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在线翻译:
szdaily -> Markets
Hua Medicine appoints new CFO ahead of listing
    2017-December-26  08:53    Shenzhen Daily

SHANGHAI-BASED drug developer Hua Medicine has appointed George Lin, a veteran Bank of America Merrill Lynch banker, as its chief financial officer (CFO), as it seeks to go public in the next 12 to 18 months.

Lin, who was most recently the head of Asia-Pacific consumer, retail and health care investment banking at the Wall Street bank, will be responsible for corporate finance as well as for helping commercialize and license drugs at the diabetes-focused biopharmaceutical firm.

The initial public offering (IPO) plans of Hua Medicine come as investors are beginning to bet big on the potential of Chinese biopharma groups.

The share prices of firms such as Chi-Med, Beigene and Zai Lab have soared on international markets this year, fuelled by hopes for their drugs and recent reforms to China’s regulatory system that should speed up approvals of drugs.

Lin, who has spent the bulk of his career in investment banking, is one of several senior bankers to leave the industry for opportunities in China’s “new economy” firms, which range from biopharma firms to online retailers.

Hua Medicine plans to list either in the United States or Hong Kong, Lin said.

“There is no reason to hire someone like me [now] unless they want to go public in the next 12 to 18 months,” he said.

Hua Medicine was set up in 2011 by Chinese-born, Western-educated Li Chen, who previously ran Swiss group Roche’s Chinese research and development arm. Its development pipeline includes a novel diabetes treatment, which Lin expects to be approved in China by 2019.

(SD-Agencies)

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