2007-5-31

Beijing, China, June 4th, 2007 - Chemclin, a company successful in diagnostics reagents and systems in China, today announced that it has now completed its first private fund raising. This $5 million round of Series A financing was led by WI Harper Group and Siemens Venture Capital with Softbank China Venture Capital as co-investor. China eCapital acted as exclusive financial advisor to the company on this transaction.

“We are pleased to have preeminent venture capital firms and one of the world’s leading diagnostics company support our company. It is a validation of what we are doing,” said Mr. Xitang Ying, CEO of Chemclin. “The advice and support of top venture capitalists will be of great assistance as we build a global company,” he added.

“We’re extremely pleased to be an investor in Chemclin,” said Peter Liu, Chairman of WI Harper Group. “They have demonstrated and proven their technological capabilities and sit on top of a tremendous opportunity. Their leading market presence and distribution network, combined with their cost-advantages relative to their foreign competitors gives them an excellent position in which to grow. We’re proud of having Siemens VC and Softbank China VC in this round of financing, and look forward to working together more closely in the future.” Peter Liu further noted that the Company enjoys significant first-mover advantages due to its CLIA licenses in specific critical areas.

Richard Hausmann, President and CEO of Siemens Ltd. China, said “We are extending a helping hand to the Chinese government in its plans to provide healthcare to everyone in China. By supporting Chemclin, we want to make sure that cutting-edge diagnostics technologies used around the world are available to all Chinese hospitals and laboratories at a reasonable cost.”

Anupendra Sharma, Investment Partner at Siemens Venture Capital, added “We are excited about our first healthcare funding in China. Chemclin’s management team has done an excellent job of building high quality products and systems, and enjoys an unparalled reputation in the domestic market. With the support of Siemens, we look forward to making the company the unchallenged leader in the Chinese diagnostics markets.” This transaction represents Siemens Venture Capital’s first investment in China.

Peter Hua, General Partner at Softbank China Venture Capital, said ”Chemclin is a market leader in the high growth IVD market in China. With its strong management team and world class technology, we believe Chemclin will continue to excel in domestic and international market.”

About Beijing Chemclin Biotech

Beijng Chemclin Biotech Co., Ltd. (Chemclin) was established in 1999, and has emerged as one of China’s leading diagnostics companies with its own development, manufacturing and distribution headquartered in Beijing. Chemclin develops radioimmunoassay (RIA) kits, ELISA and chemiluminescent (CLIA) kits. The company has a well-established marketing and sales network across China with presence in 30 provinces, more than 2000 local districts and 30,000 towns. www.chemclin.com

About Siemens Venture Capital

Siemens Venture Capital (SVC) is the corporate venture organization for Siemens AG, one of the largest global electronics and engineering companies, with reported worldwide sales of 87.3 billion euros in fiscal 2006.

SVC's goal is to identify and fund investments in emerging and innovative technologies that will enhance the core business scope of Siemens, particularly in the focus areas of long-term growth markets such as Energy & Environmental Care, Automation & Control, Industrial & Public Infrastructure, and Health Care.