Innovent Announces the Appointment of Dr. Samuel Zhang as Global Chief Business Officer (CBO)

Rhea-AI Summary

Innovent Biologics, Inc. appoints Dr. Samuel Zhang as Global Chief Business Officer, bringing over 20 years of industry experience. Dr. Zhang will lead global strategy and business development, reporting to Dr. Michael Yu. His expertise includes identifying industry trends, R&D decision-making, and strategic transactions.

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• Dr. Samuel Zhang's appointment as Global Chief Business Officer enhances Innovent's global strategy and business development capabilities.

• Dr. Zhang's extensive experience in the field of business development and leadership will contribute to accelerating Innovent's globalization efforts.

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• None.

SAN FRANCISCO and SUZHOU, China, April 30, 2024 /PRNewswire/ -- Innovent Biologics, Inc. ("Innovent") (HKEX: 01801), a world-class biopharmaceutical company that develops, manufactures and commercializes high quality medicines for the treatment of cancer, cardiovascular and metabolic, autoimmune, ophthalmology and other major diseases, today announces the appointment of Dr. Samuel Zhang as its Global Chief Business Officer (CBO). In this role, Dr. Zhang will be responsible for Innovent's global strategy and business development, and his reporting line is Dr. Michael Yu, founder, Chairman and CEO of Innovent.

Dr. Zhang brings over 20 years of industry experience across the entire drug research, development and commercialization spectrum. He has a strong track record of success in identifying emerging industry trends and promising assets at an early stage, enabling major R&D decisions at large biopharmaceutical and small biotech companies, designing science-based fast to market development strategies to address large unmet medical needs, realizing commercial value in competitive markets, and facilitating large strategic transactions.

Prior to joining Innovent, Dr. Zhang served as CBO at Gracell Biotechnologies and NeoImmuneTech. Most recently, Dr. Zhang led Gracell's global partnership discussions, which resulted in a $1.2B acquisition by AstraZeneca. He has also held positions of increasing responsibility at Eli Lilly, Pfizer, Bristol-Myers Squibb, Novartis, and Merus.

Dr. Zhang has a Ph.D. in Molecular Biology from Columbia University, an M.B.A. from the Wharton School of the University of Pennsylvania, and a B.S. in Biology from Peking University.

"We warmly welcome Dr. Zhang to join Innovent as CBO. Dr. Zhang has extensive experience and excellent leadership in the field of business development. We truly believe that his joining will help Innovent significantly enhance global strategy and business development capabilities, and further accelerate the pace of our globalization." said Dr. Michael Yu, founder, Chairman and CEO of Innovent. 

"Innovent has achieved tremendous success since its founding over 12 years ago and remains highly focused on its corporate development strategy and global partnership," said Dr. Samuel Zhang, "I am delighted to join Innovent at this particular time to help build on this strong foundation, to pioneer new science, and, in partnership with multinational companies, to develop breakthrough medicines benefiting patients in dire need worldwide."

About Innovent

Innovent is a leading biopharmaceutical company founded in 2011 with the mission to provide high-quality biologics that are affordable to all. The company discovers, develops, manufactures and commercializes innovative medicines that target some of the most intractable diseases. Its pioneering therapies treat cancer, cardiovascular and metabolic, autoimmune and eye diseases. Innovent has launched 10 products in the market. It has 3 new drug applications under regulatory review, 5 assets in Phase III or pivotal clinical trials and 18 more molecules in early clinical stage. Innovent partners with over 30 global healthcare companies, including Eli Lilly, Sanofi, Incyte, Adimab, LG Chem and MD Anderson Cancer Center.

Guided by the motto, "Start with Integrity, Succeed through Action," Innovent maintains the highest standard of industry practices and works collaboratively to advance the biopharmaceutical industry so that first-rate pharmaceutical drugs can become widely accessible. For more information, visit www.innoventbio.com, or follow Innovent on Facebook and LinkedIn.

Note:

TYVYT® (sintilimab injection) is not an approved product in the United States.

BYVASDA® (bevacizumab biosimilar injection), SULINNO®, and HALPRYZA® (rituximab biosimilar injection) are not approved products in the United States.

TYVYT® (sintilimab injection, Innovent)

BYVASDA® (bevacizumab biosimilar injection, Innovent)

HALPRYZA® (rituximab biosimilar injection, Innovent)

SULINNO® (adalimumab biosimilar injection, Innovent)

Pemazyre® (pemigatinib oral inhibitor, Incyte Corporation). Pemazyre® was discovered by Incyte Corporation and licensed to Innovent for development and commercialization in Mainland China, Hong Kong, Macau and Taiwan.

CYRAMZA® (ramucirumab, Eli Lilly). Cyramza® was discovered by Eli Lilly and licensed to Innovent for commercialization in Mainland China.

Retsevmo® (selpercatinib, Eli Lilly). Retsevmo® was discovered by Eli Lilly and licensed to Innovent for commercialization in Mainland China.

Statement: Innovent does not recommend the use of any unapproved drug (s)/indication (s).

Forward-Looking Statements

This news release may contain certain forward-looking statements that are, by their nature, subject to significant risks and uncertainties. The words "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to Innovent, are intended to identify certain of such forward-looking statements. Innovent does not intend to update these forward-looking statements regularly.

These forward-looking statements are based on the existing beliefs, assumptions, expectations, estimates, projections and understandings of the management of Innovent with respect to future events at the time these statements are made. These statements are not a guarantee of future developments and are subject to risks, uncertainties and other factors, some of which are beyond Innovent's control and are difficult to predict. Consequently, actual results may differ materially from information contained in the forward-looking statements as a result of future changes or developments in our business, Innovent's competitive environment and political, economic, legal and social conditions.

Innovent, the Directors and the employees of Innovent assume (a) no obligation to correct or update the forward-looking statements contained in this site; and (b) no liability in the event that any of the forward-looking statements does not materialize or turn out to be incorrect.

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SOURCE Innovent Biologics

FAQ

Who is appointed as Global Chief Business Officer at Innovent Biologics, Inc.?

Dr. Samuel Zhang is appointed as the Global Chief Business Officer at Innovent Biologics, Inc.

What are Dr. Samuel Zhang's responsibilities at Innovent Biologics, Inc.?

Dr. Zhang will lead Innovent's global strategy and business development.

What is Dr. Zhang's background and experience?

Dr. Samuel Zhang has over 20 years of industry experience in drug research, development, and commercialization, with a Ph.D. in Molecular Biology and an M.B.A.

Who is Dr. Michael Yu and what is his role at Innovent?

Dr. Michael Yu is the founder, Chairman and CEO of Innovent Biologics, Inc., and Dr. Zhang will report to him.

What is Innovent Biologics, Inc.'s focus areas?

Innovent focuses on developing, manufacturing, and commercializing medicines for cancer, cardiovascular, metabolic, autoimmune, ophthalmology, and other major diseases.