Navigation Links
China Biopharmaceuticals Holdings, Inc. Shareholders Overwhelmingly Support Merger with NeoStem, Inc., a NYSE AMEX Listed Company Trading Under Symbol 'NBS'
Date:10/29/2009

NEW YORK, Oct. 29 /PRNewswire-FirstCall/ -- China Biopharmaceuticals Holdings, Inc. (OTC Bulletin Board: CHBP), an integrated bio-pharmaceutical company, based in the People's Republic of China, announced today that its shareholders have approved the acquisition of CHBP by NeoStem, Inc. (NYSE AMEX: NBS) by an overwhelming vote in favor of approximately 80% of all issued and outstanding shares. The approval was obtained at a Special Meeting of Stockholders held today.

The acquisition will add significant potential benefits to the growth prospects of Suzhou Erye Pharmaceuticals Company Ltd. ("Erye"), CHBP's primary asset, including:

    A.  Benefits associated with being part of a publicly traded NYSE AMEX
        listed company.
    B.  Enhanced distribution channels with global market potential.
    C.  Leadership by an internationally recognized medical advisory board and
        executive management team led by Dr. Robin L. Smith, an experienced
        healthcare executive, who will be overseeing the combined operations.
    D.  Significant growth opportunities in the rapidly developing Stem Cell
        treatment and therapy segment of healthcare.
    E.  Enables the combined entity to source drugs and treatments from each
        other's pipeline.
    F.  Enhances company transparency and corporate governance enabling
        greater visibility in capital markets.

The Merger will expand the business potential and drug development opportunities with the addition of NeoStem's innovative Stem Cell therapy treatments. The expanded channels of development and distribution should boost the Company's portfolio of over 100 drugs on seven GMP lines, while benefiting distribution channels globally.

Madame Zhang, General Manager of Erye, said, "This Merger will allow us to expand the business potential of Eyre's substantial lines of drugs, especially our proprietary small molecule drugs, and distribute them throughout China, realizing what we anticipate will be tremendous market potential. We look forward to a long and fruitful relationship with NeoStem and believe it will benefit from the large and growing China pharmaceutical market, which is expected to become the third largest drug market in the world (behind the US and Japan), and forecasted to triple in size by 2013. We are excited at the opportunity to become part of a listed publicly traded company and believe that this combination will prove beneficial to shareholders."

About NeoStem, Inc.

NeoStem is developing a network of adult stem cell collection centers that are focused on enabling people to donate and store their own (autologous) stem cells when they are young and healthy for their personal use in times of future medical need. The Company has also entered into research and development through the acquisition of a worldwide exclusive license to technology to identify and isolate VSELs (very small embryonic-like stem cells), which have been shown to have several physical characteristics that are generally found in embryonic stem cells and is pursuing other technologies to advance its position in the field of stem cell tissue regeneration. For more information, please visit: www.neostem.com.

About China Biopharmaceuticals, Inc.

China Biopharmaceuticals Holdings, Inc (Symbol: CHBP) is a vertically integrated pharmaceutical company dedicated to the discovery, development, manufacturing and marketing of small and large molecule pharmaceutical products, including medicines, vaccines, and active pharmaceutical ingredients for various categories of diseases. CHBP is a U.S.-listed public company with operating subsidiaries and senior management based in China. For further information, please visit our website at http://www.cbioinc.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the "Risk Factors" described in the Company's Proxy Statement included as a part of the Registration Statement on Form S-4/A filed with the Commission on October 6, 2009 as well as periodic filings made with the Securities and Exchange Commission. In addition, the closing of the Merger is subject to the satisfaction of certain closing conditions as set forth in the Form S-4/A.

    CONTACT:
    China Biopharmaceuticals Holdings, Inc
    Catherine M. Vaczy, Vice President and General Counsel
    T: 212-584-4180
    E: cvaczy@neostem.com

SOURCE China Biopharmaceuticals Holdings, Inc.


'/>"/>
SOURCE China Biopharmaceuticals Holdings, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine technology :

1. HUYA Bioscience Intl Announces Clinical Trial Milestones in China for Promising New Anti-Arrhythmic Compound; Data Supports Desirable Safety Profile
2. HUYA Bioscience Intl Announces World-Class Clinical Advisory Team for New Anti-Arrhythmic Compound Sourced From China
3. HUYA Bioscience Intl Announces First Pre-IND Outcome for a Development Stage Compound Sourced From China - HBI-8000, Promising New Cancer Compound
4. HUYA Bioscience Intl Announces Pre-IND Outcome for HBI-3000 - Promising Anti-Arrhythmia Compound Sourced From China
5. China Sky One Medical, Inc. Announces 26 New Drugs in Clinical Trials
6. RHEI Pharmaceuticals Announces the Initiation of the Final Clinical Study for Approval of Tibozole in China
7. Varian Medical Systems to Exhibit Cancer Treatment and X-ray Imaging Technologies at China Med Exhibition
8. China Sky One Medical, Inc. Achieves Significant Breakthrough in Research for Sudden Cardiac Death (SCD) Early Examination Kit
9. China Animal Welfare Law Under Review While 36,000 Dogs Culled
10. China-Biotics, Inc. Prices $69 Million Public Offering of Common Stock
11. Clifford Chance Advises Pfizer on Conditional Clearance in China of Its Merger with Wyeth
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/27/2016)... 2016  Bayer Animal Health today announced that ... University of Florida College of Veterinary Medicine, is ... Communication Award (BECA). Brittany was selected from entries ... total of $70,000 in scholarship funds through the ... has provided a total of $232,500 in scholarship ...
(Date:4/27/2016)... , April 27, 2016 ... USD 2.14 billion by 2022, according to a ...      (Logo: http://photos.prnewswire.com/prnh/20150105/723757 ) , ... affecting the efficiency and accuracy delivered by the ... demand for novel urinalysis instruments and consumables. For ...
(Date:4/26/2016)... 2016 Hill-Rom Holdings, Inc. (NYSE: HRC ... the Deutsche Bank 41 st Annual Health Care Conference ... You are invited to listen to the live discussion ... it directly at http://edge.media-server.com/m/p/mr4uxgas . A recorded replay of ... the live event and accessible at the links above until ...
Breaking Medicine Technology:
(Date:4/29/2016)... ... April 29, 2016 , ... Shamangelic Healing, Sedona ... Onnit brand Alpha BRAIN and New Mood Daily-Stress Formula for brain optimization and ... products to the store is just one more way Shamangelic Healing supports people’s ...
(Date:4/29/2016)... ... 29, 2016 , ... On Tuesday, April 26, 2016 members of the HomeTown ... of Gov. Nathan Deal on SB 258, the “Rural Health Care Relief” Bill. , ... 70% tax credit to individuals and corporations which donate directly to a “rural hospital” ...
(Date:4/29/2016)... ... April 29, 2016 , ... ... author of best seller "LOVE, MEDICINE and MIRACLES") addresses touchy topics related to ... and podcasted thereafter . Dr. Bernie Siegel, author of a plethora of ...
(Date:4/29/2016)... ... April 29, 2016 , ... Conditions were ideal for ... Island Park on Sunday, with sunny skies, a light breeze and temperatures in the ... , The 5k Run and Walk and 1-mile walk were held to ...
(Date:4/29/2016)... ... 29, 2016 , ... A new study by a Johns ... hernia have better survival rates if surgery is performed early. Approximately one in ... diaphragm fails to form completely, letting abdominal organs into the chest cavity and ...
Breaking Medicine News(10 mins):