SHIJIAZHUANG, China, February 28, 2011 /PRNewswire/ -- Infinity Group, an RMB fund pioneer and the leader in cross border China RMB and dollar private equity funds, announced today that it is investing 120 million RMB ($US18 million) in Shijiazhuang Xingbai Pharmaceutical Company Limited. Four of Infinity's funds - the SJZ fund, the I-China fund, the Changzhou fund and the Tianjin fund - participated in this investment. The financing is earmarked to enhance Shijiazhuang Xingbai's bio-tech capabilities with the goal of better competing on domestic and international markets. Shijiazhuang Xingbai is planning an IPO in the A-share market in three years.

Shijiazhuang Xingbai Pharmaceutical Company Limited, established in 2004 in the county of Zhao in SJZ, Hebei province, is China's leading manufacturer of biological pesticides. Its main products include the original drug Abamectin, Avermectin and avermectin derivatives. Shijiazhuang Xingbai is an NDRC (National Development and Reform Commission) approved avermectin manufacturer.

Dr. Bella Ohana, managing director of life science at Infinity said, "Infinity highly appreciates the promising future of Shijiazhuang Xingbai's core business. It is a leader in the bio-pesticides market, which is growing at a CAGR of 20% annually. Shijiazhuang Xingbai's avermectin products have low toxicity, high efficiency and rapid degradation. This is in pace with the development of pesticides being developed both in China and worldwide."

Mr. Amir Gal-Or, managing partner and founder of Infinity stated, "Shijiazhuang Xingbai's leading position in the pesticide industry is embodied by four aspects: a strong-willed management team with vision and foresight, an established leading position in the global avermectin market, excellent and cost effective research capabilities and a long-established and well-recognized brand in the global market. As the leading PE fund in Israel, Infinity will leverage its connections with the various modern bio-agricultural entities in Israel and use its IP Bank platform to upgrade Shijiazhuang Xingbai's technology and promote its brand worldwide."