UNITED STATES
                       Securities and Exchange Commission
                             Washington, D.C. 20549

                                   Form 10-QSB
(Mark One)
(X)   QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES
      EXCHANGE ACT OF 1934

      For the quarterly period ended MARCH 31, 2003

                                       OR

(  )  TRANSITION  REPORT  PURSUANT  TO SECTION 13 OR 15 (d) OF THE  SECURITIES
      EXCHANGE ACT OF 1934

      For the transition period from _______ to ________.

      Commission File Number 0-29895

                             ROYCE BIOMEDICAL, INC.

              Nevada                                      98-0206542
    State or other jurisdiction             (I.R.S.) Employer Identification No.
    of incorporation

                             Royce Biomedical, Inc.
                           1100-1200 West 73rd Avenue
                       Vancouver, British Columbia V6P 6G5
                     Address of principal executive offices


                                 (604) 267-7080
               Registrant's telephone number, including area code

                                     N/A
                     -------------------------------------
                   Former address of principal executive offices

Indicate by check mark whether the Registrant (1) has files all reports required
to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934
during the preceding 12 months (or for such shorter period that the Registrant
was required to file such reports) and (2) had been subject to such filing
requirements for the past 90 days.

            Yes             X                               No    ________
                  ------------------

     As of May 14, 2003 the Company had 5,051,683  outstanding  shares of common
stock.



<PAGE>



                              ROYCE BIOMEDICAL INC.

                                  Vancouver, BC

                          INTERIM FINANCIAL STATEMENTS
                                   (unaudited)

                                 March 31, 2003





<PAGE>


                              ROYCE BIOMEDICAL INC.
                      INDEX TO INTERIM FINANCIAL STATEMENTS




Interim Review Engagement Report

Interim Balance Sheet                                             Exhibit "A"

Interim Statement of Loss and Deficit                             Exhibit "B"

Interim Statement of Changes in Shareholders' Equity              Exhibit "C"

Interim Statement of Cash Flows                                   Exhibit "D"

Notes to Interim Financial Statements                             Exhibit "E"



                       ---------------------------------


<PAGE>

                            REVIEW ENGAGEMENT REPORT

To the Directors of Royce Biomedical Inc.:

      We have reviewed the interim balance sheet of Royce Biomedical Inc. as at
March 31, 2003 and the interim statements of loss and deficit, changes in
shareholders' equity and cash flows for the year then ended. Our review was made
in accordance with generally accepted standards for review engagements and
accordingly consisted primarily of enquiry, analytical procedures and discussion
related to information supplied to us by the company.

      A review does not constitute an audit and consequently we do not express
an audit opinion on these interim financial statements.

      Based on our review, nothing has come to our attention that causes us to
believe that these interim financial statements are not, in all material
respects, in accordance with generally accepted accounting principles.


                                          "Cinnamon Jang Willoughby & Company"

                                          Chartered Accountants

Burnaby, BC
May 12, 2003


<PAGE>



                                                                     Exhibit "A"
                                ROYCE BIOMEDICAL INC.
                                Interim Balance Sheet
                                     (unaudited)
                                   March 31, 2003
                                    (US Dollars)


Assets                                                      2003        2002
------------------------------------------------------------------------------
Current:
   Cash                                               $    2,403  $      376
   Accounts receivable                                     8,472      11,963
   Prepaid expenses and deposits                               -     100,518
   Loan receivable from a director                             -      79,986
------------------------------------------------------------------------------
                                                          10,875     192,843
Product licence fees (Note 4)                            100,000           -
------------------------------------------------------------------------------
                                                      $  110,875  $  192,843
==============================================================================

Liabilities
------------------------------------------------------------------------------
Current:
   Accounts payable and accrued liabilities           $   58,389  $   64,970
   Loan payable to related party                          35,000           -
                                                          93,389      64,870
------------------------------------------------------------------------------
Shareholders' Equity

