From the Wires
Chanceton Financial Group Limited Completed the Acquisition of 20% Equity Interests in Revenue Synthesis Limited
Dec. 7, 2012 03:06 AM
In Line with the AIDS Prevention Policy of the National 12th Five-Year Plan
The Completion of the Phase IIA of Clinical Trials of the AIDS Medication Capsule
Hong Kong, Dec 7, 2012 - (ACN Newswire) - Chanceton Financial Group, an one-Stop integrated and diversified financial services company, ("Chanceton" or the "company" stock code: 8020, the company and its subsidiaries collectively called the "Group") is pleased to announce that with the reference of the announcement of the Company dated 24 August 2012 in relation to the acquisition of 20% equity interests in Revenue Synthesis Limited relating to AIDS medication business, with all conditions precedent under the Sale and Purchase Agreement dated 24 August 2012 had been fulfilled, the completion has been taken place on 5 December 2012.
The Board is also pleased to announce that the Phase IIa of the clinical trials of the AIDS Medication Capsule was completed on 23 September 2012 and the results of such clinical trial reports published by relevant hospitals was satisfied by the Purchaser at its absolute discretion on 5 December 2012. In conclusion, Phase IIa has showed that the AIDS Medication Capsule has significant effect on suppressing the viral replication of HIV/AIDS virus and is effective and safe for HIV/AIDS therapy. The study also shows that middle-dose is the most effective dosage for the therapy. As a result, Beijing Century Health will proceed to Phase IIb, aiming to further assess the efficacy and safety of the specified dosage (middle-dose) of AIDS medicine on HIV/AIDS patients.
According to the "China AIDS Epidemic Assessment Report 2011" announced by the Chinese Ministry of Health in 2012, as of the end of 2011, it is estimated that 780,000 people are living with HIV /AIDS in China and 48,000 new HIV infected patients. Since the forming of the AIDS prevention working committee and institution in China in 2004, the funding for AIDS prevention has been increasing in recent years, from RMB 1.2 billion in 2002 up to RMB 23.9 billion in 2012. The World AIDS Day 2012, held on 1 December every year, has recently taken place; the PRC leaders expressed great awareness to this year's event. In the "12th Five-Year AIDS Suppression and Prevention Action Plan", it mentioned the expansion of medication coverage, the enhancement of medication quality and accessibility of treatment in order to cope with the challenges, posed by the entering of the stage that occurring symptoms in domestic AIDS patients, the increasing in the difficulties of AIDS prevention, the increasing risk of transmission and the increasing demand of medication funding.
"This herbal AIDS medicine invented by Beijing Century Health, coupled with clinical trials matching the Western standard, is the first Chinese medicine for AIDS medication in China. In line with the AIDS prevention policy of the National 12th Five-Year Plan, we believe that it has high growth potential in China and over the world. Through this strategic acquisition, we are able to maximize our shareholders' value. The result of the Phase IIa of clinical trials has been encouraging and we are looking forward to a more arousing result from Phase IIb.", says Mr. Wong Kam Wah, the chairman of the Group.
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