HENDERSON, NEVADA--(Marketwire - 05/10/11) - Global General Technologies Inc. (PINK SHEETS:GLGT - News)(www.glgt-corporate.com) and its main subsidiary, AB (Wuhan) Biotech Co. Ltd., have invested in a joint venture with three other parties in Wuhan, China.
AB (Wuhan) Biotech signed a Letter of Intent in March 2011 with these parties to invest in and set up a joint venture focusing on the research and development of biotech products for diagnosing, preventing and treating rabies, which is the biggest life-threatening infectious disease in China and a major problem in India and other countries.
AB (Wuhan) Biotech will be the biggest shareholder in this new company. Another major shareholder will be a top scientist in the area of rabies research who is currently serving as a full-time professor at a respected American university.
GLGT recently acquired AB (Wuhan) Biotech, a Wuhan, China-based biotech company that's committed to developing, commercializing and popularizing advanced in vitro diagnostic (IVD) kits and devices.
GLGT will keep its followers and investors updated on this new joint venture and other company developments on a timely basis.
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Global General Technologies Inc.
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