EXHIBIT 10.3
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                   NEW DRUG RESEARCH AND DEVELOPMENT AGREEMENT

      THIS AGREEMENT is made at Dalian as of Nov. 8, 2004 by and between Dalian
Longsheng Pharma Co., Ltd, having a place of business at 24th Floor, Zhongyin
Building, No. 15 Ren Min Road, Zhongshan District, Dalian("DLP" or "Party A"),
and Shanghai Newsummit Biopharma Co., Ltd, having a place of business at No. 398
Tian Lin Road, Cao He Jing Hi-tech Park, Shanghai 200233("SNB" or "Party B").

    WHEREAS, DLP is a pharmaceutical manufacturer holding a pharmaceutical
production permit and a pharmaceutical GMP Certification issued by the State
Food and Drug Administration ("SFDA") and relevant governmental departments;

    WHEREAS, SNB is a Contract Research Organization (CRO) for biotechnology,
biopharma and international pharmaceutical companies in China and has
proprietary information and technology related to KGF-2 for the treatment of
wound and ulceration;

    WHEREAS, DLP desires that SNB perform certain research and development work
and new drug application and is willing to provide materials to support such
work;

    WHEREAS, DLP desires to obtain the results of such research as well as
certain rights to SNB's intellectual property;

    WHEREAS, DLP desires to have the exclusive right to manufacture and market
the new drug subject to the approved pharmaceutical number granted by the SFDA;

    WHEREAS, SNB is willing to undertake such research and development and to
grant to DLP such rights, subject to the terms of this agreement.

     NOW, THEREFORE, pursuant to the Law of People's Republic of China on
Administration of Pharmaceutical, Contract Law and Regulations on Registration
of Pharmaceutical Products, as amended from time to time, and in consideration
of the premises and mutual covenants herein contained, DLP and SNB agree as
follows:

1. NEW DRUG RESEARCH PROGRAM

1.1    Definition. "New Drug Research Program" shall mean the research program
       of of KGF-2 pre-clinical research, clinical research and new drug
       application.
1.2    Research Efforts. Both Parties shall use reasonable best efforts, to
       conduct the New Drug Research Program jointly in accordance with this
       Agreement.

2. EACH PARTY'S RESPONSIBILITIES

2.1    Responsibilities of Party A. DLP shall take the following
       responsibilities:
2.1.1  pay for the research service fee of KGF-2 subject to the conditions set
       forth in Article 5.1 of this Agreement;
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2.1.2  assist Party B to complete KGF-2 new drug application;
2.1.3  pay for the clinical research costs of KGF-2 subject to the conditions
       set forth in Article 5.2 of this Agreement;
2.1.4  assist Party B to complete KGF-2 phase I, II, III clinical research;
2.1.5  be responsible for KGF-2 phase IV clinical research;
2.1.6  undertake KGF-2 commercialization research and GMP certification;
2.1.7  pay for GMP technology enhancement costs during production trial of
       KGF-2;
2.1.8  be responsible for manufacturing, sales and business management of KGF-2.
2.2    Responsibilities of Party B. SNB shall take the following
       responsibilities:
2.2.1  be responsible for KGF-2 pre-clinical research
2.2.2  be responsible for KGF-2 pilot products for use in phase I, II, III
       clinical research;
2.2.3  be responsible for phase I, II, III clinical research;
2.2.4  be responsible for KGF-2 new drug application;
2.2.5  assist Party A to complete KGF-2 phase IV clinical research;
2.2.6  assist Party A to complete KGF-2 commercialization research and GMP
       certification;
2.2.7  assist Party A to undertake KGF-2 marketing and distribution.

3. INTELLECTUAL PROPERTY AND RELATED RIGHTS

3.1    Patent Prosecution. SNB and DLP shall cooperate fully in the preparation,
       filing, prosecution and maintenance of intellectual property rights,
       including, without limitation to, title to the New Drug Certificate and
       patent, in New Drug Research Program. The Parties shall mutually agree
       that SNB, at its sole expense but with assistance by DLP, shall be
       responsible for preparing, filing, prosecuting and maintaining the
       clinical research approval, the New Drug Certificate (in both Parties'
       names), the Approved Pharmaceutical Number (in DLP's sole name) and PRC
       and foreign patent (in SNB's sole name) applications.
3.2    Titles to the New Drug Certificate. All rights, titles and interests in
       and to the New Drug Certificate of KGF-2 shall be jointly owned by both
       Parties.
3.3    Title to the patent. SNB shall have sole title to the PRC and foreign
       patent of KGF-2.
3.4    Title to the approved Pharmaceutical Number. DLP shall have sole titled
       to the Approved Pharmaceutical Number following issuance of the New Drug
       Certificate of KGF-2 granted by the SFDA. DLP shall have the exclusive
       right of manufacturing, marketing and distribution of KGF-2.
3.5    License grants. SNB grants to DLP a worldwide, loyalty-free, exclusive
       license to use the patent of KGF-2.
3.6    Restriction on sublicense. Neither Party shall, without prior written
       consent by the other, grant a sublicense to a third party.
3.7    All rights, titles and interests in and to the non-patented technology
       results shall be jointly owned by both Parties.

