HARBIN, China, July 27 /Xinhua-PRNewswire-FirstCall/ -- China Sky One Medical, Inc. (OTC Bulletin Board: CSKI), a manufacturer, marketer and distributor of pharmaceutical, medicinal and diagnostic products in China, today announced that eight of its new diagnosis kit products will enter into the clinical trial stage in August 2007.
The eight new products are:
-- Rapid Diagnosis Kit for Human Urine Microalbumin: Semi-quantitative
testing of urine microalbumin in short time, used for detecting the
damage of kidney in the early stage
-- Urine One Step LH Test: For self-test at home, forecasting the
ovulation cycle as a reference, help to improve the success rate of
being impregnated or to do contraceptive, or treat barrenness as
assistant diagnosis
-- Rapid Detect Kit for Prealbumin: Semi-quantitative testing of
percentage of human prealbumin, have very crucial value for
diagnosing the substantial damage of liver in clinic.
-- Rapid Detect Kit for APO B: Semi-quantitative testing of percentage
of APO B contained in human blood serum.
-- Rapid Detect Kit for APO A1: Semi-quantitative testing of
percentage of APO A1 contained in human blood serum.
-- Rapid Detect Kit for Magnesium Ion: Test the percentage of Magnesium
Ion, helps to diagnose renal inadequacy, uraemia, and etc.
-- Semi-quantitive Uterine Cancer One Step Test: Detect the cancer
cell in the early period, monitor the state of post-treatment.
-- Semi-quantitive Calcium Ion: Semi-quantitative testing of percentage
of calcium ion contained in human blood serum, blood plasma, urine,
and breast milk.
Semi-quantitive Uterine Cancer on Step Test is classified as Class-III medical instrument. The other seven products are classified as Class-II medical instrument. The company will commence the clinical trials in August 2007 to test sensitivity and specificity in China. For Class-II medical instrument, the clinical trial will involve at least 2 provincial hospitals and 200 patients. For Class-III medical instrument, it will involve at least 3 provincial hospitals and 1000 patients. All the clinical trials are expected to be completed at the end of 2007. Based on the results of clinical trials, Class-II medical instrument will get approval from Heilongjiang Food and Drug Administration ("Heilongjiang FDA") and Class-III medical instrument will get approval from China State Food and Drug Administration ("SFDA") to enter market.
Mr. Yanqing Liu, CEO and President of China Sky One stated: "This announcement speaks to the strength of our diversified pipeline of products in China. We are optimistic about the growth potential of these eight products. The current market of diagnosis kit products in China is estimated at RMB3 billion to RMB4 billion and it is expected to grow at a 20% annual rate in the next few years. We will continue to develop and launch more products of high-quality in this large and growing market."
About China Sky One Medical, Inc.
China Sky One Medical, Inc., a Nevada corporation, is a holding company whose principal operations are through its subsidiaries, which are engaged in the manufacturing, marketing and distribution of pharmaceutical, medicinal and diagnostic products in China. Through its wholly-owned subsidiaries, American California Pharmaceutical Group, Inc. ("ACPG"), Harbin Tian Di Ren Medical Science and Technology Company ("TDR"), and Harbin First Bio-Engineering Company Limited ("First"), the Company's principal revenue source is the manufacturing and sale of over-the-counter healthcare products. http://www.skyonemedical.com .
Certain of the statements made herein constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements typically involve risks and uncertainties and may include financial projections or information regarding our future plans, objectives or performance. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in The People's Republic of China, variations in cash flow, reliance on collaborative retail partners and on new product development, variations in new product development, risks associated with rapid technological change, and the potential of introduced or undetected flaws and defects in products, and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time.