Share Capital (Note 5)                                    15,983      15,983
Contributed Surplus (Note 5)                           2,657,827   2,657,827
Deficit, per Exhibit0 "B"                              2,656,324   2,545,937
------------------------------------------------------------------------------
                                                          17,486     127,873

Going Concern (Note 6)
Commitments (Note 7)
------------------------------------------------------------------------------
                                                      $  110,875  $  192,843

==============================================================================


- See accompanying notes -







<PAGE>





                                                                     Exhibit "B"
                                ROYCE BIOMEDICAL INC.
                        Interim Statement of Loss and Deficit
                                     (unaudited)
                      For the Nine Months Ended March 31, 2003
                                    (US Dollars)

<TABLE>
<S>                                                <C>            <C>            <C>             <C>


                                               Three Months   Three Months    Nine Months    Nine Months
                                                  Ended          Ended           Ended          Ended
                                                 March 31,      March 31,       March 31,      March 31,
                                                   2003           2002            2003           2002
                                               ---------------------------    --------------------------
                                                        (Unaudited)                    (Unaudited)
--------------------------------------------------------------------------------------------------------

Sales                                          $       -        $       -      $       -       $       -
Cost of sales                                          -                -              -               -
--------------------------------------------------------------------------------------------------------
Gross Margin                                           -                -              -               -
--------------------------------------------------------------------------------------------------------
Expenses:
   Consulting fees                                     -                -              -           3,947
   Office and sundry (recovery)                    1,108           (1,253)         4,240          (1,013)
   Professional fees                               7,151            3,900         23,256          15,223
   Rent                                              368              366            961           3,416
   Stock transfer agents fees                        106              147            956           1,321
   Telephone                                         402              182            601             771
   Travel and promotion                                -              100            590             791
   Wages and benefits                              7,676            8,225         23,029          24,248
--------------------------------------------------------------------------------------------------------
                                                  16,811           11,667         53,633          48,704
--------------------------------------------------------------------------------------------------------
Net Loss                                          16,811           11,667         53,633          48,704
--------------------------------------------------------------------------------------------------------
Deficit, beginning                             2,639,513        2,534,270      2,602,691       2,497,233
--------------------------------------------------------------------------------------------------------
Deficit, ending, to Exhibit "A"               $2,656,324       $2,545,937     $2,656,324      $2,545,937
========================================================================================================

Loss per share                                $     0.00       $     0.00     $     0.01      $     0.01
========================================================================================================

</TABLE>



- See accompanying notes -

<PAGE>


                                                                     Exhibit "C"
                                ROYCE BIOMEDICAL INC.
                Interim Statement of Changes in Shareholders' Equity
                                     (unaudited)
                      For the Nine Months Ended March 31, 2003
                                    (US Dollars)


                                                 Common
                                                 Shares  Contributed
                                     Shares      Amount    Surplus    Deficit
-------------------------------------------------------------------------------
Balance, June 30, 2001             5,051,683    $15,983  $2,657,827  $2,497,233
Net Loss, per Exhibit "B"                  -          -           -      48,704
-------------------------------------------------------------------------------
Balance, March 31, 2002            5,051,683    $15,983  $2,657,827  $2,545,937
-------------------------------------------------------------------------------

Balance, June 30, 2002             5,051,683    $15,983  $2,657,827  $2,602,691
     Net Loss, per Exhibit "B"             -          -           -      53,633
Balance, March 31, 2003            5,051,683    $15,983  $2,657,827  $2,656,324
===============================================================================


- See accompanying notes -


<PAGE>


                                                                     Exhibit "D"
                                ROYCE BIOMEDICAL INC.
                           Interim Statement of Cash Flows
                                     (unaudited)
                      For the Nine Months Ended March 31, 2003
                                    (US Dollars)

