Axm Pharma Inc AMEX: AXJ


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AXM Pharma Receives Approval from Chinese Food and Drug Administration to Market New Treatment for Diabetes; Drug Demonstrates Efficacy in Clinical Activities
12/23/2005 9:22:01 AM

LAS VEGAS, Dec 23, 2005 (BUSINESS WIRE) -- AXM Pharma, Inc. (AXJ), a manufacturer of proprietary and generic pharmaceutical and nutraceutical products for the Chinese and other Asian markets, announced today that its wholly-owned subsidiary AXM Pharma, (Shenyang) Inc., has received approval from the Chinese Food and Drug Administration to sell Glucostrim(TM) (Qiyao) Anti-diabetes Capsules in China, its new treatment for diabetes. The Company received a New Drug Certificate, allowing it to produce and sell the product commencing in March.

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Glucostrim(TM) (Qiyao) Anti-diabetes Capsules, employing traditional Chinese medicine, are designed to raise the level of the body insulin so as to reduce the glucose, and uses natural herbal medicine extracts with the Company's proprietary new technology. The drug has proven to be effective in clinical studies with 600 cases through 18 month conducted at Affiliate Hospital of Changchun Chinese Medicine College, Affiliate Hospital of Liaoning Chinese Medicine College, Beijing Traditional Chinese Medicine Hospital and Xiyuan Hospital of China Medicine Academy. These studies also reported that the capsules are non-toxic and do not cause adverse side effects commonly associated with other treatments.

"We are very excited to receive marketing approval for this promising product," said Weishi Wang, Chairman and CEO of AXM Pharma. "Diabetes is a growing problem in China and internationally and this product, which has proven effective in treating diabetes without the associated side effects, provides the Company with a significant revenue opportunity."

According to The Asia Times, there are now 90 million people with diabetes in Asia. Asia is home to four of the world's five largest diabetic populations -- India, 33 million people with diabetes; China, 23 million; Pakistan, 9 million; and Japan, 7 million. Globally, the World Health Organization estimates the global diabetes population will grow to more than 200 million in 2010 and 330 million in 2025. The burden in Asia will increase -- in less than a decade 60% of all diabetes cases globally are expected to be in Asia.

About AXM Pharma, Inc.

AXM Pharma, Inc., through its wholly owned subsidiary, AXM Pharma Shenyang, Inc. ("AXM Shenyang"), is a manufacturer of proprietary and generic pharmaceutical products, which include injectables, capsules, tablets, liquids and medicated skin products for export and domestic Chinese sales. AXM Shenyang is located in the City of Shenyang, in the Province of Liaoning, China. AXM Shenyang has an operating history of approximately 10 years. For additional information on AXM Pharma Inc., please visit or call the Company's investor relations firm, the MKR Group, at 818-556-3700.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this news release include certain predictions and projections that may be considered forward-looking statements under securities law, including the statements regarding the Company's opportunities for future growth. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the performance of joint venture partners, obtaining regulatory approvals to market the Company's products, the uncertainties associated with distributing products in a developing country such as China, the availability of cash to meet near term requirements as well as other economic, competitive and technological factors involving the Company's operations, markets, services, products and prices. With respect to AXM, except for the historical information contained herein, the matters discussed in this news release are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties include, but are not limited to, AXM's extremely limited operating history, uncertainties related to the Company's access to additional capital, competition and dependence on key management.

SOURCE: AXM Pharma, Inc.

CEOcast, Inc. for AXM Pharma
Daniel Schustack, 212-732-4300

Copyright Business Wire 2005


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AXM Pharma Receives Notification from Securities and Exchange Commission
1/5/2006 9:00:06 AM

LAS VEGAS, Jan 05, 2006 (BUSINESS WIRE) -- AXM Pharma, Inc. (AXJ) ("AXM"), a manufacturer of proprietary and generic pharmaceutical and nutraceutical products for the Chinese and other Asian markets, announced today that it has received notification from The Securities and Exchange Commission ("SEC") that it has commenced a formal investigation to determine if AXM Pharma, Inc., and unnamed persons formerly and currently associated with the Company, violated the federal securities laws. Pursuant to a Formal Order of Investigation issued on December 8, 2005 and made available to the Company on December 29, 2005, the SEC staff is seeking to determine if SEC filings and press releases issued by AXM, including for the period from April 2005 through October 2005, contained false and misleading statements of material fact regarding the Company's revenues, expenses, earnings and losses. In addition, the SEC staff is investigating, among other things, whether or not, for the relevant time period, AXM failed to keep required books and records, failed to devise and maintain sufficient internal accounting controls, falsified books and records and made false and misleading statements to its independent accountants

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