Universe Pharmaceuticals INC announced that the Company had entered into two strategic cooperation agreements (the Agreements) with Jiangxi Province Institute of Materia Medica (Jiangxi IMM). Pursuant to the Agreements, the Company authorized Jiangxi IMM to conduct six studies on the quality standard of formula granules of traditional Chinese medicine, including Isatis Root Granule, Epimedium, Sophora Flavescens, Ginseng, Angelica, and Astragalus. The Company will provide related materials and samples to Jiangxi IMM for these studies.

The studies shall be conducted in compliance with the requirements and standards of Pharmacopoeia of the People's Republic of China, including stability, reproducibility, and sample size. Upon completion of each of the six studies, Jiangxi IMM will receive payment from the Company. As part of the Agreements, both parties agreed to collaborate on scientific research, talents development, and project collaboration to further create formulas for traditional Chinese medicine.

Leveraging their expertise, both parties expect to continue to research and develop on compatibility theory of traditional Chinese medicine, material basis of medicinal effect, and improvement of pharmacological effect and quality standard, and involve in designing and evaluating the process of intelligent manufacturing of traditional Chinese medicine pills.