SHANGHAI, CHINA--(Marketwire - January 08, 2008) - Sinobiomed Inc. ("Sinobiomed", or "the Company") (OTCBB: SOBM) is pleased to announce that that its 82% owned subsidiary, Shanghai Wanxing Bio-pharmaceuticals Co., Ltd. ("Shanghai Wanxing"), has been granted government funding of RMB 9 million (US $1.24 million) to continue the clinical trial of its recombinant malaria vaccine and advance its development with partner Second Military Medical University ("SMMU"). The funding is the largest the Chinese government has ever granted to a biopharmaceutical company.
