NANTONG, CHINA--(Marketwire - September 24, 2008) - Sinobiopharma, Inc. (the “Company”) (OTCBB: SNBP) is pleased to announce that on September 22, 2008, the Company completed the Share Exchange Agreement, dated August 19, 2008, entered into between the Company, DongYing Pharmaceutical Co, Limited (“DongYing BVI”) and all the shareholders of DongYing BVI (the “Share Exchange Agreement”) whereby the Company acquired 100% of the issued and outstanding shares in the capital of DongYing BVI, in exchange for the issuance of 40,000,000 (post forward split) shares of our common stock in aggregate to the shareholders of DongYing BVI on a pro rata basis in accordance with each DongYing BVI shareholders’ percentage of ownership in DongYing BVI. As a result of the completion of the Share Exchange Agreement, DongYing BVI became a wholly-owned subsidiary of the Company.