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                                                                   EXHIBIT 10.3
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3.8    DLP shall have the priority to be assigned or licensed to any further
       developed technology or products which will be researched by SNB based on
       research and development of KGF-2.

4. RESEARCH PROGRESS AND INFORMATION EXCHANGE

4.1    The clinical trial is expected to be approved before Dec.31, 2004 and the
       clinical trial is expected to be finished before Dec.31, 2005. Both
       Parties shall use reasonable best efforts jointly to obtain the New Drug
       Certificate of KGF-2. If either party desires to amend or extend the
       progress, the parties shall, upon reasonable notice of the proposed
       modification by the party desiring the change, confer in good faith to
       determine the amendment. Any such amendment shall not be effective unless
       agreed in writing by the signatories of this Agreement or their
       authorized representatives.
4.2    Representatives from SNB who are working on the Research Program shall
       meet quarterly or as needed with representatives of DLP to discuss the
       activities and the data, results and conclusions generated by the work
       performed hereunder.

5.    PAYMENT

5.1    In consideration of share of rights and titles of New Drug Certificate of
       KGF-2 and of exclusive license of patent of KGF-2, DLP shall pay SNB
       aggregate amount of 20 million RMB of research service fees in accordance
       with conditions set forth below:
5.1.1  within 10 business days upon signing this Agreement, Party A shall pay
       Party B 1 million RMB;
5.1.2  within 10 business days after obtaining KGF-2 clinical approval, Party A
       shall pay Party B 2 million RMB;
5.1.3  within 10 business days after finishing clinical trial phase II, Party A
       shall pay Party B 3 million RMB;
5.1.4  within 10 business days after finishing clinical trial phase III, Party A
       shall pay Party B 4 million RMB;
5.1.5  within 10 business days after obtaining the New Drug Certificate of
       KGF-2, Party A shall pay Party B 6 million RMB;
5.1.6  within 10 business days after obtaining KGF-2 production approval, Party
       A shall pay Party B 4 million RMB.
5.2    DLP shall pay SNB clinical research costs needed for clinical research
       based on actual progress of clinical research.
5.3    SNB shall issue invoice (or receipt) immediately after receiving each
       installment of payment.
5.4    The total research service fees under subparagraph 5.1.3, 5.1.4, 5.1.5
       and 5.1.6 above are 17 million. When Party A pays Party B, Party B can
       use 50% of those fees received for equity investment in a joint venture
       to be established by Party A and Party B. Both Parties will sign a
       separate joint venture agreement.

6.    CONFIDENTIALITY

6.1    In order to perform the obligations set forth in this Agreement, it may
       be necessary and/or desirable for DLP and SNB to exchange certain
       information deemed confidential or proprietary to one or the other and
       labeled or described as("Information"). Each party is willing to disclose
       its Information to the other under the following terms and conditions:
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                                                                   EXHIBIT 10.3
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6.1.1  Each party will take precautions, utilizing the same degree of care it
       would use with its own information of like importance, to prevent, and
       make is employees and agents obliged to prevent disclosure, directly or
       indirectly, of all or any of the Information received from the other
       party to any third party, except with the prior written consent of the
       other party, and each party will not use any Information received from
       the other party except as may be necessary for purposes of this
       Agreement. Information given to each party shall not be provided to any
       persons who have not undertaken an obligation of confidentiality
       substantially similar to that contained herein and then only when such
       disclosure is necessary for the purposes of this Agreement. All
       originals, copies and samples of tangible forms of Information provided
       to each party shall be returned upon request following the termination of
       this Agreement except that one copy may be retained for compliance
       purposes.
6.1.2  Each party's obligations, under subparagraph 6.1.1 hereof shall not apply
       to any Information: (i) known to it prior to disclosure of such
       Information which it can prove by its prior written records; or (ii)
       lawfully obtained after the date of this Agreement by it from sources,
       other than from the other party, having no obligation of confidentiality
       to the other party; or (iii) which is at the time of disclosure or which
       subsequent to disclosure becomes generally available to the public
       through no fault of the receiving party; or (iv) is independently
       developed without the use of the other party's information; or (v) is
       required to be disclosed pursuant to law, agency rule, government
       request, court order or subpoena, provided, however, that prior written
       notice shall be provided by the disclosing party to the Information
       owner, that reasonable efforts shall be expended by the disclosing party
       to obtain confidential treatment for the required disclosure, and that
       the disclosing party shall not object to reasonable efforts by the
       Information owner to obtain confidential treatment for the required
       disclosure.
6.2    Publicity. Neither party shall originate any publicity, news release, or
       other public announcement, written or oral, whether to the public press
       or otherwise, relating to this Agreement, to any amendment hereto, or to
       performance hereunder without the prior written consent of the other,
       except where required by law or regulatory requirements. Nothing in this
       section 6.2 shall prohibit either party from filing for patent protection
       or regulatory approval in connection with developing or marketing a
       product.

