GUANGZHOU, China, April 21 /Xinhua-PRNewswire/ -- China Medicine Corporation (OTC Bulletin Board: CHME; "China Medicine" or "the Company"), a leading distributor and developer of ethical and over-the-counter drugs, traditional Chinese medicines (TCM), nutritional and dietary supplements, medical devices, and medical formulations in the PRC, today announced that the Company was selected by the Guangzhou Technology Bureau to represent Guangzhou city's biotechnology industry at the 15th Annual BIO International Convention, hosted by the Biotechnology Industry Organization. The convention will be held from June 17th to June 20th 2008 at San Diego Convention Center in San Diego, California.
China Medicine Corporation will present the development of its proprietary drugs -- Yutian Capsule, a class II TCM new drug, together with KY Polysaccharides and Aflatoxin Detoxifyzyme at the conference.
Yutian Capsule and KY Polysaccharide have been developed for the treatment of lung disease and lung cancer. Both these products have been approved by the Guangzhou Technology Bureau. The Company has successfully shown the chemical structure as well as the molecular weight of the compounds in these two drugs. This is a breakthrough for Traditional Chinese Medicine ("TCM") research as TCM has entered a new era of molecular level research.
In addition, China Medicine will also present its Aflatoxin-Detoxifizyme ("ADTZ") project, which has been accepted by the High-Tech National Natural Science Foundation of China as a part of the China's National "863 Plan." ADTZ is an enzyme that can eliminate aflatoxin from food and animal feed. The Company will launch its trial sales in 2008.
"This is an important event for China Medicine as we will be representing the entire biotechnology industry in Guangzhou city to participate in this conference. Guangzhou Technology bureau intends to leverage this conference as an opportunity to showcase and globalize the city's biotechnology development," said Mr. Senshan Yang, Chairman and CEO of China Medicine.
About China Medicine Corporation
China Medicine Corporation is a leading pharmaceutical company which discovers and develops medical formulations and distributes over 2,200 pharmaceutical products in China including prescription and over-the-counter ("OTC") drugs, traditional Chinese medicine products, herbs and dietary supplements. The Company distributes the products to wholesale distributors in 28 provinces, more than 300 hospitals, 500 medicine companies, and 1,788 drug stores throughout China. The Company actively develops a number of proprietary products for many uses including oncology, high blood pressure and the removal of toxins from food and animal feeds. For more information visit the Company's website at http://www.chinamedicinecorp.com .
Cautionary Statement
This press release contains forward-looking statements concerning the Company's business and products. The Company's actual results may differ materially depending on a number of risk factors including, but not limited to, the following: general economic and business conditions, obtaining regulatory approval for new products, the expected contribution of higher margin products, government support for rural health care, competition from existing and new competitors, changes in technology, and various other factors beyond its control. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risks factors detailed in the Company's reports filed with the Securities and Exchange Commission. China Medicine Corporation undertakes no duty to revise or update any
forward-looking statements to reflect events or circumstances after the date of this release.
For more information, please contact:
China Medicine Corp
Ms. Huizhen Yu, CFO
Tel: +86-20-8739-1718
Email: konzern08@168.com
CCG Elite Investor Relations Inc.
Mr. Crocker Coulson, President
Tel: +1-646-213-1915 (New York)
Email: crocker.coulson@ccgir.com
