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Lycium barbarum is widely used as a functional food and medicinal herb to promote health and longevity in China and in some other Asian countries. In modern pharmacological and chemical studies, the most valuable and well-researched component of L. barbarum is a group of unique water-soluble glycoconjugates that are collectively termed Lycium barbarum polysaccharides (LBPs). Numerous modern pharmacological studies have revealed that LBPs possess antiaging, antidiabetic, antifibrotic, neuroprotective, and immunomodulation properties, whi