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U.S. Commerce Secretary Gutierrez Cuts Ribbon on MaxWell Biocorporation's New Pharmaceutical Development Center and Quality Control Laboratory in Ukraine
Date:6/24/2008

- First U.S. Commerce Secretary to visit independent Ukraine also visits

MaxWell's newly-built Boryspil facility -

WASHINGTON, June 24 /PRNewswire/ -- On June 4, 2008, U.S. Commerce Secretary Carlos Gutierrez became the first U.S. cabinet official to visit MaxWell Biocorporation's 150,000-square-foot pharmaceutical production facility in Boryspil, Ukraine.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080624/NETU078LOGO )

Gutierrez joined the founder, President and CEO of MaxWell Biocorporation Dr. Ken Alibek to officially open MaxWell's new pharmaceutical development center and quality control laboratory, co-located with the larger pharmaceutical production facility that opened officially on March 26, 2008.

Gutierrez and Alibek were joined at the ribbon-cutting ceremony by U.S. Ambassador to Ukraine William Taylor, President of the Academy of Medical Sciences of Ukraine Olexander F. Vozianov, and representatives of leading pharmaceutical companies in Ukraine.

Gutierrez visited MaxWell Biocorporation's Boryspil facility during his official trip to Ukraine on June 4-5. The U.S. Commerce Secretary also addressed the American Chamber of Commerce in Kyiv, held a roundtable discussion with U.S. business leaders, and met with Ukraine's President Yushchenko, Prime Minister Tymoshenko, and other senior Ukrainian officials to promote greater bilateral trade and investment.

According to the U.S. Department of Commerce, bilateral trade between the United States and Ukraine exceeded $2.5 billion in 2007, with U.S. exports growing by more than 77 percent. Ukraine's pharmaceutical market alone grew an estimated 22% in 2007, with 12% growth predicted for 2008.

Earlier this year, the United States and Ukraine concluded a Trade and Investment Cooperation Agreement, which establishes a framework for a deeper dialogue on trade and investment.

Photos of the event may be accessed on the MaxWell corporate website (http://www.max-well.com/eng/company_news.php?news_id=250) and on the U.S. Commerce Department home page ( http://www.commerce.gov/NewsRoom/TopNews/Images/PROD01_006605 ).

About MaxWell

MaxWell Biocorporation is a U.S.-based, privately-held international medical and pharmaceutical company with wholly owned subsidiaries and affiliates in the United States and Ukraine dedicated to increasing life expectancy and improving the quality of life of people in Ukraine and other underserved emerging healthcare markets in the former Soviet Union. MaxWell targets oncological, cardiological, chronic infectious and autoimmune disorders and diseases through the development, production, and introduction into clinical practice of sophisticated, high quality, and affordable off-patent generic biopharmaceutical and chemopharmaceutical medicines and the latest diagnostic and therapeutic methods. MaxWell = "Maximum Wellness."

"We Help You Live Longer"

Contact:

Alex Meerovich

A.Meerovich@max-well.com

202-454-3403


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SOURCE MaxWell Biocorporation
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