This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Sembiosys And Tasly Pharmaceuticals Sign Multi-Product Commercialization And Platform Collaboration Agreement

One of China's Largest Pharmaceutical Companies to Commercia lize SemBioSys' Plant-Based Manufacturing Technology in Global Joint Venture

CALGARY, Oct. 11, 2011 /PRNewswire/ - SemBioSys Genetics Inc. (TSX:SBS), today announced that it has signed a product and platform development collaboration agreement (the "Agreement") with Tasly Pharmaceuticals, Ltd ("Tasly") of Tianjin China and its wholly owned subsidiary Tasly U.S. Upon receiving government approval, a new Company based in China called Tasly-SemBioSys Pharmaceuticals, Ltd., will be incorporated in Tianjin, China, the third largest city in China. This Agreement is the most comprehensive partnering commercialization endeavor in SemBioSys' history.

SemBioSys is a biotechnology company that utilizes its renewable, patented plant seed oil body and protein expression technology platforms to develop and make high value proteins and oils and drug candidates for health and wellness products.

Tasly is one of China's largest pharmaceutical companies and is China's second largest producer of traditional Chinese medicines ("TCM"), which are derived from plants. Its lead drug, Tasly Cardiotonic pill, is the number one selling TCM in China and has held that position for the last seven years. In 2010, Tasly recorded revenues of 4.65 billion RMB with a ten year compounded growth rate of 21%. Tasly also has significant operations in the United States, Africa, South East Asia and the UK with its partner. Beijing International Group, an affiliate of Integrin Partners, acted as strategic advisor to Tasly on the transaction.

The new Company will be structured as a Sino-Foreign Equity Joint Venture (the "Joint Venture"), and will develop and commercialize a variety of products including pharmaceutical, functional foods and nutraceuticals for China and the world. Development work on the first products will begin immediately.

"Tasly brings a rich practice of developing and modernizing China's highest quality and best selling TCMs, which makes them an ideal business partner to globally develop our plant-based protein, high value oils and drug manufacturing technology," said James Szarko, President and CEO of SemBioSys. "Our mutual respect and understanding of one another's uniquely suited capabilities, provides us with the potential to have a dramatic impact on the Chinese and global market by delivering a number of high quality products with extremely competitive positioning within these markets."

SemBioSys will be entititled to 30% ownership and profit sharing of the Joint Venture's profits for contributing global rights to develop and manufacture its plant made insulin and insulin analogues (excluding select territories in which SemBioSys is already engaged in active development discussions), as well as licensing rights to research and development activities of additional products for the pharmaceutical and healthy living markets.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs