Year 2008

• November 28:  Pegasus Pharmaceuticals Group ("Pegasus") signed a collaborative agreement with China Medical University, Taiwan to cooperate with the Biotechnology Incubation Center of the university.

• November 17:  Four botanical small-molecule products developed by Pegasus have past the strict evaluation by the Ministry of Health, Republic of Georgia.  HemoMex (PandiMex®) and CanaQ (Careseng® SG2) were approved as oncology prescription drugs.  Lipo-Aid (Careseng® MK) and Cardio Guard (Bioseng® #1) were approved as cardio-vascular OTC non-prescription drugs.  This is an important milestone of Pegasus' novel drug development.

• September 24:  Pegasus signed a collaborative agreement with the Taipei Physical Education College of Taiwan.  A study will be conducted on the effectiveness of Careseng® products in enhancing athletes' exercise performance.

• June:  Health Canada issued product licenses for Careseng® DV and NutroPro M in the Careseng® series.

• A large amount of scientific research and clinical data has shown that the botanical small-molecule compound developed by Pegasus is an effective stimuating factor for stem cell growth.  Based on this compound, Pegasus developed the "HS-CSF Therapy" for chronic diseases such as metabolic diseases, degenerative disorders, and autoimmune diseases.  Application at a low to medium dosage may help prevent cancer or chronic disease.

• Pegasus are currently in negotiation with the national oncology centers of Ukraine, Republic of Uzbekistan, Republic of Moldova and other CIS countries for clinical trial collaborations.

• July:  At the National Oncology Center of the Republic of Armenia, Pegasus launched two clinical trials to study the effect of CanaQ (also known as Careseng® SG2) in combination with chemotherapy for treating advanced breast cancer and advanced ovarian cancer.

• April 8:  Dr. Dakui Yin, President of the Chinese Medical Doctor Association and the former Vice Minister of the Ministry of Health of the People's Republic of China, along with his team of over 10 delegates, visited the headquarter of Pegasus Pharmaceuticals Group Inc. (Pegasus) in Canada and had an academic meeting with Pegasus' scientists.

• April 4:  Dr. Chenglian Su and his wife Dr. Lan Lin visited the headquarter of Pegasus Pharmaceuticals Group Inc. ("Pegasus") in Canada and had an academic meeting with Pegasus' scientists about the prospect of treating diabetes with the modernized Chinese Medicine.  Dr. Lin, Ph.D, a Postdoctoral Mentor is the Head of the Diabetes Treatment Center in the State Administration of Traditional Chinese Medicine of the People's Republic of China as well as the Chief Scientist of the China Academy of Chinese Medical Sciences.  Dr. Su is a member of the Clinical Medicine Committee of China Academy of Chinese Medical Sciences, and the former Director of China Academy of Traditional Chinese Medicine.

• Pegasus Wellness Industry Co., Ltd. is established in Taiwan for commercialization of health products and providing elite healthcare services.  The company will set up a chain of membership-based franchise centers in Taiwan.

• Approved by the Investment Commission of Taiwan, Pegasus Pharmaceuticals Group Inc. reinvested in Hongsheng Bio-tech Co. Ltd and will restructure the company into a health center for anti-aging and allergy treatment.  Hongsheng will be the supplier of health products to Pegasus Wellness Industry Co., Ltd.