Shanghai Pharma Biotherapeutics USA Inc. (SPHBio) is a wholly-owned subsidiary of Shanghai Pharmaceuticals Holding Co., Ltd. (SPH:http://www.sphchina.com), one of the largest pharmaceutical companies in China. SPHBio develops novel SPH therapeutics in the US and identifies potential partners, identifies and acquires Chinese rights to novel therapeutics, serving as the liaison between our partners and SPH to initiate clinical testing and registration in China, and conducts cutting-edge R & D to identify novel therapeutics in our research laboratories.