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Rhei Pharmaceuticals HK Ltd. and Oystershell NV sign Tixozin Agreement for China


Hong Kong – April 15 2011 – RHEI Pharmaceuticals HK Ltd. (“RHEI”), a Hong Kong based pharmaceutical company and a subsidiary of Luxembourg-based Leeward Ventures SICAR SCA, and Oystershell NV (“OYSTERSHELL”), a research and development company out of Drongen, Belgium, have entered into an exclusive distribution agreement to launch Tixozin, a unique product for diaper dermatitis, in China.

Coinciding with the signing of the above agreement, OYSTERSHELL also approved a sub-distribution agreement between RHEI and Beijing King Health Investment Company Ltd. (“KING”), in China, to leverage KING’S extensive sales, marketing and regulatory infrastructure for the launch of Tixozin in China.

“We are excited about the new relationship with Beijing King Healthcare in China, as it greatly expands our reach throughout the region with significant sales representative presence,” said Sven de Backer, CEO of Rhei Pharmaceuticals. He continued, “We believe King’s local expertise in the market will expedite the ongoing marketing approval process allowing us to begin providing patients with a novel, spray treatment for diaper dermatitis.”

“We look forward to working with RHEI and OYSTERSHELL to bringing Tixozin to market in China,” said Mr. Yu, CEO of Beijing King Health Investment Co Ltd. He continued, “We believe Tixozin will allow us to continue to increase our presence as a leader consumer health brands in China, and is an important addition to our growing product portfolio. We look forward to its commercial launch.”

The Chinese market is the fastest growing, emerging market in the world with estimated sales of over $20.0 Bn US dollars and double digit growth. The OTC segment of the market continues to grow and represents approximately 25% of the total Chinese pharmaceutical market. With a growing economy and increased purchasing power, the market offers many opportunities for RHEI to continue to expand it’s business and partnerships in China.

About RHEI Pharmaceuticals Rhei Pharmaceuticals Ltd. (RHEI) is a global pharmaceutical business development firm, with special focus on bringing core medicines from the U.S., Europe and Japan into the fast-growing South-East Asian marketplace. They are experts in business development, regulatory approval and clinical development and have a management team that combines a Western approach to pharmaceuticals with a long experience in Europe, North America and South-East Asia. They use their development capabilities and network of preferred commercial partners to help other pharmaceutical companies introduce their products into specific niche markets, such as the European institutional health care market and the Chinese hospital market. RHEI is headquartered in Hong Kong and has operations in Belgium, the US and China. www.rheipharma.com

About Oystershell Oystershell NV is a privately held independent developer of consumer healthcare products. Their focus is on strategic research and the development of innovative pharmaceutical products for over the counter sales . Oystershell develops exclusively for third party marketing partners in the pharmaceutical area and has over 10 patent applications in Dermatology. Oystershell NV is located in Belgium www.Oystershell.com.

About Beijing King Healthcare Beijing King Health Investment Co., Ltd. was founded in 2002 and is based in Beijing, China. They have specialized teams in the areas of project approval, R&D, registration as well as marketing and promotion and is focused on bringing unique products to the Chinese market. Beijing King Healthcare Investment Co. Ltd. is one of nine subsidiaries under the Grand Investment International Group of Companies.