November 12, 2007 -- Genesis Pharmaceuticals Enterprises (OTCBB: GTEC) completed a $5 million private placement and will use the proceeds to buy the patent on a new cerebral vascular medicine, currently undergoing testing in China. The drug, Ligustrazine Ferulic Acid Acetate (LFAA), works to reduce blood clotting and prevent platelets from clumping together. LFAA has never been imported to China nor marketed elsewhere in the world. Genesis was formed less than two months ago, when Laiyang Jiangbo Pharmaceuticals effected a reverse merger with Genesis. More details...
