BOSTON, March 21, 2011 /PRNewswire/ -- China PharmaHub Corp. (OTC Bulletin Board: CPHB), a biopharmaceutical acquisition and development company, today announced that it has signed a exclusive worldwide license agreement with the University of California, for worldwide rights to develop, commercialize and market a universal donor blood product derived from embryonic stem cells developed by UCSD Associate Professor of Medicine and Pediatrics Dr. Ewa Carrier. The red blood cells have the potential to serve as a synthetic human blood substitute and can be mass-produced in vitro.
"We are pleased to enter into this agreement with the University of California, a leader in the field of scientific innovation," said Richard Lui, CEO of China PharmaHub. "This product has many advantages – not only is it universal, unlike most blood types, but it eliminates concerns about tainted or unsafe blood, is easy to mass-produce at a low cost, and can be made a readily-available, off-the-shelf product. We have already had potential partners express interest in this type of product, and we have plans underway to establish a new subsidiary company to develop the product and line up advisors and additional partners."
"This kind of product addresses a tremendous global need," said Carrier. "Worldwide, there are shortages of 75-90 million units of blood each year, and only 4.3 percent of the world population has the universal blood donor type. In addition, this kind of product has a wide range of uses, including for the military, trauma centers, and areas with tainted blood supplies, such as Asia and Africa."
About China PharmaHub Corp.
China PharmaHub Corp. is a development stage company engaged in the business of
|SOURCE China PharmaHub Corp.|
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