SHANGHAI, China, Dec. 21, 2017 (GLOBE NEWSWIRE) -- Hua Medicine, a leading clinical stage biotechnology company based in Shanghai, announced George Lin, a seasoned investment banker in the U.S. and Asia, joins Hua Medicine as EVP and Chief Financial Officer.
Mr. George Lin, a healthcare veteran brings with him over 20 years of investment banking and legal experience working with numerous private and public companies globally. Prior to joining Hua, he was Asia Pacific Head of Consumer, Retail and Healthcare Investment Banking and head of investment banking coverage for both Hong Kong and Taiwan for Bank of America Merrill Lynch based in Hong Kong. As an investment banker and corporate lawyer focused on healthcare, retail and the consumer sectors, Mr. Lin was most recently based in Hong Kong. His experience entails IPOs, debt and equity financings and M&As for leading companies in Asia, the United States and Europe. Mr. Lin received a Bachelor of Sciences degree in Biological Sciences from the University of California at Davis and a Juris Doctor degree from The University of Chicago Law School.
As Hua's EVP and CFO, Mr. Lin's responsibilities will include corporate finance, business development and licensing / partnering efforts, as Hua moves forward with its novel Phase III GKA diabetes treatment drug.
Hua Medicine successfully completed its proof-of-concept study Phase II clinical trial for Dorzagliatin (HMS5552), a novel First-in-Class Glucokinase Positive Allosteric Modulator (PAM) for the treatment of diabetes in 258 patients in 22 leading hospital centers across China in 2016 [News release Hua Medicine October 2016]. In China, the company has initiated the NDA enabling process and has started two Phase III clinical trials targeting on drug naive and metformin treated T2D patients in China led by Professor Dalong Zhu, President-elect of China Diabetes Society (CDS), and Professor Wenying Yang, Former President of CDS, with 80 clinical sites located throughout China participating.
"We are very pleased to have George lead our finance and business development efforts at Hua Medicine as we advance our innovative diabetes medicine for patients in China and worldwide,” said Dr. Li Chen, CEO of Hua Medicine. "Today, diabetes is a global pandemic affecting, according to the WHO, over 422 M people worldwide and 120 M in China alone. The prevalence of T2D is 14.7% in the China Han population, 10% in the China Muslim population, and 9.4% in the U.S. as a whole. The progressive nature of the disease is attributable, in part, to the limited effectiveness of existing medications and untreated dysfunction of glucose sensor protein GK. Hua Medicine’s GK PAM demonstrated its potential to modulate the damaged function of GK in T2D patients and to regain the control of glucose homeostasis, a novel concept to stop the progression of T2D."
About Hua Medicine
Hua is a leading, clinical stage innovative drug development company in China focused on novel therapies for the treatment of diabetes. Founded by an experienced group of entrepreneurs and international investment firms, Hua advanced a first-in-class oral drug for the treatment of Type 2 Diabetes into NDA enabling stage and started 2 Phase III trials in China. The Company also has initiated product life-cycle management studies of this novel diabetes drug, and advanced the knowledge in personalized diabetes care. Hua's strategy is to leverage the cost-efficient and high-quality drug development capabilities available in China, while working very closely with disease experts and regulatory agencies in China and rest of the World to advance diabetes care solutions for global patients. For more information: www.huamedicine.com
Hua Medicine Contact information: Li Chen, Ph D CEO Hua Medicine China Office: +21 5886 5299
Source: Hua Medicine