COREMED SIGNS JOINT VENTURE WITH CHINA'S MAJOR PHARMAS TO DEVELOP ALVEAIR INHALABLE INSULIN

In a move with worldwide ramifications in the treatment of diabetes, Coremed, Inc., (http://www.coremedusa.com ) announced the signing of a mutually exclusive joint venture partnership with Shanghai-based Fosun and Xuzhou-based Wanbang, two of China's largest pharmas. Frank K. Leung, M.D., F.A.C.E., Coremed's founder, announced the agreement, saying that Coremed and Fosun-Wanbang would develop Alveair(TM) inhalable insulin through all phases of clinical trials and product commercialization. Emphasizing the partnership's important potential, Leung said it is a sound business model that holds several "distinctive competitive advantages."

PR Newswire (http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/08-24-2005/0004093499&EDATE=)