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:10/2/2017)...  Eli Lilly and Company (NYSE: LLY ... quarter of 2017 on Tuesday, October 24, 2017. Lilly ... with the investment community and media to further detail ... will begin at 9 a.m. Eastern time. Investors, media ... of the conference call through a link that will ...
(Date:10/2/2017)... 2, 2017 The Rebound mobile app is poised ... reverse the tide of prescription drug addiction. The app empowers ... intake and stepping down their dosage in a safe, controlled ... December 2017; the first 100,000 people to sign up will ... http://www.rebound-solution.com/ ...
(Date:9/27/2017)... Sept. 27, 2017  Commended for their devotion to personalized ... Ranked as number one in the South Florida Business Journal,s ... Inc. 5000 yearly list, the national specialty pharmacy has found ... Bardisa will soon be honored by SFBJ as the ... Set to receive his award in October, Bardisa ...
Breaking Medicine Technology:
(Date:10/13/2017)... ... October 13, 2017 , ... The Visiting Nurse Association (VNA) of ... collection of specialty vendors and unique items from across the nation, this holiday-themed event ... wellness services offered by the VNA. The boutique will be open Saturday, November ...
(Date:10/13/2017)... ... October 13, 2017 , ... Coveros, a leader ... been awarded a contract by the Center for Medicare and Medicaid Services (CMS). ... the enterprise use of Agile methodologies in a consistent and high value manner ...
(Date:10/12/2017)... ... ... Planet Fitness, one of the largest and fastest growing franchisors and operators ... location in Covington, LA at 401 N. U.S. Highway 190, in January of 2018. ... in the Holiday Square shopping center. Its location allows it to serve both Covington ...
(Date:10/12/2017)... ... 2017 , ... Information about the technology: , Otomagnetics has ... prevention of a major side effect of chemotherapy in children. Cisplatin and carboplatin ... cisplatin, hearing loss is FDA listed on-label as a dose limiting toxicity. Hearing ...
(Date:10/12/2017)... , ... October 12, 2017 , ... ... named one of Michigan’s 2017 Best and Brightest in Wellness® by Best and ... Wellness® awards program on Friday, Oct. 20 from 7:30 a.m. to 2 p.m. ...
Breaking Medicine News(10 mins):