China BioPharma Corp (fka CHBO)

[sweet crude]

CBPC Completes Funding - Flu Vaccine

China Biopharma Completes Funding to Its Joint Venture Subsidiary
Tuesday January 16, 2:29 pm ET


PRINCETON, N.J., Jan. 16 /PRNewswire-FirstCall/ -- China Biopharma, Inc. (OTC Bulletin Board: CBPC - News), a biopharmaceutical company, announced today that it has completed its capital investment to Zhejiang Tianyuan Biotech Co., Ltd. ("ZT Biotech"). China Biopharma owns 65% of the joint venture and its partner, Zhejiang Tianyuan Bio-Pharmaceutical Co., Ltd., owns the remaining 35%. In June 2006, the Chinese government approved ZT Biotech for developing and distributing biopharmaceutical products, especially human vaccines, in China.

With its joint venture partner, which is the largest non-government owned vaccine company, ZT Biotech will focus on the distribution of common vaccines such as influenza, and will introduce more mature, but not yet available biopharmaceutical products into China. ZT Biotech currently distributes flu vaccines throughout major hospitals and clinics in China.

Chairman and CEO of China Biopharma, Inc., Peter Wang, stated, "We now have our completed operation platform in China. Through licensing arrangements with global vaccine providers, China Biopharma plans to bring U.S. FDA- approved new biopharmaceutical products such as therapeutic vaccines into the Chinese marketplace. Our joint venture, ZT Biotech will initially focus on conducting clinical trials and product registration in China to build a pipeline of biological therapies that can help treat people with cancer and other widespread diseases, so that we can begin domestic distribution of advanced vaccine therapies."

http://biz.yahoo.com/prnews/070116/cltu167.html?.v=2