HUTCHMED Confirms No Assets Held at Silicon Valley Bank
HUTCHMED (HCM) announced on March 13, 2023, that it has no exposure to Silicon Valley Bank (SVB) or SVB UK Limited, confirming it holds no cash deposits or securities with these institutions. This statement assures investors regarding the company’s financial stability amid recent banking sector turmoil. HUTCHMED, a biopharmaceutical firm focused on cancer and immunological treatments, employs approximately 5,000 personnel, with a substantial portion dedicated to oncology and immunology. The company's drugs are now commercially available in China, further solidifying its market presence.
- No exposure to Silicon Valley Bank or SVB UK Limited, ensuring financial stability.
- None.
HONG KONG and SHANGHAI, China and FLORHAM PARK, N.J., March 13, 2023 (GLOBE NEWSWIRE) -- HUTCHMED (China) Limited (“HUTCHMED” or the “Company”) (Nasdaq/AIM:HCM, HKEX:13) today confirms that it does not have any exposure to Silicon Valley Bank (“SVB”) or Silicon Valley Bank UK Limited (“SVBUK”). The Company does not hold any cash deposits or securities with SVB or SVBUK.
About HUTCHMED
HUTCHMED (Nasdaq/AIM:HCM; HKEX:13) is an innovative, commercial-stage, biopharmaceutical company. It is committed to the discovery and global development and commercialization of targeted therapies and immunotherapies for the treatment of cancer and immunological diseases. It has approximately 5,000 personnel across all its companies, at the center of which is a team of about 1,800 in oncology/immunology. Since inception it has focused on bringing cancer drug candidates from in-house discovery to patients around the world, with its first three oncology drugs now approved and marketed in China. For more information, please visit: www.hutch-med.com or follow us on LinkedIn.
CONTACTS
| Investor Enquiries | |
| Mark Lee, Senior Vice President | +852 2121 8200 |
| Annie Cheng, Vice President | +1 (973) 306-4490 |
| Media Enquiries | |
| Americas – Brad Miles, Solebury Trout | +1 (917) 570 7340 (Mobile) / bmiles@soleburystrat.com |
| Europe – Ben Atwell / Alex Shaw, FTI Consulting | +44 20 3727 1030 / +44 7771 913 902 (Mobile) / +44 7779 545 055 (Mobile) / HUTCHMED@fticonsulting.com |
| Asia – Zhou Yi, Brunswick | +852 9783 6894 (Mobile) / HUTCHMED@brunswickgroup.com |
| Nominated Advisor | |
| Atholl Tweedie / Freddy Crossley, Panmure Gordon | +44 (20) 7886 2500 |
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