Navigation Links
China Sky One Medical to Jointly Launch Adult Stem Cell Research Enterprise
Date:12/16/2011

HARBIN, China, Dec. 16, 2011 /PRNewswire-Asia/ -- China Sky One Medical, Inc. ("China Sky One Medical" or "the Company") (NASDAQ: CSKI), a leading fully integrated pharmaceutical company in the People's Republic of China ("PRC"), today announced that its wholly-owned subsidiary, Harbin Tian Di Ren Medical Science and Technology Company ("TDR"), signed an agreement (the "Agreement") to jointly set up a new company, Harbin Tian Xin Biological Engineering Ltd.

Harbin Tian Xin Biological Engineering Ltd. is being organized to perform the storage of umbilical cord stem cells. It is also to perform the clinical applications of bone marrow stem cells, intercord mesenchymal stem cells and other human stem cells.

"As we have been involved in this area of research for the past several years, we are optimistic as to the potential of the stem cell storage and application sector. We are pleased to attract outside investors to this new venture to strengthen our capability in terms of technology and capital," commented Mr. Yan-Qing Liu, Chairman and CEO of China Sky One Medical. "We expect that Harbin Tian Xin Biological Engineering Ltd. will be formally put into operation in the first quarter of 2012 and new products and services might be introduced into the market as early as year-end 2012." Mr. Liu added.

On December, 12, 2011, TDR entered into an Agreement with three parties, the No. Four Hospital Associated with Harbin Medical Science University, Harbin Zheng Yuan Construction Group and Mr. Xiao-wei Zhang, pursuant to which they will jointly set up the new company for a total capital commitment of RMB 230.0 million (approximately around $36.3 million). TDR shall invest RMB 90.0 (approximately around $14.2 million) for an ownership stake of 39%. The four parties agreed in the Agreement that 65% of the committed capital is payable within 15 days upon execution of the Agreement, and the remaining 35% is payable within six months after initial payment is made. In addition, TDR shall have the right to appoint Harbin Tian Xin's Chairman and General Manager.  

About China Sky One Medical, Inc. China Sky One Medical, Inc., a Nevada corporation, is a holding company. The Company engages in the manufacturing, marketing and distribution of pharmaceutical, medicinal and diagnostic products. Through its wholly-owned subsidiaries, Harbin Tian Di Ren Medical Science and Technology Company, Harbin First Bio-Engineering Company Limited, Heilongjiang Tianlong Pharmaceutical, Inc. and Peng Lai Jin Chuang Pharmaceutical Company, the Company manufactures and distributes over-the-counter pharmaceutical products, which make up its major revenue source. For more information, visit http://www.cski.com.cn.

Safe Harbor Statement

Certain of the statements made in the press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward- looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding the Company's business development. 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, the potential of introduced or undetected flaws and defects in products, consumer acceptance of new products to be launched and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time.

Investor Relations Contact:China Sky One Medical

CCG Investor RelationsHongyu Pan, CFO

Crocker Coulson, President Email: ir@cski.com.cn

Tel: +1-646-213-1915Email: crocker.coulson@ccgir.com Website: www.ccgirasia.com Mabel Zhang, Vice PresidentTel: +1-310-954-1353Email: mabel.zhang@ccgir.com
'/>"/>

SOURCE China Sky One Medical, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. China Cord Blood Corporation to Report Second Quarter and First Half of Fiscal 2012 Financial Results
2. China Biologic to Host Earnings Conference Call on November 8, 2011 at 8:00 a.m. EST (NY)
3. Life Technologies Launches 3500 Dx Series Genetic Analyzers for In Vitro Diagnostic Use in China
4. China Biologic Named to Asias "200 Best Under a Billion" by Forbes Asia
5. United States Holds Global Lead in Breast Cancer Research Publications as China Surges to Forefront, According to Report
6. China Botanic Appoints Zack Zibing Pan as an Independent Director and Chairman of its Audit Committee
7. China Cord Blood Corporation to Hold Annual General Meeting in Hong Kong on December 19, 2011
8. Industrial Biotechnology China News 1109 - Annual Subscription
9. ThermoGenesis Announces Acceptance of AXP® Submission by Regulatory Body in China
10. China Cord Blood Corporation Files Its Annual Report on Form 20-F
11. China Botanic Pharmaceutical Reports Third-Quarter Fiscal Year 2011 Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/2/2016)... PRUSSIA, PA (PRWEB) , ... December 01, 2016 , ... ... is through industry-wide collaboration, standardization and a beautiful technology experience. All three tenets were ... more than 100 clinical trial leaders from over 40 sponsor, CRO and site organizations ...
(Date:12/2/2016)... Dec. 1, 2016   SurePure, Inc. (OTCQB: ... that the Company has concluded an agreement with Tamarack ... a 90-day period to acquire units of the Company,s ... USD 3.7 million.  Concurrently with the ... under which Tamarack will seek regulatory approvals in ...
(Date:11/30/2016)... 30, 2016  GenomOncology today announced the appointment of ... Affairs.  Dr. Coleman will oversee clinical content ... knowledge-enabled platform. The GenomOncology software suite empowers molecular pathologists with ... and clinical decision support, from quality control through reporting. ... , , ...
(Date:11/30/2016)... , Nov. 30, 2016  The Allen Institute ... Collection: the first publicly available collection of gene ... that target key cellular structures with unprecedented clarity. ... these powerful tools are a crucial first step ... better understand what makes human cells healthy and ...
Breaking Biology Technology:
(Date:6/21/2016)... 21, 2016 NuData Security announced today that ... of principal product architect and that Jon ... customer development. Both will report directly to ... moves reflect NuData,s strategic growth in its product ... customer demand and customer focus values. ...
(Date:6/9/2016)... -- Perkotek an innovation leader in attendance control systems is proud to announce the introduction ... to make sure the right employees are actually signing in, and to even control ... ... ... ...
(Date:6/2/2016)... 2, 2016 The Department of Transport ... the 44 million US Dollar project, for the , ... including Personalization, Enrolment, and IT Infrastructure , to ... production and implementation of Identity Management Solutions. Numerous renowned international ... Decatur was selected for the most compliant ...
Breaking Biology News(10 mins):