Singapore. July 30, 2010: China PharmaHub, a pharmaceutical HUB between Chinese pharmaceutical companies and other pharmaceutical companies located worldwide, announced  that it has entered into a merger agreement with World Wide Relics. The merger is expected to close in August 2010. PharmaHub's business is the identification, licensing, development and commercialization of pharmaceutical and healthcare products and technologies between China and the rest of the world.  Its initial focus is on the US and Europe, with the goal of assisting small biotech companies and individuals in bringing their projects to market and large biotech companies in expanding their coverage to the PRC. 

The merger with WWR will provide PharmaHub with the additional resources and exposure to enhance its existing project pipeline. The biotech market has experienced challenges with large pharmaceutical companies having patent expirations, increased costs and risks of developing new drugs and the lack of a promising new drug pipeline.  Small biotech companies have faced limited funding resources, especially in light of the difficulties currently experienced by the capital markets. 

PharmaHub believes it can turn these challenges into opportunities by utilizing its HUB to enable the large pharmaceutical companies to bring their existing portfolio to the PRC and also introducing licensing opportunities with respect to drug candidates in various stages of clinical trials.  For small biotech companies, PharmaHub believes that its strategic relationships can help bridge the funding gap enabling them to continue their preclinical and clinical studies.