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Universe Pharmaceuticals INC Announces Strategic Alliance with Jiangxi Province Institute of Materia Medica to Conduct Research on Traditional Chinese Medicine
Ji’an, Jiangxi, China, Jan. 04, 2022 (GLOBE NEWSWIRE) -- Universe Pharmaceuticals INC (the “Company”) (Nasdaq: UPC), a pharmaceutical producer and distributor
About this update from Universe Pharmaceuticals Inc
[{"type":"text","content":"Ji’an, Jiangxi, China, Jan. 04, 2022 (GLOBE NEWSWIRE) -- Universe Pharmaceuticals INC (the “Company”) (Nasdaq: UPC), a pharmaceutical producer and distributor in China, today announced that the Company had entered into two strategic cooperation agreements (the “Agreements”) with Jiangxi Province Institute of Materia Medica (“Jiangxi IMM”), an inspection and testing institution fully funded by the Jiangxi Province Medical Products Administration, which promotes the development of the pharmaceutical industry by conducting research on medical devices and Chinese and Western medicines. Pursuant to the Agreements, the Company authorized Jiangxi IMM to conduct six studies on the quality standard of formula granules of traditional Chinese medicine, including Isatis Root Granule, Epimedium, Sophora Flavescens, Ginseng, Angelica, and Astragalus. The Company will provide related materials and samples to Jiangxi IMM for these studies. The studies shall be conducted in compliance with the requirements and standards of Pharmacopoeia of the People's Republic of China, including stability, reproducibility, and sample size. Upon completion of each of the six studies, Jiangxi IMM will receive payment from the Company. As part of the Agreements, both parties agreed to collaborate on scientific research, talents development, and project collaboration to further create formulas for traditional Chinese medicine. Leveraging their expertise, both parties expect to continue to research and develop on compatibility theory of traditional Chinese medicine, material basis of medicinal effect, and improvement of pharmacological effect and quality standard, and involve in designing and evaluating the process of intelligent manufacturing of traditional Chinese medicine pills. Mr. Gang Lai, Chairman and CEO of Universe Pharmaceuticals INC, commented, “We are excited to partner with Jiangxi IMM. The addition of the extensive experience of Jiangxi IMM to our own research and development (“R&D”) capacity will provide us with a strategic advantage and could bring new business opportunities. By bringing in a medical R&D partner, we expect to accurately identify, quantify, and improve the function of current pharmaceutical products to offer better medical solutions to our customers. We believe the studies of Jiangxi IMM will further help improve our products quality...