Biodarou is a Joint Venture Company, established on Jan 2004 in cooperation with Biotest Aktiengesellschaft (Biotest AG) with registered office in Frankfurt/Main, Germany, a pharmaceutical and diagnostics company whose head quarter is located in Dreieich Germany, and Darou Pakhsh,, with registered office in Tehran, Iran, a pharmaceutical company whose head quarter is located in Tehran Iran, and Advanced Plasma Technology & Supply GmbH, with registered office in Aachen, whose head quarter is located in Aachen, Germany, based on a "Joint Venture Agreement" signed on Sept.11, 2003 in Berlin, Germany, in presence of his Excellency Dr. Ahmadiani, Deputy Minister of Health, Food and Drug Division, and his Excellency Khareghani, Ambassador of the Islamic Republic of Iran in Berlin, Germany. (as attached) Biotest AG – a Prime Standard company – is regarded as being an international specialist for the diagnosis and therapy of immunological disorders and diseases of the heamatopoietic system. Biotest has not only many years of experience in producing plasma products, but also in establishing and operating plasmapheresis centers. Darou Pakhsh, listed on Tehran stock exchange, is the largest Iranian pharmaceutical company with high turnover. The pharmaceutical company, which is mainly owned by Iranian Social Security Organization, has received an Iranian plasmapheresis license from Iranian Ministry of Health as part of state-supported efforts to cover the country's own plasma requirements. This license has now been transferred to BioDarou P.J.S. Biotest holds a 49% share while Darou Pakhsh holds 40% and Advanced Plasma Technology and supply Services GmbH holds 11% in the Tehran-based company. The contract, which is proved by Iranian authorities, contains three main phases, and the first phase, is to establish at least three plasmapheresis centers together with the quality control (QC) laboratories in Iran. Each plasmapheresis center is designed to produce about 50,000 lit
