QPS Expands Clinical Trial Services with Acquisition of Qualitix

Broadens later stage capabilities and Increases Asian presence

NEWARK, Delaware and TAIPEI, Taiwan, March 8, 2011 - QPS, LLC, a leading full-service GLP/GCP-compliant contract research
organization providing testing services to support preclinical and clinical
research and development, announced the acquisition of a majority interest of
Qualitix Clinical Research. Qualitix, a spin-off of the biotechnology company
Genovate, Inc, is a full service CRO with offices in Taiwan and China.
Genovate will retain a minority interest in Qualitix, which will be known as
QPS-Qualitix Taiwan.

QPS is a global CRO supporting drug discovery and development since 1995.
Its six areas of expertise include: Toxicology, DMPK, Bioanalytical,
Translational Medicine, Early Stage Clinical and Late Stage Clinical
Research.

Qualitix is a Contract Research Organization and Site Management
Organization offering high quality, cost effective research development
services to assist clients in pharmaceutical, biotechnology and medical
device industries engaged in new drug development and phase I-IV
multinational clinical trials.

QPS-Qualitix will have the broadest range of product development,
clinical research, and regulatory services in Taiwan. With its strong
Asia-Pacific regional network of CRO partners, QPS-Qualitix acts as an
attractive launching point from which clients may address the rapidly growing
Asian market. QPS-Qualitix also owns a subsidiary corporation called Unitix -
a site management organization which affords QPS-Qualitix the unique
advantage of speedy patient recruitment in the region.

State-of-the-art clinical trial management and electronic data capture
systems enable QPS-Qualitix to deliver first rate data management and
biostatistics services, which will complement the same streamlined clinical
information capabilities offered by QPS Netherlands and QPS-Bioserve India.

"We are very happy to partner with QPS. This partnership will not only
allow Qualitix to vertically integrate with QPS for more global exposure and
market competitiveness, but also offer complete services from preclinical to
clinical to expedite new drug development," says Dr. Jen Chen, CEO of
Genovate.

"This expansion in Phase I-IV clinical capability dovetails with our
recent preclinical facility acquisition here in Taiwan," says Vincent Yen,
President and CEO of QPS-Taiwan. "This represents the fourth cross-border
acquisition QPS has made in the last six months. Clients all over the world
will now have access to an even wider range of the exceptional services they
have come to expect from QPS, along with an expanding global footprint."

QPS-Qualitix has an established network of prominent Taiwanese
investigators at all 22 medical centers. It is the largest local CRO with
broad clinical trial expertise, handling IND trials mainly focused on
oncology and metabolic disorders in Taiwan, for global filing. The depth and
breadth of QPS-Qualitix's experience in this important therapeutic field
attracts major clients and partners including global pharmaceutical clients
as well as local pharmaceutical and biotech clients from the Asia-Pacific
region.

About QPS

QPS provides GLP/GCP-compliant preclinical and clinical research services
to pharmaceutical and biotechnology clients worldwide in the areas of
Bioanalysis, Drug Metabolism and Pharmacokinetics, Toxicology, Translational
Medicine, and Clinical Research. Founded by Dr. Ben Chien in 1995, QPS has
Bioanalysis and Preclinical testing facilities at its Newark, DE
headquarters; and facilities in Groningen, the Netherlands; Taipei, Taiwan;
and Hyderabad, India. Early-phase clinical facilities are located in
Springfield, MO; Taipei, Taiwan; Groningen, the Netherlands; and Hyderabad,
India. Business development offices are maintained in the US, Europe, and
Asia.

About Qualitix

Qualitix is a full service CRO based in Taipei, Taiwan and Shanghai,
China, and focuses on clinical monitoring and site management services for
multinational clinical trials. Its major clients and partners are
international pharmaceutical and biotechnology industries. At Qualitix,
well-trained Clinical Research Associates, Project Managers, Regulatory
Affairs Staff, Quality Control Staff, Safety Reporters and Clinical Research
Trainers produce high-quality studies with high patient enrollment rates.
Major therapeutic categories covered are Infectious Disease, Cardiovascular
Disease, Gastroenterology, Asthma/COPD, Immunology, Obstetrics and
Gynecology, Oncology and CNS

About Genovate

Genovate Biotechnology Co., Ltd. is a fully integrated biopharmaceutical
company located in Taiwan, that is committed to develop innovative medicinal
products that can improve people's health and quality of life. Founded in
1995 as an alliance comprised of industry, government, and private investors,
Genovate currently employs a total of approximately 120 people who develop a
balanced product portfolio of proprietary drugs for a number of therapeutic
indications such as lupus, oncology, urinary incontinence and Type 2
diabetes. Genovate also promotes and sells a range of pharmaceutical (niche)
products from foreign pharmaceutical companies through a network of local
agents in Taiwan as well as in other parts of the Asia Pacific Region.

Ben Chien, PhD, Chairman, President & CEO of QPS Holdings, LLC, +1-302-369-5110 DE office, +1-650-599-9445 CA office, ben.chien at qps-usa.com; Vincent Yen, CEO, QPS Taiwan, +886-2-2655-7555