<TABLE>
<S>                                                <C>            <C>            <C>             <C>


                                               Three Months   Three Months    Nine Months    Nine Months
                                                  Ended          Ended           Ended          Ended
                                                 March 31,      March 31,       March 31,      March 31,
                                                   2003           2002            2003           2002
                                               ---------------------------    --------------------------
                                                        (Unaudited)                    (Unaudited)
--------------------------------------------------------------------------------------------------------

Operating Activities:
  Net Loss, per Exhibit "B"                    $ (16,811)      $ (11,667)     $ (53,633)      $ (48,704)

Changes in non-cash working capital -
  (Increase) Decrease in accounts receivable         (63)          1,182             96          (4,444)
  Increase (Decrease) in loan receivable
   from a director                                     -            (682)             -           2,909
  Increase (Decrease) in accounts payable and
   accrued liabilites                              7,539               -         20,794          (8,562)
  Increase (Decrease) in loan payable to a
   related party                                  10,000               -         35,000               -
---------------------------------------------------------------------------------------------------------

Net Increase (Decrease) in Cash                      665         (11,167)         2,257         (58,801)
Cash, beginning                                    1,738          11,543            146          59,177
---------------------------------------------------------------------------------------------------------

Cash, ending                                    $  2,403       $     376      $   2,403       $     376
=========================================================================================================

</TABLE>




<PAGE>

                                                                    Exhibit "E"
                                ROYCE BIOMEDICAL INC.
                        Notes to Interim Financial Statements
                                     (unaudited)
                                   March 31, 2003
                                    (US Dollars)


1. Principles of Accounting and General Information:

    The accompanying unaudited interim financial statements have been prepared
    in accordance with generally accepted accounting principles in the United
    States and Form 10-QSB requirements. Accordingly, they do not include all of
    the information and footnotes required by generally accepted accounting
    principles for complete financial statements. In the opinion of management,
    the accompanying interim financial statements contain all the adjustments
    (consisting of only normal recurring accruals) necessary to present fairly
    the Company's financial position as of March 31, 2003 and its results of
    operations and its cash flows for the three and nine month periods ending
    March 31, 2003. The results of operations for the interim period are not
    necessarily indicative of the results to be expected for the fiscal year.
    For further information, refer to the financial statements and related
    footnotes for the year ended June 30, 2002 included in the Company's annual
    report on Form 10-KSB.

    The company was incorporated on March 22, 1995 under the jurisdiction of the
    State of Nevada.

2.  Accounting Policies:

    a) Cash -

        Cash consists of funds in bank accounts integral to the company's cash
        management.

    b) Foreign Currency Translation -

        Assets and liabilities of Canadian operations are translated into United
        States currency at exchange rates prevailing at the balance sheet date
        for monetary items and at rates prevailing at the transaction date for
        non-monetary items. Revenue and expenses, except amortization, are
        converted at the average exchange rates for the year. Amortization is
        converted at the same rate as the related assets.

        Foreign exchange gains or losses on monetary assets and liabilities are
        included in operations.

    c) Use of Estimates -

        The preparation of financial statements in conformity with generally
        accepted accounting principles requires management to make estimates and
        assumptions that affect the amounts reported in the financial statements
        and accompanying disclosures. Although these estimates are based on
        management's best knowledge of current events and actions the company
        may undertake in the future, actual results may differ from the
        estimates.

3.      Financial Instruments:

        Fair Values -

        Unless otherwise noted, cash, accounts receivable, loan receivable from
        a director, accounts payable and accrued liabilities and loan payable to
        a related party are stated at amounts that approximate their book value.



