Innovent Appoints Mr. Gary Zieziula as Independent Non-executive Director

Rhea-AI Summary

Innovent Biologics has appointed Mr. Gary Zieziula as an independent non-executive director and member of the audit and strategy committees. Zieziula brings over 40 years of global experience in pharmaceuticals, previously leading Kyowa Kirin USA and EMD Serono. His expertise in drug commercialization is expected to complement Innovent's strategy during a crucial growth phase, as the company aims to enhance its global footprint. Innovent, established in 2011, has developed a robust pipeline with 32 assets, including 7 marketed products in China.

Positive

• Mr. Zieziula's extensive experience in drug commercialization could strengthen Innovent's strategic planning and global outreach.
• The appointment adds diversity to the Board during a critical growth phase for Innovent.

Negative

• Concerns regarding continuity and experience gaps may arise with new board members during this transition period.

SAN FRANCISCO and SUZHOU, China, May 31, 2022 /PRNewswire/ -- Innovent Biologics, Inc. ("Innovent") (HKEX: 01801), a world-class biopharmaceutical company that develops, manufactures and commercializes high quality medicines for the treatment of oncology, autoimmune, metabolic, ophthalmology and other major diseases, today announced the appointment of Mr. Gary Zieziula as an independent non-executive director of the board of directors ("the Board") and a member of the audit committee of the Board and the strategy committee of the Board.   

Mr. Zieziula has over 40 years of experience building and guiding strong, sustainable sales and operations organizations across Europe and North America in several MNCs. He is currently the President of Kyowa Kirin USA Holdings, Inc. ("Kyowa Kirin USA"), theNorth America Region Headquarters of Kyowa Kirin Co., Ltd ("Kyowa Kirin") (TSE: 4151). Kyowa Kirin is a Japan-based global specialty pharmaceutical company that applies cutting-edge science, including its expertise in antibody research and engineering, to address the needs of patients across multiple therapeutic areas such as nephrology, oncology, immunology/allergy and neurology. Mr. Zieziula joined Kyowa Kirin USA in 2019. Under his leadership, North America has become the fastest growing region of Kyowa Kirin's global business. Before joining Kyowa Kirin USA, Mr. Zieziula successively served as the chief commercial officer and President of EMD Serono, the North American subsidiary of Merck KGaA pharmaceutical company, where he promoted the successful commercialization of the company's oncology, nerve / immunity, fertility and endocrine products in North America, reversed the downward trend of many products in the North American market and strengthened the growth momentum of market share. Previously, Mr. Zieziula served as a strategic adviser to venture capital firms and pharma companies on M&A and product licensing opportunities in the global pharmaceutical and biotechnology market. Mr. Zieziula had also held important positions at AMAG, Roche, Bristol Myers Squibb and Merck & Co. Currently. Mr. Zieziula received his bachelor's degree from the State University of New York and an MBA degree from Canisius College. 

Dr. Michael Yu, Founder, Chairman and CEO of Innovent, stated:"We warmly welcome Mr. Zieziula to join the board of directors of Innovent. Mr. Zieziula has rich experience in leading the successful global commercialization of drugs in many large pharmaceutical companies and biotechnology companies, and has deep insight into the global layout, evaluation and promotion of pipelines. Mr. Zieziula joins the Board in a critical period of Innovent's development, which not only makes the Board more diversified, but also brings us complementary experience with globalization. We believe that his participation will Innovent devise strategic plans for globalization that support the company in achieving our mission – to grow into a global premier biopharmaceutical company, and make Innovent's innovative drugs benefit more global patients."

Mr. Zieziula, stated: "I am honored to join the Board of Innovent and look forward to working with such an innovative, professional and efficient team. Innovent is a young and promising company.. Over the past decade, Innovent has successfully built a fully-integrated platform of R&D, CMC and commercialization, , and established global innovative research and clinical development capabilities, which lay a solid foundation for innovation and globalization in the next decade. I am honored to contribute to the implementation of Innovent's strategic objective and mission."

About Innovent

Inspired by the spirit of "Start with Integrity, Succeed through Action," Innovent's mission is to develop, manufacture and commercialize high-quality biopharmaceutical products that are affordable to ordinary people. Established in 2011, Innovent is committed to developing, manufacturing and commercializing high-quality innovative medicines for the treatment of cancer, autoimmune, metabolic, ophthalmology and other major diseases. On October 31, 2018, Innovent was listed on the Main Board of the Stock Exchange of Hong Kong Limited with the stock code: 01801.HK.

Since its inception, Innovent has developed a fully integrated multi-functional platform which includes R&D, CMC (Chemistry, Manufacturing, and Controls), clinical development and commercialization capabilities. Leveraging the platform, the company has built a robust pipeline of 32 valuable assets in the fields of cancer, autoimmune, metabolic, ophthalmology and other major therapeutic areas, with 7 products approved for marketing in China – TYVYT® (sintilimab injection), BYVASDA® (bevacizumab biosimilar injection), SULINNO® (adalimumab biosimilar injection), HALPRYZA® (rituximab biosimilar injection) , Pemazyre® (pemigatinib oral inhibitor) and olverembatinib (BCR-ABL TKI) and Cyramza® (ramucirumab), 1 asset under NMPA NDA review, 5 assets in Phase 3 or pivotal clinical trials, and an additional 19 molecules in clinical studies.

Innovent has built an international team with advanced talent in high-end biological drug development and commercialization, including many global experts. The company has also entered into strategic collaborations with Eli Lilly and Company, Adimab, Incyte, MD Anderson Cancer Center, Hanmi and other international partners. Innovent strives to work with many collaborators to help advance China's biopharmaceutical industry, improve drug availability and enhance the quality of the patients' lives. For more information, please visit: www.innoventbio.com. and www.linkedin.com/company/innovent-biologics/.

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.

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 Biologics, Inc. ("Innovent" or "Company") , are intended to identify certain of such forward-looking statements. The Company 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 the Company 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 the Company'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, the Company's competitive environment and political, economic, legal and social conditions.

The Company, the Directors and the employees of the Company 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 materialise or turn out to be incorrect.

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SOURCE Innovent Biologics

FAQ

What is the significance of Gary Zieziula's appointment to Innovent's board on May 31, 2022?

Gary Zieziula's appointment is significant as he brings extensive experience in global drug commercialization, which is crucial for Innovent's growth strategy.

How does Gary Zieziula's background impact Innovent's strategy?

Zieziula's background in leading pharmaceutical companies may enhance Innovent's approach to expanding its global presence and achieving its commercialization goals.

What are Innovent's current product offerings as of 2022?

As of 2022, Innovent has developed 32 assets, with 7 approved for marketing in China, including TYVYT® and BYVASDA®.