SinoBiomed Wins Approval For External Use Of Growth Factor

SinoBiomed (SOBM.OB) announced that its subsidiary Shanghai Wanxing received approval in China for its lyophilized recombinant human acidic fibroblast growth factor for external use [rhaFGF]. The drug is indicated for ulceration, including deep burns and chronic ulcers caused by wounds, diabetes, vascular diseases and bed sores.

Before distributing the drug, Shanghai Wanxing must also win GMP Certification. The company anticipates that it will begin distribution in the second half of 2007.

SinoBiomed, which is based in Shanghai, was formed in early March 2007, when CDoor Corporation [CDCX.OB] took over Wanxing and its subsidiaries by issuing 1.75 million shares to Wanxing shareholders. CDoor changed its name to SinoBiomed.

Shanghai Wanxing Bio-pharmaceuticals Co., Ltd. has 10 products approved or in development: two on the market, one awaiting approval, four in clinical trials and three in research and development. The company’s specialty is in recombinant protein drug development, and it has one of the largest capacities for the manufacture of recombinant bio-products in China.

In September 2006, Shanghai Wanxing received a patent in the U.S. for its malaria vaccine, which it is developing with financial help from the Bill and Melinda Gates Foundation.

Disclosure: none.