<PAGE>



                                                                     Exhibit "E"
                                ROYCE BIOMEDICAL INC.                Continued
                      Notes to Interim Financial Statements
                                     (unaudited)
                                 March 31, 2003
                                    (US Dollars)


                                                          March 31,   June 30,
4.Product Licence Fees:                                     2003        2002
                                                               (unaudited)
------------------------------------------------------------------------------

    Produce licence fees, at cost                       $110,000    $110,000
    Less:  Accumulated amortization                       10,000      10,000
------------------------------------------------------------------------------
                                                        $100,000    $100,000
==============================================================================

    At March 31, 2003, the company has applications in progress for licence
    renewals of the H Pylori antibody and M Tuberculosis Test Kits and has new
    applications in progress for HIV and Syplis Test Kits in the People's
    Republic of China. The company has expended $100,000 towards these
    applications and renewals. This amount will be amortized over the useful
    life of the permits when received.

5.  Share Capital and Contributed Surplus:

    Authorized -
        100,000,000   Common shares with a par value of $.001 each
          5,000,000   Preferred shares with a par value of $.001 each

                                                Common Shares    Contributed
        Issued and Outstanding -             # Shares     Amount   Surplus
------------------------------------------------------------------------------

    Balance forward June 30, 2001,
     no changes                               5,051,683   $15,983  $2,657,827
                                             ===============================

    At March 31, 2003, 4,275,989 (June 30, 2002 - 4,275,989) common shares were
    restricted from trading.

    Granting of stock options to employees and directors may give rise to a
    charge to income for compensation. In accordance with APB 25 under which
    stock options are measured by the intrinsic value method, employee and
    director compensation cost is limited to the excess of the quoted market
    price at date of grant over the option price. Alternatively, in accordance
    with SFAS-123, stock options could be valued using a fair market value
    method such as the Black-Scholes option pricing model. At the date the
    options were granted, there were no available market prices, therefore, it
    is not possible to determine the value of the options.

6.  Going Concern:

    While the financial statements have been prepared on the basis of accounting
    principles applicable to a going concern, the occurrence of significant
    losses to date raises substantial doubt upon the validity of this
    assumption.

    The company has experienced significant losses over the past five years,
    including $53,633 in the current period and has an accumulated deficit of
    $2,656,324 at March 31, 2003. The company's continued existence as a going
    concern is dependent upon its ability to continue to obtain adequate
    financing arrangements and to achieve and maintain profitable operations.

<PAGE>

                                                                     Exhibit "E"
                                ROYCE BIOMEDICAL INC.                Continued
                        Notes to Interim Financial Statements
                                     (unaudited)
                                   March 31, 2003
                                    (US Dollars)

6.  Going Concern (Continued):

    If the going concern assumption was not appropriate for these financial
    statements, then adjustments may be necessary in the carrying value of
    assets and liabilities, the reported net loss and the balance sheet
    classifications used.

    The company has financed its activities primarily from the proceeds of
    various share issues and loans from related companies. As a result of the
    company being in the early stages of operations, the recoverability of
    assets on the balance sheet will be dependent on the company's ability to
    obtain additional financing and to attain a level of profitable operations
    from the existing facilities in production and/or the disposition thereof.

7.  Commitments:

    During the year ended June 30, 1997, the company issued shares to a number
    of investors in British Columbia, Canada at $1.42 ($2.00 Canadian). Pursuant
    to the British Columbia Securities Act, an Offering Memorandum should have
    accompanied the issuance of these shares. As they were not, the shareholders
    were offered the opportunity to rescind the purchase of the shares for a
    refund of the entire purchase price. Requests from shareholders to rescind
    14,250 common shares were received within the required time limit. The
    company is required to refund an amount of $20,347. At March 31, 2003, these
    amounts have not been repaid and are included in accounts payable and
    accrued liabilities.

8.  Related Party Transactions:

    In addition to the transactions described elsewhere in the financial
    statements, the company had the following transactions with officers and
    directors of the company.

                                                      Nine Months  Nine Months
                                                           Ended         Ended
                                                        March 31,    March 31,
                                                            2003         2002
                                                      (unaudited)   (unaudited)
------------------------------------------------------------------------------

   Expenses -
     Wages                                            $ 23,029    $ 22,448

   These transactions are in the normal course of operations and are measured at
   the exchange amount, which is the amount of consideration established and
   agreed to between the parties.

