|
¡¡
China Medicine Corporation Obtains Australian
Patent for rADTZ
July 18, 2008
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 (TCMs),
nutritional and dietary supplements, medical devices, and medical
formulations in the People¡¯s Republic of China (PRC), announced
today that it obtained a patent from Australia Patent Office for
recombinant Aflatoxin Detoxifizyme (rADTZ). The patent is valid
through January 13, 2025.
rADTZ is an innovative product that has the potential to detoxify
aflatoxin (AFT), a potential cancer causing agent, in food and feed.
It is a compound that is a derivation of aflatoxin-detoxifizyme (ADTZ),
an extracellular enzyme. Developed by Guangzhou Co-Win
Bioengineering Co., Ltd, a subsidiary of China Medicine, rADTZ can
be used as an additive to remove aflatoxins from animal feed as well
as other food products. The Company intends to develop rADTZ for
this and other applications.
"We are proud to announce that we have achieved a major milestone in
being granted a patent for rADTZ in Australia," said Mr. Senshan
Yang, Chairman and CEO of China Medicine. "This is a major
breakthrough for China Medicine and it opens up the opportunity to
expand our business overseas," he added. China Medicine has already
obtained a patent for rADTZ from the State Intellectual Property
Office of China in early 2004.
China Medicine has performed laboratory experiment on rADTZ and has
gathered important data to address technological challenges related
to its development. The Company is currently testing rADTZ on animal
feed and is scheduled to begin working with the Chinese Department
of Agriculture on a large scale experiment in order to meet national
standards and apply for production permits. Once the Company
receives production permits, it expects to begin trial sales of
rADTZ by the end of 2008.
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.
¡¡
¡¡ |
