SHANGHAI, Oct. 14, 2011 /PRNewswire-Asia/ -- ShangPharma Corporation (NYSE: SHP) ("ShangPharma" or the "Company"), a leading China-based pharmaceutical and biotechnology research and development outsourcing company, today announced that Ms. Wenjuan Xiao, a member of the board of directors of the Company, has resigned from the board, effective October 13, 2011. Ms. Xiao is a co-founder of the Company and is the mother of Michael Xin Hui, the chairman and CEO of the Company. After Ms. Xiao's resignation, ShangPharma Corporation has five directors, including three independent directors.
About ShangPharma Corporation
ShangPharma Corporation (NYSE: SHP) is a leading China-based contract research organization providing high quality and cost-effective services for the pharmaceutical and biotechnology industry. It offers a broad range of high-quality, integrated services across the drug discovery and development process to help international and Chinese pharmaceutical and biotechnology companies discover and develop novel drug candidates efficiently. ShangPharma's services consist of discovery chemistry, discovery biology and preclinical development, pharmaceutical development and biologics services. For more information, please visit www.shangpharma.com.
For further information, please contact:
In Shanghai, China
VP of Finance and Investor Relations
In New York, US
Kimberly Minarovich, +1 917-533-3268
In Hong Kong
Tip Fleming, +852-9212-0684
SOURCE ShangPharma Corporation