Navigation Links
China Sky One Medical Receives $1.5 Million Government Grant to Further Develop Six New Cancer Products

HARBIN, China, Sept. 10 /Xinhua-PRNewswire-FirstCall/ -- China Sky One Medical, Inc. (OTC Bulletin Board: CSKI), a manufacturer, marketer and distributor of pharmaceutical, medicinal and diagnostic products in China, today announced that it won the bidding process organized by the Chinese Ministry of Science and Technology for a $1.5 million grant to further develop its six Early-Stage Cancer Diagnostic Kit project. These six products were created by First Bio-Engineering Company Limited ("First"), the Company's wholly-owned subsidiary. These products will enter into clinical trials in the first half of 2008.

The Company will receive a total grant of $1.5 million over two years, 60% of which will be received in September 2007 and 40% of which will be received in the beginning of 2008. The grant will support the Company's research and development efforts on the six products. The Company will commence the clinical trial in the first half of 2008 to test sensitivity, specificity and accuracy of the products.

The six new products, upon commercial launch, will be used for the fast screening and supplementary clinical diagnosis for various cancers, including the Colloidal Gold Rapid Diagnosis Reagent Kit for each of lung, stomach, intestinal, liver, pancreatic and ovarian cancers.

The bidding process, initiated by the Ministry of Science and Technology of People's Republic of China ("MOST") in early 2007, is to advance the Country's competitiveness in developing world-standard technologies by providing project funding to the winning enterprises. This bidding process, only open to domestic enterprises, consists of multiple stages of assessment and elimination of projects at the provincial as well as the national level. Selection criteria are based on innovation and feasibility of the project.

Mr. Yanqing Liu, Chief Executive Officer and President of China Sky One Medical stated, "This project aims to develop cancer diagnosis techniques and provide them to domestic hospitals at an affordable cost. This again speaks to our commitment to enhancing the overall health of Chinese people." Mr. Liu continued, "As the only winning healthcare enterprise in the Heilongjiang province, the recognition by MOST further solidifies our leading position in technology innovation at the local as well the national level."

About China Sky One Medical, Inc.

China Sky One Medical, Inc., a Nevada corporation, is a holding company whose principal operations are through its subsidiaries, which are engaged in the manufacturing, marketing and distribution of pharmaceutical, medicinal and diagnostic kit products. Through its wholly-owned subsidiaries, Harbin Tian Di Ren Medical Science and Technology Company (''TDR''), and Harbin First Bio- Engineering Company Limited ("First"), the Company's principal revenue source is the manufacturing and sale of over-the-counter pharmaceutical products. .

Certain of the statements made herein constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements typically involve risks and uncertainties and may include financial projections or information regarding our future plans, objectives or performance. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in The People's Republic of China, variations in cash flow, reliance on collaborative retail partners and on new product development, variations in new product development, risks associated with rapid technological change, and the potential of introduced or undetected flaws and defects in products, and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time.

For more information, please contact:

In the United States:

Ashley Ammon MacFarlane

Integrated Corporate Relations, Inc.

Tel: +1-203-682-8200 (Investor Relations)

Christine Duan

Integrated Corporate Relations, Inc.

Tel: +1-203-682-8200 (Investor Relations)

In Asia:

Xuyang Zhang

Integrated Corporate Relations, Inc.

Tel: +86-10-8523-3087 (Investor Relations)

SOURCE China Sky One Medical, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related biology technology :

1. How do you level the playing field with China?
2. Medical College receives $377K to study brain disease
3. Barriers will not stop convergence of medical technologies
4. Medical College team creates website for tracking flu
5. Biomedical engineering conference invites manufacturers
6. Visions: Wade offers straight talk on e-medical records
7. Merge unveils updated medical imaging software
8. Medical College receives $1.4M cancer grant
9. Medical technology firm lands $100K federal grant
10. Doyle outlines spending for Medical College, UWM
11. And the winners in medical design are
Post Your Comments:
(Date:6/27/2016)... 2016  Liquid Biotech USA ... a Sponsored Research Agreement with The University of ... from cancer patients.  The funding will be used ... with clinical outcomes in cancer patients undergoing a ... be employed to support the design of a ...
(Date:6/24/2016)... ... June 24, 2016 , ... While the majority of commercial spectrophotometers and ... and the 6000i models are higher end machines that use the more unconventional z-dimension ... light beam from the bottom of the cuvette holder. , FireflySci has developed ...
(Date:6/23/2016)... June 23, 2016   Boston Biomedical , ... compounds designed to target cancer stemness pathways, announced ... granted Orphan Drug Designation from the U.S. Food ... gastric cancer, including gastroesophageal junction (GEJ) cancer. Napabucasin ... to inhibit cancer stemness pathways by targeting STAT3, ...
(Date:6/23/2016)... ... June 23, 2016 , ... Charm Sciences, Inc. is ... has received AOAC Research Institute approval 061601. , “This is another AOAC-RI approval ... Bob Salter, Vice President of Regulatory and Industrial Affairs. “The Peel Plate methods ...
Breaking Biology Technology:
(Date:6/2/2016)... LONDON , June 2, 2016 ... has awarded the 44 million US Dollar project, ... Security Embossed Vehicle Plates including Personalization, Enrolment, and IT Infrastructure ... world leader in the production and implementation of Identity Management ... in January, however Decatur was selected ...
(Date:5/20/2016)... 2016  VoiceIt is excited to announce its ... By working together, VoiceIt and VoicePass will ... VoicePass take slightly different approaches to voice biometrics, ... and usability. ... partnership. "This marketing and technology partnership ...
(Date:4/28/2016)... BANGALORE, India , April 28, 2016 /PRNewswire/ ... product subsidiary of Infosys (NYSE: INFY ), and ... global partnership that will provide end customers with ... banking and payment services.      (Logo: ... area for financial services, but it also plays a fundamental ...
Breaking Biology News(10 mins):