Sinobiopharma, Inc. Announces Agreement to Co-Develop, Manufacture and Promote Eplerenone

NANTONG CITY, China, Aug. 10, 2010 (GLOBE NEWSWIRE) -- Sinobiopharma, Inc. (OTCBB:SNBP) ("Sinobiopharma" or the "Company"), an innovative biopharmaceutical products company with primary operations in China, today announced that the Company, through its wholly-owned subsidiary Dong Ying (Jiangsu) Pharmaceutical Co., Ltd., has signed an agreement with Jiangsu Lianhuan Pharmaceuticals Co., Ltd. ("Lianhuan") to co-develop, manufacture and commercialize Eplerenone, a therapeutic agent formulated to treat high blood pressure and vascular diseases. Sinobiopharma is the first Chinese pharmaceutical company that received the approval from the Chinese State FDA for clinical trial of Eplerenone in China. If successfully commercialized, the Company anticipates that Eplerenone will enjoy multi-year market exclusivity based on its first-to-market status.