7. REPRESENTATIONS AND WARRANTIES

7.1    DLP Representations and Warranties. DLP hereby represents and warrants
       that DLP has the requisite rights, power and authority to enter into this
       Agreement and to perform according to its terms, and that DLP's official
       signing this Agreement has authority to do so. DLP further represents
       that it is financially able to satisfy any funding commitments made
       herein.
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                                                                   EXHIBIT 10.3
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7.2    SNB Representations and Warranties. SNB hereby represents and warrants
       that SNB has the requisite rights, power and authority to enter into this
       Agreement and to perform according to its terms, and that SNB has the
       facilities and expertise to conduct the Research Program. SNB represents
       that it is presently under no obligation to any third party which would
       prevent it from carrying out its duties and obligations under this
       Agreement or which is inconsistent with the provisions contained herein.
       SNB further warrants that it is aware of no third party intellectual
       property that would be infringed by carrying out the Research Program.

8. BREACH OF THE AGREEMENT AND REMEDY

8.1    Breach of the Agreement by Party A.
8.1.1  In the event that Party A fails to pay any installment of research
       service fee under subparagraph 5.1 above and fails to take reasonable
       steps to remedy such default within thirty (30) days after receipt of
       written notice thereof from the Party B, Party B shall have the option of
       terminating this Agreement and nominating a third party as successor of
       applicant for clinical research approval and/or the New Drug Certificate
       by giving written notice thereof. Upon such notice Party B shall pay back
       50% of received research service fees previously paid by Party A. Party A
       shall provide full assistance for changing the applicant for clinical
       approval and/or the New Drug Certificate.
8.1.2  In the event that Party A fails to pay clinical research costs under
       subparagraph 5.2 above and fails to take reasonable steps to remedy such
       default within thirty (30) days after receipt of written notice thereof
       from the Party B, Party B shall have the option of terminating this
       Agreement and nominating a third party as successor of applicant for
       clinical research approval by giving written notice thereof. Upon such
       notice Party B shall pay back 50% of received clinical research costs
       previously paid by Party A. Party A shall provide full assistance for
       changing the applicant for clinical research approval.
8.1.3  In the event that Party A is unable to meet the necessary requirements
       for production in accordance with applicable laws, regulations and rules,
       Party B shall have the option of terminating this Agreement and
       nominating a third party as successor of applicant for the New Drug
       Certificate by giving written notice thereof. Upon such notice Party B
       shall pay back none of received clinical research costs previously paid
       by Party A. Party A shall provide full assistance for changing the
       applicant for the New Drug Certificate.
8.2    Breach of the Agreement by Party B.
8.2.1  In he event that the clinical research approval is unable to obtain due
       to Party B's technology deficiencies, Party A shall have the right to
       terminate this Agreement by giving written notice thereof. Upon such
       notice Party B shall pay back all of received research service fees
       previously paid by Party A.
8.2.2  In the event that phase I,II or III of clinical research is unable to
       achieve satisfactorily due to Party B's technology deficiencies, Party A
       shall have the right to terminate this Agreement by giving written notice
       thereof. Upon such notice Party B shall pay back no more than 50% of
       received research service fees previously paid by Party A.
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                                                                   EXHIBIT 10.3
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8.2.3    In the event that Party B discloses material proprietary information,
         grant another license to a third party and Party A therefore will not
         be the sole manufacturer of KGF-2, Party A shall have the right to
         terminate this Agreement by giving written notice thereof. Upon such
         circumstance, both parties may negotiate the amount of damages. Party A
         may claim the damage of the amount not more than all research service
         fees and clinical research costs previously paid to Party B.

