China Biologic Products, Inc. (NASDAQ:CBPO), a leading fully integrated plasma-based biopharmaceutical company in China, today announced that Shandong Taibang Biological Products Co. Ltd., the Company’s majority-owned subsidiary, recently obtained approval from the China Food and Drug Administration (the “CFDA”) to begin human clinical trials on its Human Antithrombin III (“ATIII”) product.
ATIII is intended to treat hereditary and acquired ATIII deficiency in connection with surgical or obstetrical procedures, and to treat thromboembolism. No manufacturer in China currently offers plasma-derived ATIII product. China Biologic expects to commence clinical trials for the ATIII product in 2017 and complete the trials in two years or longer.
Mr. David (Xiaoying) Gao, Chairman and Chief Executive Officer of China Biologic, commented, “We are pleased to obtain approval by the CFDA to conduct clinical trials for our ATIII product. This approval comes shortly after we received clinical trial approval for our Human Coagulation FIX product, which demonstrates our ongoing research and development efforts and commitment to serving the broader needs of coagulation-deficient patients. In addition to its known indications, we believe the ATIII product also has broader treatment uses, for which we intend to conduct further research. We believe this product will further improve our plasma fractionation utilization and also contribute to our future financial performance.”
About China Biologic Products, Inc.
China Biologic Products, Inc. (NASDAQ:CBPO) is a leading fully integrated plasma-based biopharmaceutical company in China. The Company’s products are used as critical therapies during medical emergencies and for the prevention and treatment of life-threatening diseases and immune-deficiency related diseases. China Biologic is headquartered in Beijing and manufactures over 20 different dosage forms of plasma products through its indirect majority-owned subsidiaries, Shandong Taibang Biological Products Co., Ltd. and Guizhou Taibang Biological Products Co., Ltd. The Company also has an equity investment in Xi’an Huitian Blood Products Co., Ltd. The Company sells its products to hospitals, distributors and other healthcare facilities in China. For additional information, please see the Company’s website www.chinabiologic.com.
