647 Song Tao Road, Building 1, No. 5-6
Zhangjiang Hi-Tech Park
Shanghai 201203, P. R. China

July 1, 2004

To Whom It May Concern:

RE:
Letter of Recommendation for Bio-investigations Ltd.
Stewart Rosenberg, President

Since December of 2003, Shanghai Genomics retained Bio-investigations to help out-licensing anti-liver cirrhosis drug candidate, searching for clients for drug development service, as well as seeking venture capital investors.

Shanghai Genomics is a China-based bio-pharmaceutical company founded and managed by biotech professionals returning from USA. It is located in Zhangjiang Hi-Tech Park, Shanghai, China. It has 67 employees and occupied a headquarter with 30,000-square-foot office and laboratory space. We are developing novel therapeutic solutions for major diseases, such as liver cirrhosis, lung fibrosis, bone repair, and infectious diseases. In the meantime, we provide drug discovery service to biopharmaceutical firms worldwide.

In the past six months, Mr. Rosenberg contacted numerous potential collaborators for out-licensing the drug candidate F351. Mr. Rosenberg successfully arranged a series of telephone conference with senior-level scientific and executive individuals at many of the pre-selected companies. In the meantime, Mr. Rosenberg also worked diligently in contacting potential investors for Shanghai Genomics. Mr. Rosenberg’s help have led to contact with many firms that we had difficulty contacting otherwise. All of these offer promise for cooperative programs to further develop the business opportunities. We are pleased with Mr. Rosenberg’s efforts on behalf of Shanghai Genomics, Inc.

It is with pleasure that we recommend Bio-investigations Ltd. and Mr. Stewart Rosenberg for business development assistance in the fields of biotechnology and pharmaceuticals. Mr. Rosenberg’s working knowledge of these markets and his acquaintances with the key players at top levels, are impressive. He is keenly aware of the current business landscape and visionary of future business opportunities. We are particularly impressed with his communication skills, which are critical to the success of business development activities.

Sincerely,

Sam Yi
Senior Director of Business Development
Shanghai Genomics, Inc.