HARBIN, China, April 8 /PRNewswire-Asia-FirstCall/ -- Renhuang Pharmaceuticals, Inc. (“Renhuang” or “the Company”), a developer, manufacturer and distributor of botanical products, bio-pharmaceuticals and traditional Chinese medicines (“TCM”), today announced that the Company recently signed a research cooperation agreement with the College of Pharmacy, Harbin University of Commerce to jointly pursue extraction of effective parts from Siberian Ginseng (Acanthopanax) (“Research Agreement”).
Siberian Ginseng is a plant found in the northern hemisphere in eastern Asia with demonstrated powerful anti-depression and anti-anxiety properties without the side effects associated with chemical drugs. Renhuang is a leading global producer of Siberian Ginseng-based products and controls about 70% of China’s Siberian Ginseng resources. The project under the Research Agreement with Harbin University of Commerce is part of China’s 11th Five Year Plan (“the Plan”), a critical government initiative to further China’s economic development through scientific advancement, including furthering the development of China’s biotechnology industry. Under terms of the Research Agreement, Harbin University of Commerce will be responsible for the research and development of preparation methods, including maintaining the stability of extracts, using the Korean Ginseng technical standards, which rank among the highest in the world. Renhuang will be responsible for improving the Siberian Ginseng-based products’ quality, carrying out pilot production, and implementing full-scale production.
“Harbin University of Commerce is one of China’s premier research institutions and we are very pleased to announce our collaborative Research Agreement with its College of Pharmacy,” said Mr. Shaoming Li, Chairman and CEO of Renhuang Pharmaceuticals, Inc. “Such collaborative work will significantly expand our body of knowledge, strengthen our research capabilities, and enhance the competitiveness of our Siberian Ginseng-based product series in the market. This collaboration with Harbin University of Commerce reinforces Renhuang’s continued commitment to achieve excellence in research and development and expand our leadership position in Siberian Ginseng-based products, which will drive our future revenue growth.”
ABOUT RENHUANG PHARMACEUTICALS, INC.
Renhuang Pharmaceuticals, Inc. is engaged in the development, manufacturing, and distribution of botanical products, bio-pharmaceutical products, and traditional Chinese medicines (“TCM”), in the People’s Republic of China. All of the Company’s products are produced at its three GMP-certified production facilities in Ah City, Dongfanghong and Qingyang. The Company distributes its botanical anti-depression and nerve-regulation products, biopharmaceutical products, and botanical antibiotic and OTC TCMs through its network of over 3,000 distributors and over 70 sales centers across 24 provinces in China.
Safe Harbor Statement
This press release contains certain statements that may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon management’s beliefs, assumptions and expectations of the Company’s future operations and economic performance, taking into account the information currently available to management. These statements are not statements of historical fact. Forward-looking statements involve risks and uncertainties, some of which are not currently known that may cause actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial condition expressed or implied in any forward-looking statements. These forward-looking statements are based on current plans and expectations and are subject to a number of uncertainties including, but not limited to, the success of new research and development products, the Company’s ability to maintain its leadership in Siberian Ginseng-based products, and other factors detailed in the Company’s annual report on Form 10-K and other filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented herein.
CONTACT: Ms. Portia Tan, IR Contact of Renhuang Pharmaceuticals, Inc.,
+86-451-5392-5461, ir@renhuang.com; or Ms. Lei Huang, Account Manager,
+1-646- 833-3417 (New York), lei.huang@ccgir.com, or Crocker Coulson,
President, +1- 646-213-1915 (New York), crocker.coulson@ccgir.com, both of
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