HANGZHOU, China, Nov. 29 /PRNewswire-FirstCall/ -- Aida Pharmaceuticals, Inc. , one of mainland China’s leading pharmaceutical companies, today announced the Company’s 77.5% controlled subsidiary, Shanghai Qiaer Biotechnology Co., Ltd, has been awarded 1.5 million RMB (approximately $191,083 US) in grants from the Science and Technology Committee, a division of the Shanghai Municipal Government. The grants have been earmarked for the ongoing research of Qiaer’s and Aida’s potentially pioneering anticancer genetic therapy, Rh-Apo2L. Aida and Qiaer have received these prestigious grants in recognition of the Companies’ prior intensive applied research and anticipated future contributions for cancer treatment in China.
Mr. Jin Biao, Chairman and Chief Executive Officer of Aida stated, “It is a great honor for Aida and Qiaer to receive such a significant grant from the government authority. Since beginning research on Rh-Apo2L, Qiaer has been awarded more than 10 million RMB (approximately $1,276,079 US) in government grants including funds received from the National Natural Science Funds, the Biopharma Industrial Fund and Mid-small Creative Enterprises Funds. Continued government support and confidence in Rh-Apo2L should enable Aida and Qiaer to continue research and development of the therapy to eventually deliver a safe and effective treatment for various forms of cancer. Receiving grants such as these illustrate the Government’s confidence in the future of Rh-Apo2L and its potential benefits to the Chinese people.”
About Rh-Apo2L:
Rh-Apo2L is an anti-tumor biological agent researched and developed by Shanghai Qiaer Biotechnology Co., Ltd., a newly acquired subsidiary of Aida Pharmaceuticals. Rh-Apo2L is a broad spectrum genetic cell apoptosis (cell- killing) agent, which the Company expects to be used for the treatment of a variety of cancerous tumors. Research and Development of Rh-Apo2L is sponsored and supported by several national and municipal funds. One patent of Rh-Apo2L has been granted by Chinese Patent Bureau, two additional patents are currently in process. To learn more about Rh-Apo2L, please visit http://www.equityperformancegroup.com/aida_einvestor_kit/QiaerBiotechFAQ.pdf.
About the Science and Technology Committee of Shanghai Municipal Government:
The Science and Technology Committee of Shanghai Municipal Government (STCM) is a government authority of Shanghai, the largest and most prosperous city in China. STCM provides grants and funds for hi-tech companies to boost research and eventual commercialization of hi-tech inventions or products. STCM maintains certain standards to evaluate candidates that apply for government funds and focuses their attention on those companies whose inventions or products are of great potential significance to China and have great probability of successful commercialization.
About Aida Pharmaceuticals:
Aida Pharmaceuticals is a product-focused pharmaceuticals company engaged in the formulation, clinical testing, registration, manufacture, sales and marketing of advanced pharmaceutical and genetic products in mainland China. The Company’s mission is to discover, develop and market meaningful new therapies that improve human health. Aida, in operation since March 1999, is headquartered in Hangzhou, China with manufacturing, distribution and sales points throughout mainland China. Aida is GMP certified in China and ISO9002 certified for quality assurance and ISO14000 certified for ecologically- friendly practices. Aida is now producing and marketing a patented prescription drug in China, Etimicin Sulfate. It is the first antibiotic developed in China and is regarded as a category “A” drug by the State Food and Drug Administration of China.
Contact Information: Aida Pharmaceuticals, Inc. 31 Dingjiang Road Jianggan District Hangzhou, China 310016 http://www.aidapharma.com Investor Relations: Equity Performance Group Gary Geraci (617) 723-2373 gary@equityperfgp.comhttp://www.equityperformancegroup.com Safe Harbor Statement:
Under the Private Securities Litigation Reform Act of 1995: This press release includes certain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements are based on Aida Pharmaceuticals, Inc.'s management’s current expectations and are subject to risks and uncertainties and changes in circumstances. All forward-looking statements included in this press release are based upon information available to Aida Pharmaceuticals, Inc. as of the date of the press release, and it assumes no obligation to update or alter its forward looking statements whether as a result of new information, future events or otherwise. These forward-looking statements may relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact. Further information on risks or other factors that could affect Aida Pharmaceuticals, Inc.'s results of operations are detailed in its filings with the United States Securities and Exchange Commission available at http://www.sec.gov.
Aida Pharmaceuticals, Inc.
CONTACT: Gary Geraci for Aida Pharmaceuticals, +1-617-723-2373,gary@equityperfgp.com