9. Income Taxes:

   The company has net losses for income tax purposes totalling approximately
   $2,646,005 which may be applied against future taxable income. The potential
   benefit arising from these losses has been recognized as a deferred tax
   asset. To the extent that those benefits may not be realized, a valuation
   allowance is provided for. The company's deferred tax balances are as
   follows:




<PAGE>



                                                                     Exhibit "E"
                             ROYCE BIOMEDICAL INC.                 Continued
                      Notes to Interim Financial Statements
                                   (unaudited)
                                 March 31, 2003
                                  (US Dollars)


9.  Income Taxes (Continued):
                                                         March 31,   June 30,
                                                         2003        2002
                                                            (unaudited)
------------------------------------------------------------------------------

    Deferred tax asset, beginning of year               $897,500    $862,500
    Benefit of current year's operating loss
     carried forward                                      18,700      34,700
------------------------------------------------------------------------------

    Deferred tax asset, end of year                      915,900     897,200
------------------------------------------------------------------------------

    Valuation allowance, beginning of year               897,200     862,500
    Current year's provision                              18,700      34,700
------------------------------------------------------------------------------

    Valuation allowance, end of year                     915,900     897,200
------------------------------------------------------------------------------
                                                      $        -   $       -
==============================================================================


   As the company has no history of profits, management believes that it is more
   likely than not some or all of the deferred tax asset will not be realized
   and has provided a full valuation allowance against the deferred tax asset.
   The right to claim these losses expire as follows:

                     2010                      $   173,000
                     2011                          599,000
                     2012                          748,000
                     2013                          508,976
                     2014                          163,944
                     2015                          159,585
                     2016                          134,989
                     2017                          105,500
                     2018                           53,011
                                              ------------
                                                $2,646,005
                                              ============










<PAGE>

                   MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND PLAN OF OPERATION


      At the present time the Company plans to assemble medical diagnostic test
kits in China to reduce costs. The Company plans to purchase the main components
for its test kits from manufacturers in the United States. Xili Pharmaceutical
Group Inc., an affiliated entity, has agreed to supply the required assembly
space in one of its pharmaceutical manufacturing plants.

   The Company may also attempt to obtain the necessary approvals to manufacture
the components of the H. Pylori and other test kits in China. Rather than
building its own manufacturing facility, the Company would pursue the
acquisition of a subsidiary of Xili Pharmaceutical Group that manufactures
pharmaceutical products.

    The Company does not have any available credit, bank financing or other
external sources of liquidity. Due to historical operating losses, the Company's
operations have not been a source of liquidity. In order to obtain capital, the
Company may need to sell additional shares of its common stock or borrow funds
from private lenders. During the twelve months ending December 31, 2003 the
Company will need approximately $4,000,000 in additional capital for acquisition
of a subsidiary of Xili Pharmaceutical Group that manufactures pharmaceutical
products and manufacturing H. Pylori test kits in China. In addition, if during
the twelve months ending December 31, 2003, the Company suffers additional
losses, the Company will need to obtain additional capital in order to continue
operations.



<PAGE>



Item 4. Controls And Procedures

      Based on the evaluation of the Company's disclosure controls and
      procedures by Kathy Jiang, the Company's Chief Executive and Financial
      Officer, as of a date within 90 days of the filing date of this quarterly
      report, such officers have concluded that the Company's disclosure
      controls and procedures are effective in ensuring that information
      required to be disclosed by the Company in the reports that it files or
      submits under the Securities and Exchange Act of 1934, as amended, is
      recorded, processed, summarized and reported, within the time period
      specified by the Securities and Exchange Commission's rules and forms.

      There were no significant changes in the Company's internal controls or in
      other factors that could significantly affect these controls subsequent to
      the date of their evaluation, including any corrective actions with regard
      to significant deficiencies and material weaknesses.