9. TERM AND TERMINATION WITHOUT CAUSE

9.1    Term. This Agreement shall be effective as of the last date of signature
       hereto, and shall remain in effect continuously, unless sooner terminated
       in accordance with the provisions of this Agreement.
9.2    Termination Without Cause. Both Parties may terminate this agreement at
       any time by mutual understanding, provided that Parties hold a good faith
       belief that further efforts under the Agreement are not commercially
       practicable due to any reason(s) to which both Parties are unable to
       predict and control. After the termination, Party A shall be granted a
       non-exclusive license to the patent, if any, of KGF-2.
9.3    Survival. The provisions of Articles 3, 6, 7, 8, 9, 10 and 11 shall
       survive any termination of this Agreement.

10. DISPUTE SETTLEMENT

       Both Parties shall resolve any dispute arising from or in connection
with this Agreement in an amicable manner. If the dispute cannot be resolved
through negotiation, either Party has the right to file a suit in the court of
the jurisdiction the Party is registered.

11.    GENERAL

11.1   Binding Effect; Assignment. This Agreement shall be binding upon and
       shall inure to the benefit of the Parties hereto and their respective
       transferees, successors and assigns, except that neither party shall have
       the right to assign this Agreement or its rights and obligations
       hereunder, without the prior written consent of the other party thereto.
11.2   Entire Agreement. This Agreement constitutes the entire and only
       agreement between the Parties relating to the Research Program, and all
       prior negotiations, representations, agreements and understandings are
       superseded hereby. No agreements amending, altering or supplementing the
       terms hereof may be made except by means of a written document signed by
       the duly authorized representatives of the parties.
11.3   Notices. Any notice or communication required or permitted to be given
       hereunder shall be in writing and, except as otherwise expressly provided
       in this Agreement, shall be deemed given and effective (i) when delivered
       personally, by telex or telecopier or (ii) when received if sent by
       overnight express or mailed by certified, registered or regular mail,
       postage prepaid, addressed to a party at its address set forth above (or
       to such other address as such party may designate by written notice),
       said notice being deemed given as of the date of mailing.
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                                                                   EXHIBIT 10.3
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If to SNB, to:

                Shanghai Newsummit Biopharma Co., Ltd,
                No. 398 Tian Lin Road, Cao He Jing Hi-tech Park,
                Shanghai 200233

                  ATTN:
                  person in charge
                  Phone No.:
                  Fax No.:

If to DLP, to:

                Dalian Longsheng Pharma Co., Ltd,
                24th Floor, Zhongyin Building, No. 15 Ren Min Road,
                Zhongshan District, Dalian

                  ATTN:
                  person in charge
                  Phone No.:
                  Fax No.:

11.4   Severability. If any provisions of this Agreement shall be found by a
       court of competent jurisdiction to be void, invalid or unenforceable, the
       same shall either be reformed to comply with applicable law or stricken
       if not so conformable, so as not to affect the validity or enforceability
       of the remainder of this Agreement.
11.5   Waivers. No delay or omission on the part of either party to enforce or
       exercise any right under this Agreement shall operate as a waiver of that
       right or any other right hereunder, or the ability to later assert that
       right relative to the particular situation involved or to terminate this
       Agreement arising out of any subsequent default or breach.
11.6   Counterparts. This Agreement may be executed in 4 of counterparts, each
       of which shall constitute an original document, but all of which shall
       constitute the same agreement.
11.7   Force Majeure. Neither Party shall be liable for any unforeseeable event
       beyond its reasonable control not caused by the fault or negligence of
       such Party, which causes such Party to be unable to perform its
       obligations under this Agreement and which it has been unable to overcome
       by the exercise of due diligence. In the event of the occurrence of such
       a force majeure event, the Party unable to perform shall promptly notify
       the other Party. It shall further use its best efforts to resume
       performance as quickly as possible and shall suspend performance only for
       such period of time as is necessary as a result of the force majeure
       event.

           IN WITNESS WHEREOF, the parties have caused this Agreement to be
executed by their duly authorized representatives as of the date and place first
written above.
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                                                                   EXHIBIT 10.3
                                                                   -------------



Dalian Longsheng Pharma Co., Ltd,          Shanghai Newsummit Biopharma Co., Ltd


By:                                        By:
----------------------------------         -------------------------------------


Title: General Manager                     Title: General Manager
      ----------------------------         -------------------------------------


Date:  2004-11-8                           Date: 2004-11-8




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                                                                   EXHIBIT 10.3
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                                                                          KGF-2