Exhibit 99.5
Summary of Understanding between
Xi’an Tianxing Bio-Pharmaceutical Co., Ltd. and
Shanghai Poultry Verminosis Institution
The following is a summary of understanding between Xi’an Tianxing Bio-Pharmaceutical Co., Ltd. (“Xi’an Tianxing”) and Shanghai Poultry Verminosis Institution (the “Institution”), which is not memorialized in writing:
1. | Xi’an Tianxing shall establish and operate a research and development center (the “Center”) at its facilities in Shanghai and provide for all necessary research equipment and materials, as well as the daily operational costs of the Center. |
2. | The Center shall be staffed by technicians from both parties. |
3. | Xi’an Tianxing shall have the right to acquire exclusivity rights to any technology developed by the Institution at the Center, upon terms to be mutually agreed to by the parties. |