to the Beijing Institution.
The move is the latest in a series of agreements and acquisitions aimed at establishing the China Health Holding as a leader in the fast-growing Chinese medical and pharmaceutical industry. In 2005, Traditional Chinese Medicine ("TCM") accounted for more than 25 percent of China's overall medical spending, resulting in total sales of approximately $12.2 Billion USD.
About Beijing Jifatang Chinese Medicine Research & Development Institution
Beijing Jifatang Chinese Medicine Research & Development Institution is a technological research institution that applies modern scientific techniques to the development of new therapeutic compounds based on traditional Chinese patent medicine. Its researchers have university training in Traditional Chinese Medicine, traditional Chinese pharmacology, medicinal chemistry, pharmaceutical analysis, biochemistry and pharmaceutical chemistry, pharmacology and clinical medicine. The institute also enlists well-known experts and scholars with rich industrial experience, professional knowledge and information on domestic and foreign development trends in the medical and pharmaceutical industries, who contribute their expertise to the development of each project. The institution's chairman, Prof. Cao Chunlin has served as Dean of the Department of Chinese Medicine of Beijing University of Chinese Medicine and is a leading academic expert in the pharmacology of traditional Chinese medicine.
About China Health Holding
China Health Holding, Inc., a development-stage pharmaceutical company with the goal of becoming a leading developer, manufacturer, marketer and distributor of pharmaceutical drugs and dietary supplements in China and worldwide. The company has extensive expertise in the field of traditional Chinese medicine and the Chinese pharmaceutical industry. Its immediate goal is the profitable penetration of the growing global and Chinese pharmaceutical market through acquisitions of major pharmaceutical companies in the People's Republic of China and worldwide. Its long-term plans include the development of a pharmaceutical drug pipeline and technology based on its knowledge of traditional Chinese medicine and the pharmaceutical industry in the People's Republic.
China Health Holding owns the exclusive worldwide rights to a total of 134 proprietary natural herbal medicinal products/formulas in two natural herbal medicinal product lines, King of Herbs and Taoist Medicinal. Please visit http://www.chinahealthholding.com for the company's profile.
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For more information, please contact:
China Health Holding, Inc. (Las Vegas)
Mr. Yu, XiaoFei
Executive Director/Vice President
Corporate Development
Tel: +1-604-608-6788 and Tel: 1-877-883-0979
Tel: 86-10-1314-696-8838 (Beijing China)
Email: info@chinahealthholding.com
Web: http://www.chinahealthholding.com
For investor or media inquiries please contact:
In the United States, and North America
Investor Relations International (Los Angeles)
Haris Tajyar, Managing Partner
Tel: +1-818-382-9702
In China, HongKong and Asia
Ms. Cathy Li
Ogilvy Public Relations Worldwide
Office: +86-10-85206104
