Anika Research to form joint venture in China to manufacture and market hyaluronic acid products.WOBURN, Mass. --(BUSINESS WIRE)-- Dec. 7, 1994 -- ANIKA RESEARCH, INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on Small Cap:Anik) announced today that it has entered into a Letter of Understanding with Shanghai Jian Hua Industry, Co., Ltd. and its wholly-owned subsidiary Shanghai Jian Hua Factory of Fine Biological Products (Jian Hua), to form a joint venture to manufacture medical grade hyaluronic acid hyaluronic acid: see mucopolysaccharide. Hyaluronic acid A polysaccharide which is an integral part of the gel-like substance of animal connective tissue; it supposedly serves as a lubricant and shock absorbent in the joints. (HA) products in China and market them in China and Southeast Asia. Jian Hua manufactures biomaterials including medical grade HA and was granted approval by the Chinese government in June 1993 to market HA products for the treatment of osteoarthritis osteoarthritis or osteoarthrosis or degenerative joint disease Most common joint disorder, afflicting over 80% of those who reach age 70. It does not involve excessive inflammation and may have no symptoms, especially at first. and the prevention of post-surgical tissue adhesions. Jian Hua has been marketing and selling these HA products in China since January 1994. HA is a naturally occurring biopolymer bi·o·pol·y·mer n. A macromolecule, such as a protein or nucleic acid, that is formed in a living organism. biopolymer any protein or nucleic acid produced by a living organism. found throughout the body that coats, protects and lubricates tissues. Anika will have a majority interest in the joint venture. Financial terms for the agreement were not disclosed. The terms of the Letter of Understanding are subject to the negotiation of a Joint Venture Contract and its approval by the Chinese government. "This joint venture represents an opportunity for Anika because it opens the door to China which has the largest population in the world and is a rapidly growing market. Anika's experience in developing a wide range of HA products and our technical expertise in producing high molecular weight, utrapure HA are essential to the joint venture. The combination of Anika's know-how and intellectual property associated with HA and Jian Hua's approvals to sell HA products in China and their manufacturing and marketing capabilities position the joint venture to benefit greatly form the emerging markets we are entering," said Dr. David Swann, Anika's Chairman and Chief Executive Officer. Anika is a leader in developing technologically advanced HA-based products. Anika's research and product development program is focused on four areas: ORTHOVISC for temporomandibular joint dysfunction temporomandibular joint dysfunction n. Impaired functioning of the temporomandibular articulation of the jaw. temporomandibular joint dysfunction , OSTEOVISC for osteoarthritis, INCERT for the prevention of post-surgical tissue adhesions and HA oligosaccharides oligosaccharides (ol´igōsak´  rīdz),n. (discrete pieces of HA molecule) for drug delivery and the treatment of cancer and proliferative diseases. CONTACT: Anika Research Inc.
Sean Moran, 617/932-6616
or
Neil G. Berkman Assoc.
John Hicks, 310/277-5162
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