News Release

Shanghai Genomics, Inc. (Shanghai Genomics), a wholly owned subsidiary of GNI Group Ltd., has entered into a consulting agreement with Inceptua GmbH (Inceptua) to conduct business development activities for clinical drug supply services, like comparator sourcing and clinical manufacturing, in China. With offices in Switzerland, Germany, the UK, the US, Japan, and China, Inceptua is a division of Multipharma S.A., a Luxembourg-based firm that offers supply and sourcing services for medicinal products, medical products and auxiliary supplies for clinical trials throughout the world.

In 2016, CFDA has implemented a new set of policies to strengthen the oversight of generic drugs produced in China, which represent more than 90% of the China pharmaceutical industry. Major generic drugs are required to complete consistency evaluation studies by the end of 2018. Comparator drugs are the key reagents utilized for such clinical studies. Shanghai Genomics has been selling reagents since 2001 to both academia and pharmaceutical companies domestically in China and internationally. In conjunction with its collaboration with Inceptua, Shanghai Genomics will use its existing sales and business development team to seek new opportunities and additional revenue in China for the GNI Group, including the majority owned subsidiary Beijing Continent Pharmaceuticals Co, Ltd. which has more than 10 generic drugs in production.