BOSTON, March 21, 2011 /PRNewswire/ -- China PharmaHub Corp. (OTC Bulletin Board: CPHB), a biopharmaceutical acquisition and development company, today announced that it has signed a exclusive worldwide license agreement with the University of California, for worldwide rights to develop, commercialize and market a universal donor blood product derived from embryonic stem cells developed by UCSD Associate Professor of Medicine and Pediatrics Dr. Ewa Carrier. The red blood cells have the potential to serve as a synthetic human blood substitute and can be mass-produced in vitro.
"We are pleased to enter into this agreement with the University of California, a leader in the field of scientific innovation," said Richard Lui, CEO of China PharmaHub. "This product has many advantages – not only is it universal, unlike most blood types, but it eliminates concerns about tainted or unsafe blood, is easy to mass-produce at a low cost, and can be made a readily-available, off-the-shelf product. We have already had potential partners express interest in this type of product, and we have plans underway to establish a new subsidiary company to develop the product and line up advisors and additional partners."
"This kind of product addresses a tremendous global need," said Carrier. "Worldwide, there are shortages of 75-90 million units of blood each year, and only 4.3 percent of the world population has the universal blood donor type. In addition, this kind of product has a wide range of uses, including for the military, trauma centers, and areas with tainted blood supplies, such as Asia and Africa."
About China PharmaHub Corp.
China PharmaHub Corp. is a development stage company engaged in the business of licensing, developing and commercializing innovative products for a wide variety of human diseases from biopharmaceutical companies based in the United States or China. PharmaHub brings a unique blend of relationships and resources to assist scientists and companies to develop, commercialize, market and sell pharmaceutical, biotechnology and healthcare products, as well as offer improved, cost-effective alternatives to current methods of treatment or enable the discovery, research and development of new medicines. PharmaHub's corporate headquarters are located in Los Angeles and Boston. More information on China PharmaHub is available at www.chnpharmahub.com.
This press release, together with other statements and information publicly disseminated by the Company, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Except as otherwise required by the federal securities laws, the Company disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein.
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SOURCE China PharmaHub Corp.