SOBM News +15%
Sinobiomed Retains CB Capital Partners as Financial Advisor to Maximize Shareholder Value
Investment Banking Firm Has Strong Background in Biotechnology
August 26, 2008: 01:15 PM EST
Sinobiomed Inc. ("Sinobiomed", or "the Company") (OTCBB: SOBM) is pleased to announce that it has retained CB Capital Partners, Inc. as its financial advisor to evaluate strategic alternatives to maximize shareholder value.
"While we are extremely pleased with the results obtained from the work undertaken to date on our three marketed and seven pipeline drugs, four of which are moving towards commercial release, we feel this success is not yet represented in shareholder value," said Banjun Yang, Company President and CEO. "We have invested heavily in the respective successful development of our products; now we need assistance in developing our Company's share valuation."
These product developments include:
- The patented recombinant malaria vaccine candidate (PfCP2.9), for which Sinobiomed is now in discussions to initiate Phase IIb clinical trials.
- The Phase IIb clinical trials of the Company's patented anti-bleeding agent, recombinant Batroxobin (rBAT). Should the product proceed to Phase III clinical trials, it is expected that international governments and organizations would show significant interest. The Company has already received indications of interest from global pharmaceutical companies for joint development, marketing and production.
- Recent applications for a Chinese and an international patent for recombinant human kallikrein-1 (rhK1), and for a Chinese patent for an innovative recombinant multivalent tuberculosis vaccine.
- Continuing penetration of Chinese market of Sinobiomed's commercialized products, which treat a wide range of diseases including hepatitis B and hepatitis C. China is home to nearly one third of the world's hepatitis carriers.
"Collectively, these developments have substantially increased the value of Sinobiomed, which has seen a dramatic corresponding increase in market capitalization of nearly 200%. The Company believes, however, that its valuation remains well below the market capitalization and corresponding share price of above $3.00 per share. We further believe that our share price has been impacted by the overall decline in the Chinese capital markets."
"We have therefore retained CB Capital Partners as our financial advisor to assist in reviewing our strategic alternatives with the objective of maximizing shareholder value, and we look forward to working with them to ensure that all alternatives available to the Company are considered and evaluated to achieve that objective."
These alternatives may range from strategic alliances to assist in the development of its pipeline drugs to financing opportunities such as mergers, acquisitions, a sale of all or part of the business, or other initiatives considered to be in the best interests of the Company and its shareholders.
ABOUT CB CAPITAL PARTNERS
CB Capital Partners is a specialized investment banking firm, which focuses on creating value through customized financial advisory assignments including capital raises, debt placements, strategic and financial partnerships, and mergers and acquisitions transactions. The firm was founded in 2001 in order to bring innovative and value-added solutions to our clientele through a conservative and disciplined application of our diverse professional institutional investment banking talents. www.cbcapital.com.
ABOUT SINOBIOMED INC.
Sinobiomed Inc. is a leading Chinese developer of genetically engineered recombinant protein drugs and vaccines. Based in Shanghai, Sinobiomed currently has 10 products approved or in development: three on the market, four in clinical trials and three in research and development. The Company's products respond to a wide range of diseases and conditions, including: malaria, hepatitis, surgical bleeding, cancer, rheumatoid arthritis, diabetic ulcers and burns, and blood cell regeneration.
SINOBIOMED INC.
LANE 4705, NO. 58, NORTH YANG GAO RD.
PUDONG, NEW AREA SHANGHAI, 201206 CHINA
PHONE: 86-58993708 / FAX: 86-58993709
FORWARD LOOKING STATEMENTS This news release may include "forward-looking
statements" regarding Sinobiomed, and its subsidiaries, business and project plans. Such forward looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where Sinobiomed expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Sinobiomed does not undertake any obligation to update any forward looking statement, except as required under applicable law.
Contacts:
Sinobiomed Inc.
Investor Relations
(718) 502-8801 or Toll Free: 1-866-588-0829
Email: info@sinobiomed.com
Website: www.sinobiomed.com
