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The Research and Development Center of Harbin First Bio-Engineering Co., Ltd., a Wholly Owned Subsidiary of China Sky One Medical, Inc. (OTC Bulletin Board: CSKI) is Named as key Provincial Laboratory by Heilongjiang Provincial Science and Technology Department

China Sky One Medical, Inc.
2006-12-04 17:39 1454

LOS ANGELES, Dec. 4 /Xinhua-PRNewswire/ -- China Sky One Medical, Inc.

(OTC Bulletin Board: CSKI) has been notified that at an accreditation meeting

on November 21, the research and development center of Harbin First Bio-

engineering Co., Ltd., a wholly owned subsidiary of China Sky One, was named

by the Heilongjiang Provincial Science and Technology Department, as one of

the key Provincial laboratories in Heilongjiang Province. This designation

was a result of the Company’s advanced laboratory equipment, strong research

department, and intellectual property.

As a means of promoting scientific and technological innovation in

Heilongjiang Province, the Heilongjiang Provincial Science and Technology

Department decided in July 2006, to start a Province-wide program to identify

and award a number of key laboratories. All institutes, academies and

enterprises are eligible to apply for evaluation, and it has been reported

that the Company’s subsidiary has been chosen from more than 1,000

laboratories that have submitted applications during the 2006 calendar year.

Beginning in September 2006, the Heilongjiang Provincial Science and

Technology Department assembled a team of experts to inspect and evaluate

laboratory applicants. The inspection results were submitted in November

2006. The Heilongjiang Provincial Science and Technology Department has

authorized 15 applicants as provincial-level key laboratories, of which 4

designated key laboratories are in the medical industry. Harbin Bio-

engineering is one of the 4 provincial-level key laboratories in the medical

industry selected for its outstanding achievements.

Each laboratory selected as a Provincial Key Laboratory will be entitled

to receive, from the Heilongjiang Provincial Science and Technology

Department, awards in a number of forms, including non-refundable financial

support for laboratory construction, in amounts to be determined, and funding

for annual research and development projects, as well as preferential policy

support for selected projects.

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.

Source: China Sky One Medical, Inc.
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