Bio-Bridge Science Completes Acquisition of Xinheng Baide Biotechnology Co. Ltd.

* Reuters is not responsible for the content in this press release.

Thu Jul 31, 2008 10:01am EDT

OAK BROOK, Ill.--(Business Wire)--
Bio-Bridge Science, Inc. (OTCBB:BGES), a biotechnology company
engaged in the commercial development of vaccines for the prevention
and treatment of human infectious diseases announced today that its
wholly-owned subsidiary, Bio-Bridge Science (HK) Co., Ltd. closed the
acquisition of Xinheng Baide Biotechnology Co. Ltd.(the "Seller" or
"Xinheng Baide"), a serum manufacturing company organized under the
laws of the PRC, pursuant to which BGES purchased newly issued shares
of Seller. BGES now controls 51% of the outstanding capital stock of
the Seller. The total cash purchase price for the shares is RMB 6
million (approximately US$ 881,047). Xinheng Baide, located in the
city of Huhhot in Inner Mongolia of the People's Republic of China,
manufactures and distributes bovine serum and other related products
primarily in China. Bovine serum is used in vaccine production as well
as scientific research. Subsequent to the closing today, audited
financials of Xinheng Baide will be filed with the Securities and
Exchange Commission within the time frame stipulated.

   "We are pleased to see the completion of the acquisition of
Xinheng Baide," said Dr. Liang Qiao, Chairman and CEO of Bio-Bridge
Science. "We expect Xinheng Baide to grow significantly in the future
from the synergies of both parties as well as the expected increase in
the demand for serum in China. Xinheng Baide fits into our strategic
plan by providing a potential steady, while growing, source of
revenues to us, as well as providing a new distribution channel for
our products. The acquisition of Xinheng Baide represents our
dedication to our strategic plan and to bringing value to our
shareholders."

   This press release contains forward-looking statements.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. These statements are subject to
uncertainties and risks including, but not limited to, product and
service demand and acceptance, changes in technology, economic
conditions, the impact of competition and pricing, government
regulation, and other risks defined in this document and in statements
filed from time to time with the Securities and Exchange Commission.
All such forward-looking statements, whether written or oral, and
whether made by or on behalf of the company, are expressly qualified
by these cautionary statements and any other cautionary statements
which may accompany the forward-looking statements. In addition, the
company disclaims any obligation to update any forward-looking
statements to reflect events or circumstances after the date hereof.
Please refer to the Company's SEC filings for additional information.

Bio-Bridge Science, Inc.
Chris Young, 630-928-0869
cyoung@bio-bridge-science.com

Copyright Business Wire 2008
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.