SHANGHAI, CHINA--(MARKET WIRE)--Jul 18, 2007 -- Sinobiomed Inc. (the "Company") (OTC BB:SOBM.OB - News) is pleased to announce that Shanghai Wanxing Bio-pharmaceuticals Co., Ltd.'s ("Shanghai Wanxing" - an 82% owned subsidiary of the Company) has commenced production of recombinant acidic Fibroblast Growth Factor (aFGF). Shanghai Wanxing's production facility for aFGF recently received its GMP (Good Manufacturing Practice) Certification by the Chinese SFDA. As approved by the Chinese SFDA, aFGF is a drug for the treatment of ulceration including deep burns (more than 2nd degree burns) and chronic ulcers caused by burn wounds, diabetes, vascular diseases and bed sores. aFGF is expected to enter the market in August 2007 with a production volume of approximately 20 million boxes per year and will retail for US $15.5/box. At present 200 distributors are negotiating with the company to distribute the product.
