BEIJING and CLAREMONT, Calif., May 13 /Xinhua-PRNewswire-FirstCall/ --
Kiwa Bio-Tech Products Group Corporation (OTC Bulletin Board: KWBT)
announced finalization of an agreement establishing a joint venture company
capable of producing Kiwa's AF-01 anti-viral product.
On May 9, General Manager of Shijiazhuang Huaxing Animal Medicine Co.,
Ltd. (''Huaxing''), Mr. Ruijun Li and his associates visited Kiwa's
headquarters in Beijing for the final round of negotiations toward setting
up a proposed joint-venture. Both parties had extensively negotiated on the
terms of the joint-venture contract and finally confirmed all terms of the
contract.
The signing ceremony will be held next week, after the company name is
approved by the local Administration of Industry and Commerce.
ABOUT AF-01 ANTI-VIRAL FEED ENHANCEMENT AND AEROSOL
In May 2006, Kiwa acquired AF-01 Anti-viral Aerosol technology for
veterinary medicine applications including the exclusive production right
and other related rights to produce an anti-viral aerosol drug for use with
animals from Jinan Kelongboao Bio-Tech Co., Ltd. ("JKB"), which is
affiliated with Chinese Academy of Medical Sciences. The AF-01 aerosol
technology is a broad-spectrum anti-viral agent with potent inhibitory
and/or viricidal effects on a variety of RNA viruses found in animals and
fowls such as bird flu. Kiwa's hope is to develop a commercialized product
in the form of a spray for applying in fowl houses and other animal holding
facilities to prevent and cure virus-caused diseases.
ABOUT SHIJIAZHUANG HUAXING ANIMAL MEDICINE CO., LTD.
Huaxing was founded in 1996. Huaxing is supported by animal husbandry
and veterinary medicine agencies at both provincial and municipal levels.
Huaxing has focused on building strong co-operative relationships with
academic institutions such as the Agricultural University of Heibei and
Hebei University of Science & Technology. Huaxing has developed: 12-series
of animal medicines and disinfectants, over 200 products for flocks and
herds, pigs, furry animals and pets. Huaxing holds 82 approval document
numbers for veterinary drug products. Huaxing was inspected by the Ministry
of Agriculture of the People's Republic of China (''Ministry of
Agriculture'') and was awarded the GMP qualification in January 2005.
Huaxing's distribution channel covers all of China with exception of Taiwan
and Tibet. Huaxing has become a modern high-tech veterinary drug enterprise
recognized as a strong force in R&D, manufacturing and also distribution.
ABOUT KIWA BIO-TECH PRODUCTS GROUP CORPORATION
The Company develops, manufactures, distributes and markets innovative,
cost-effective, and environmentally safe bio-technological products for
agricultural and natural resources and environmental conservation. The
Company's products are designed to enhance the quality of human life by
increasing the value, quality and productivity of crops and decreasing the
negative environmental impact of chemicals and other wastes. For more
information about the Company, please review documents filed with the SEC
(http://www.sec.gov) or visit the Company's website at http://www.kiwabiotech.com
.
This press release contains information that constitutes
forward-looking statements made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. Any such
forward-looking statements involve risk and uncertainties that could cause
actual results to differ materially from any future results described by
the forward-looking statements. Risk factors that could contribute to such
differences include those matters more fully disclosed in the Company's
reports filed with the Securities and Exchange Commission. The
forward-looking information provided herein represents the Company's
estimates as of the date of the press release, and subsequent events and
developments may cause the Company's estimates to change. The Company
specifically disclaims any obligation to update the forward- looking
information in the future. Therefore, this forward-looking information
should not be relied upon as representing the Company's estimates of its
future financial performance as of any date subsequent to the date of this
press release.
For more information, please contact:
Kiwa Bio-Tech Products Group Corporation
Yvonne Wang
Tel: +1-626-715-5855
Email: kiwabiotech@gmail.com
Robert Schechter
Equity Communications
Tel: +1-212-499-6809
Email: ir4kiwa@hotmail.com
SOURCE Kiwa Bio-Tech Products Group Corporation
 back to top
Related links:
http://www.kiwabiotech.com
CONTACT:
Yvonne Wang of Kiwa Bio-Tech Products Group
Corporation at +1- 626-715-5855 or kiwabiotech@gmail.com; or
Robert Schechter of Equity Communications at +1-212-499-6809 or
ir4kiwa@hotmail.com, for Kiwa Bio-Tech Products Group Corporation
|
