XI'AN, CHINA--(Marketwired - April 17, 2014) - Skystar Bio-Pharmaceutical Company (NASDAQ: SKBI) ("Skystar" or the "Company"), a China-based manufacturer and distributor of veterinary medicines, vaccines, micro-organisms and feed additives, announced the following updates to its patent portfolio:
- China's State Intellectual Property Office (SIPO) granted the Company patents in application status for two new products
- Additional two patents have application pending and review status with SIPO
- Patent for one product in development expired, but the Company retains know-how and exclusive rights to sell and market the product through 2020
Skystar previously submitted patent applications for Live Trivalent Attenuated Coccidiosis for poultry, and Multi-Immune Transfer Factor (an immunity boosting supplement) have been accepted by China's State Intellectual Property Office (SIPO). SIPO has issued to Skystar patent numbers 2013103474397 and 2013102595286, respectively, in connection with these applications. These two patents in application can be found on SIPO's website (http://publicquery.sipo.gov.cn/index.jsp). The first patent is a live Trivalent Attenuated Coccidiosis Vaccine which is to be used as a one-time inoculation of baby chickens using an active vaccine (a weakened form of live coccidia). Coccidia, a very common parasitic protozoan, can kill chickens and, left unchecked, can threaten an entire poultry farm. The active vaccine is delivered via three different strains of Eimeria (Tenella, Maxima and Acerviluna) and allows an animal to develop immunity within 10-14 days of being inoculated. The vaccine can be delivered via various means, including mixing with chicken feed or drinking water, or spraying the poultry farm. The product is expected to be a one-time dosage that provides lifelong immunity against coccidiosis. Also, the patented vaccine does not produce resistant strains of coccidiosis and is shown to be able to eradicate coccidiosis throughout poultry farms. The second patent is a Multi-Immune Transfer Factor supplement. This supplement acts as an immunity booster. It is a small molecule that enables the transfer of information from one cell to another providing immunity boosting agents such as increased white blood cell count in animals. The goal of the transfer factor supplement is to provide farmers with a natural means of improving an animal's health without any negative side effects.
Skystar is currently waiting for the SIPO office to issue the Company physical patent certificates for the two products. In addition, Skystar has applied to China's SIPO and was issued two additional patent application numbers 2014100550285 and 2014100559364, pending completion of the SIPO patent application review.
Finally, the Company's previously purchased exclusive patented aquaculture vaccine technology from China's Fourth Military Medical University ("FMMU") expired in December 2011. Under the FMMU collaborative research and development agreement the Company was granted Company exclusive rights to sell and market the aquaculture vaccine through 2020, the Company retains know-how for the production line for the vaccine. In collaboration with FMMU, Skystar is in a position to produce the first vaccine in China designed to prevent and treat certain bacterial infection and diseases in marine life without causing harmful side effects. Based on its first-to-market status, China's Ministry of Agriculture has issued a Grade I Veterinary Certificate for this vaccine.
Commenting on these developments, Mr. Weibing Lu, Chairman and CEO of the Company, said, "We are pleased to have received patent protection from China's SIPO for these two products. It is Skystar's goal to continue to introduce commonly applied Western methodologies, medicines and supplements to the animal husbandry ecosystem within China. In turn, the Company hopes to be part of the change in China directed at protecting the nation's food source by standardizing and modernizing the ways in which the animal husbandry industry operates."
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About Skystar Bio-Pharmaceutical Company
Skystar is a China-based developer, manufacturer and distributor of veterinary healthcare and medical care products. Skystar has four product lines: veterinary medicines, probiotics, vaccines and feed additives formulated and packaged in house across several modern manufacturing and distributions facilities. Skystar's distribution network includes almost 3,000 distribution agents of which 360 are franchised stores with exclusivity agreements covering 29 provinces throughout China. For additional information, please visit http://www.skystarbio-pharmaceutical.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain of the statements made in the press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology. Such statements typically involve risks and uncertainties and include, without limitation, the Company's ability to secure the patents references in the release and maintain patent and related intellectual property protection required for its operations, the Company's ability to integrate the product offering based on such intellectual property into the current product line of the Company, the Company's financial projections, expectations relating to the plant productions capabilities, statements relating to the timing of various regulatory certifications, or information regarding the progress of new product development. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in The People's Republic of China, variations in cash flow, reliance on collaborative retail partners and on new product development, variations in new product development, risks associated with rapid technological change, and the potential of introduced or undetected flaws and defects in products, and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time. These forward-looking statements are based upon our current expectations and projections about future events and generally relate to our plans, objectives and expectations for the development of our business. Although management believes that the plans and objectives reflected in or suggested by these forward-looking statements are reasonable, all forward-looking statements involve risks and uncertainties and actual future results may be materially different from the plans, objectives and expectations expressed in this press release. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results.