CHANGCHUN, China and LOS ANGELES, March 5 /PRNewswire-Asia/ -- China Yongxin Pharmaceutical, Inc. (OTC Bulletin Board: CYXN) (the "Company"), a fast-growing, vertically-integrated health products company in China, today announced that Mr. Hal Lieberman, Ms. Laura Philips, Mr. Bing Li and Mr. Jingang Wang were appointed to its board of directors as independent directors effective March 3, 2010.
Mr. Lieberman has served as the President and CEO of HemoTherapeutics, Inc. a health services company since 2006. From 1998 to 2006, Mr. Lieberman served as a Consultant and Director on the boards of a variety of health care and medical device companies. Mr. Lieberman earned his Master's degree in Health Care Administration from George Washington University. He is also a member of American College of Health Care Administrators, The Entrepreneurship Institute, Southern California Biomedical Council and serves as an Advisor to U.S. Defense Advanced Research Projects Agency (DARPA).
Ms. Philips serves as a consultant and director of various strategic consulting and biotech and start-up companies. She served as the COO and acting CFO of NexGenix Pharmaceuticals, Inc. from November 2003 to May 2006. She held Manager and Project/Program Director positions for Corning Incorporated from June 1997 to August 2002. Ms. Philips served as the Senior Policy Advisor to the U.S. Department of Commerce in 1996 and had fellowships with the White House and Senate from 1994 to 1995. Ms. Philips was also the Assistant Professor in the Department of Chemistry at Cornell University from 1987 to 1994.
Mr. Li serves as the General Manager of Jilin Province Yinjian Small & Medium Enterprises Credit Guaranty Co., Ltd., the Vice-Chairman of the Board of Directors of Changchun JLU Technology Park Construction and Development Co., Ltd, the Deputy Managing Director of Jilin Province Intelligentization Committee and has held such positions since 1999. From March 1990 to June 1990, Mr. Li served as the Manager of the Export Department of Jim Provincial Forestry Import & Export Company. Mr. Li received his Bachelor's degree in English from Changchun University in 1988.
Mr. Wang serves as the Executive Director for CoSci Med-Tech Co., Ltd., and has held such position since May 2003. From June 2002 to May 2003, Mr. Wang worked as the Executive Director in Beijing Lingtainbicheng Medicine Technology Co., Ltd. He served as the Deputy General Manager and Assistant General Manager of Mudanjiang Lingtai Pharmaceuticals Co., Ltd from October 1998 to June 2002. Mr. Wang received his Bachelor's degree in Medical Research and Development from Heilongjian Chinese Medical University in 1998.
These appointments filled vacancies created by the recent resignations of Mr. Yongkui Liu and Ms. Yongmei Wang, and increased the number of directors on the Board to seven.
Mr. Yongxin Liu, Chairman and CEO of China Yongxin Pharmaceutical commented, "We are very pleased that these four individuals chose to become part of our Board of Directors. Their combined experience in operating and board capacities for major companies in both China and U.S. and experience with various aspects of the healthcare industry in both countries will be great assistance in guiding China Yongxin's growth plans over the coming years. In addition, their depth of experience will help us meet the high standards of corporate governance that are required in order to be listed on a senior U.S. exchange."
About China Yongxin Pharmaceuticals, Inc.
Founded in 1993, China Yongxin Pharmaceutical is a manufacturer, retailer and distributor of Chinese traditional medicines, pharmaceutical preparations, natural health products, health food, cosmetics, and medical equipment in Northeastern China. Its retail operations began in 2004, and in 2005, it gained franchise rights from one of the world's largest drug chains for China's Jilin Province. By the end of 2007, the Company had become one of the fastest growing drug retailers in China through its retail chain of 93 drug outlets as well as wholesale distribution and manufacturing operations in Northeastern China. For more information about China Yongxin Pharmaceuticals, please visit http://www.yongxinchina.com .
Forward Looking Statements
This news release contains certain "forward-looking statements." Forward- looking statements are based on current expectations and assumptions and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, and many of which are beyond the Company's control. The forward-looking statements are also identified through the use of words "believe," enable," "may," "will," "could," "intends," "estimate," "anticipate," "plan," "predict" "probable," "potential," "possible," "should," "continue," "project", "expect" and other words of similar meaning. Actual results could differ materially from these forward-looking statements as a result of a number of risk factors detailed in the Company's periodic reports filed with the SEC. Given these risks and uncertainties, investors are cautioned not to place undue reliance on such forward-looking statements and no assurances can be given that such statements will be achieved. China Yongxin Pharmaceutical Inc. does not assume any duty to publicly update or revise the material contained herein.
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