CLAREMONT, Calif., Feb. 16, 2007 (PRIME NEWSWIRE) -- Kiwa Bio-Tech Products Group Corporation (OTCBB:KWBT) reports the Company's senior management visited CIVDC (China Institute of Veterinary Drug Control) regarding the application for a new animal medicine certification for the AF-01 technology.
On February 14th, 2007, Mr. Wei Li, the Board Chairman and CEO of KIWA, Mr. Xiaonan Wu, the Vice President of KIWA, Mr. Lixun Zhao, the Deputy Superintendent of the Institute of Medicinal Biotechnology, Chinese Academy of Medical Sciences and at the same time one of the holders of AF-01 technology, and Mr. Yubing Wang, the General Manager of the GMP-qualified veterinary drug factory that KIWA is negotiating with, visited CIVDC. CIVDC is the functioning department affiliated to the China Agriculture Department, responsible for approving applications of new animal medicine certification. During their visit, CIVDC's high officials and senior technical staffs have discussed AF-01 animal medicine examining and approving procedures in great details with KIWA's senior management. CIVDC expressed their expectation towards KIWA to go through the relative examining and approving procedures, finish applying certification for AF-01 technology, and start volume-production in the near future so as to provide a new way to prevent avian flu. CIVDC would provide appropriate supports during the process of certification application.
Mr. Wei Li stated that: "The Company has finished assets-appraisal to the GMP-qualified veterinary drug factory and both sides are negotiating on the details of the contract. It is expected that the agreement will be reached before the 20th of March."
Mr. Yubing Wang said that his company is manufacturing more than 30 veterinary drug products and is marketing and selling those products in most provinces and regions of China. His company is looking forward to co-operating with KIWA. He believes that co-operating with KIWA will help the company to expand the market share for existing products and AF-01 products in the field of veterinary drugs.
About Kiwa Bio-Tech Products Group Corporation
The Company develops, manufactures, distributes and markets innovative, cost-effective, and environmentally safe bio-technological products for agricultural and natural resources and environmental conservation. The Company's products are designed to enhance the quality of human life by increasing the value, quality and productivity of crops and decreasing the negative environmental impact of chemicals and other wastes. For more information about the Company, please visit the Company's website at http://www.kiwabiotech.com.
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described by the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.