BOSTON, Mar 27, 2006 (BUSINESS WIRE) -- Ludlow China, a research subsidiary of Ludlow Capital announced today that it has initiated Coverage of Techedge, Inc. (TEDG) , and their potential acquisition of China BioPharma.
TechEdge has signed a Letter of Intent to acquire China BioPharma Limited, a Cayman Island company, which has the rights to have majority ownership to Tianyuan Bio-pharmaceuticals. Tianyuan Bio-pharmaceuticals currently has 4 vaccines in their portfolio covering such diseases as Ebola Hemorrhagic Fever, and Influenza virus vaccine, inactive. With the H5N1 Avian Bird Flu virus penetrating across the Northern Hemisphere, we feel the potential acquisition of vaccine producer China BioPharma, and their rights to Tianyuan Bio-pharmaceuticals may position the company as a leader in the viral and vaccine research and production sector.
According to a company update released on March 27, 2006, the company realized $10 million in sales for fiscal year 2005, with a net profit of $1.5 million, unaudited.
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