Sinobiomed Signs Definitive Agreement to Acquire Chinese Pharmaceutical Distributor

August 9, 2007

Sinobiomed Inc. is pleased to announce that its 82% owned subsidiary, Shanghai Wanxing Bio-pharmaceuticals Co., Ltd. signed a formal Equity Transfer Contract on August 6, 2007 with the equity owners of Suzhou Boai Medical Development Company to acquire a 90% interest in Suzhou Boai, a pharmaceutical distribution firm.
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