Established in 1954 and based in Xi'an, The Fourth Military Medical University FMMU is one of China's most prestigious military medical universities and research centers. FMMU consists of several colleges specializing in: basic medicine, aerospace medicine, stomatology (the study of oral diseases), biomedical engineering, military services and statistics, pharmacology, nursing, and operates three modern hospitals: the First Affiliated General Hospital, the Second Affiliated General Hospital and the Stomatological Hospital.
FMMU's primary purpose is to advance China's military medicine. Before selecting Biostar, to the best of the Company's understanding, FMMU screened various pharmaceutical companies, rating their achievements in several fields, including research and product development, their completion of clinical trials, and their products' significance in fighting widespread diseases.
During his speech at the January 8th ceremony, which was attended by more than 3,000 doctors, university professors, leaders in the medical field, and executives from more than 500 pharmaceutical companies, Biostar's Chairman and Chief Executive Officer, Mr. Ronghua Wang, noted that Biostar will work with FMMU's staff to share resources and ideas and to carry out phases I to IV of clinical trials for products covered under the cooperation agreement. Additionally, based on and in accordance with prescribed military guidelines, Biostar's researchers will develop products which, when approved, will be sold directly to the PRC military and to the three hospitals managed by FMMU. The Company anticipates that its Zushima spray, a pain suppressant, which Biostar developed for China's military and has cleared clinical trials, will receive a military license shortly.
Mr. Ronghua Wang noted, "We are proud to be one of only nine pharmaceutical companies in China selected to cooperate with FMMU. When compared to the other eight pharmaceutical companies in this group, Biostar is smaller, but our vertically integrated business model, our strong R&D, and our manufacturing and marketing capabilities were several of the reasons why Biostar was included in this group. For several years, we have been cooperating with many prestigious universities, such as Shaanxi College of Traditional Chinese Medicine, Shaanxi University of Science and Technology and the Northwest University - College of Life Science. We believe that through our cooperation with FMMU, we have positioned the Company to take advantage of the growth forecasted for the pharmaceutical industry. We remain committed to enhancing shareholder value by expanding our product range, increasing sales, and profitably growing our Company."