                                     PART II
                                OTHER INFORMATION


Item 6. Exhibits and Reports on Form 8-K

(a)   Exhibits
            No exhibits are filed with this report.

(b) Reports on Form 8-K

            The Company did not file any reports on Form 8-K during the quarter
            ending March 31, 2003.



















<PAGE>



                                   SIGNATURES

      Pursuant to the requirements of Section 12 of the Securities Exchange Act
of 1934, the registrant has duly caused this registration statement to be signed
on its behalf by the undersigned, thereunto duly authorized.

                                    ROYCE BIOMEDICAL, INC.



Date:  May 14, 2003          By  /s/ Kathy Jiang
                                 ---------------------------------
                                 Kathy Jiang
                                 President and Principal Financial Officer



                                  CERTIFICATION

      In connection with the Quarterly Report of Royce Biomedical, Inc. (the
"Company") on Form 10-QSB for the period ending March 31, 2003 as filed with the
Securities and Exchange Commission on the date hereof (the "Report"), I, Kathy
Jiang, Chief Executive and Financial Officer of the Company, certify, pursuant
to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002, that to the best of my knowledge:

(1)         The Report fully complies with the requirements of section 13(a) or
            15(d) of the Securities Exchange Act of 1934; and

(2)         The information contained in the Report fairly presents, in all
            material respects the financial condition and results of the
            Company.



Date:  May 14, 2003          By  /s/ Kathy Jiang
                                 ---------------------------------
                                   Kathy Jiang
                                   President and Principal Financial Officer





<PAGE>



                                  CERTIFICATION
                 (separate from Sarbanes Section 906 certification)

I, Kathy Jiang, the Chief Executive and Financial Officer of Royce Biomedical
Inc., certify that:

1.       I have reviewed this Quarterly Report on Form 10-QSB of Royce
         Biomedical, Inc.;

2.       Based on my knowledge, this Quarterly Report does not contain any
         untrue statement of a material fact or omit to state a material fact
         necessary to make the statements made, in light of the circumstances
         under which such statements were made, not misleading with respect to
         the period covered by this Quarterly Report;

3.       Based on my knowledge, the financial statements, and other financial
         information included in this Quarterly Report, fairly present in all
         material respects the financial condition, results of operations and
         cash flows of the Registrant as of, and for, the periods presented in
         this Quarterly Report;

4.       I am responsible for establishing and maintaining disclosure controls
         and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for
         the Registrant and I have:

a.       designed such disclosure controls and procedures to ensure that
         material information relating to the Registrant, including its
         consolidated subsidiaries, is made known to us by others within those
         entities, particularly during the period in which this quarterly report
         is being prepared;

b.       evaluated the effectiveness of the Registrant's disclosure controls and
         procedures as of a date within 90 days prior to the filing date of this
         Quarterly Report (the "Evaluation Date"); and

c.       presented in this Quarterly Report our conclusions about the
         effectiveness of the disclosure controls and procedures based on our
         evaluation as of the Evaluation Date;

5.       I have disclosed, based on my most recent evaluation, to the
         Registrant's auditors and the audit committee of Registrant's board of
         directors (or persons performing the equivalent function):

a.       all significant deficiencies in the design or operation of internal
         controls which could adversely affect the Registrant's ability to
         record, process, summarize and report financial data and have
         identified for the Registrant's auditors any material weaknesses in
         internal controls; and

b.       any fraud, whether or not material, that involves management or other
         employees who have a significant role in the Registrant's internal
         controls; and

6.       I have indicated in this Quarterly Report whether or not there were
         significant changes in internal controls or in other factors that could
         significantly affect internal controls subsequent to the date of our
         most recent evaluation, including any corrective actions with regard to
         significant deficiencies and material weaknesses.


Date: May 14, 2003                    By  /s/ Kathy Jiang
                                          ---------------------------------
                                          Kathy Jiang
                                          President and Principal Financial
                                          Officer