Sinovac Biotech Ltd. Receives Government Funding For Pandemic Flu Vaccine Research And Development

BEIJING, Dec. 9 /Xinhua-PRNewswire/ -- Sinovac Biotech Ltd. announced it has received RMB7,000,000 (USD$867,000) from China's Ministry of Science and Technology for the preclinical trials R&D of its proprietary Pandemic flu vaccine (Panflu(TM)) for humans.

Since April 2004, Sinovac has received over USD$1,000,000 from different departments of Chinese government for its pandemic flu vaccine R&D. This government funding to Sinovac, more than any other vaccine project for its study in preclinical stage to date, is expected to continue.

This work has a high priority, because of a possible flu pandemic. Most health officials estimate a flu pandemic would last a year or more, and millions of lives would be at risk. One of the most effective countermeasures against pandemic flu is to manufacture mass quantities of vaccines as quickly as possible.

The Chinese government holds great expectations for Sinovac's successful development of a safe and efficacious pandemic flu vaccine for humans. Sinovac's goal is to contribute to the Chinese and international public health emergency.

Sinovac CEO and Director, Mr. Weidong Yin commented, "We are moving quickly in the face of a possible pandemic, but not cutting corners on safety. Everyone here at Sinovac takes very seriously, their commitment towards global health, while providing returns to our investors. We also work together to boost global capacity for pandemic flu vaccine."

Sinovac's vaccine includes an adjuvant (aluminum) to boost the immune response. By increasing the immune response, smaller doses of vaccine are necessary; making it possible to produce more doses quickly.

About Sinovac

Sinovac Biotech Ltd. is a world leader in the research, development, manufacture and commercialization of vaccines for endemic and pandemic viruses such as hepatitis and influenza, and for fast emerging viruses such as SARS and avian influenza (bird flu). The Company's objective is to provide Chinese children with the best vaccines in the world, and let children in the world use vaccines made in China.

Additional information about Sinovac is available on the Company website, http://www.sinovac.com

For additional information, investor newsletters and corporate updates, please email your request to: info@sinovac.com

THIS NEWS RELEASE MAY INCLUDE FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES AND EXCHANGE ACT OF 1934, AS AMENDED, WITH RESPECT TO ACHIEVING CORPORATE OBJECTIVES, DEVELOPING ADDITIONAL PROJECT INTERESTS, SINOVAC'S ANALYSIS OF OPPORTUNITIES IN THE ACQUISITION AND DEVELOPMENT OF VARIOUS PROJECT INTERESTS AND CERTAIN OTHER MATTERS. THESE STATEMENTS ARE MADE UNDER THE "SAFE HARBOR" PROVISIONS OF THE UNITED STATES PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND INVOLVE RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE IN THE FORWARD-LOOKING STATEMENTS CONTAINED HEREIN.

Sinovac Biotech Ltd.

CONTACT: Craig H. Bird, Investor Relations of Sinovac Biotech Ltd.,+1-215-782-8682, Toll Free: +1-866-360-8682 (North America),sinovac@verizon.net

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