2019.08.01 Press Release
Continuous Augmentation of Governance Structure
The Board of Great Bay Bio Welcomes a New Member
[August 01, 2019 - Hong Kong] Great Bay Bio, a leading biotechnology company dedicated to innovative biologics CMC (Chemistry Manufacturing and Controls) and development of biologics development big data platform, the board is pleased to announce the introduction of a new non-executive director, Mr. William Kung. This is now a critical time for Great Bay Bio for rapid development of its core competitive competencies. The addition of industrial elites from different professional backgrounds will help accelerate certain milestones, building long-term value for the company.
Mr. Kung graduated from York University in Canada with master degree in economics, and is currently an AICPA (American Institute of Certified Public Accountant). Mr. Kung has worked for seven years in Principal Global Investors LLC in Hong Kong and USA. He has helped manage more than $9 billion in global assets for customers including global sovereign funds such as GIC in Singapore. During his tenure at SouthWest Securities International Securities Ltd., he was responsible for quantitative trading of financial products in Hong Kong and PRC. And in the last three years, he has continuously outperformed the Chinese state-owned enterprise index. Since June 2019, Mr. Kung has been responsible for establishment of investment funds as the Executive Director in the asset management department of HeungKong Financial Group, and has led the Post Acquisition Management in consumer and technology industries.
On Mr. Kung directorship, Mr. Kingsley Leung said, "Mr. Kung's arrival is well-timed, his strong finance background and network with PRC and international investors will certainly help our planned fund raising event later this year. Since our establishment, Great Bay Bio has adhered to the vision that targets the world, not just China. We want to effectively integrate global capital markets, biopharmaceutical industry, and new technologies to help solve growing problems in drug development, such as low R&D productivity. Any incremental improvement in drug development can significantly reduce cost to our partners and, ultimately benefiting patients by allowing new drugs to be offered at a lower price point. Mr. Kung's addition to the board can give us new perspective of achieving our mission and vision from the point of view of stronger governance. Effective governance structure is paramount in attracting new investors and strategic partners, which are the key drivers of value generation in the near term. This is exactly what Great Bay Bio needs most now. I would like to deliver a warm welcome to Mr. Kung for joining the team, and I look forward to working closely with him."
Brief Introduction to Other Members of the Board
Mr. Kingsley Leung, Chairman of the Board and Co-Founder of Great Bay Bio, graduated from Imperial College London and the University of Oxford with life sciences degrees. Recently, he also attained an EMBA from Tsinghua-INSEAD joint program. Prior to the founding of the Great Bay Bio, Mr. Leung is the Chairman of Uni-Bio Science Group, a listed Biopharmaceutical company（HK0690）in HKEx main board and has years of broad experience in fund raising, management and governance for biopharmaceutical enterprises. He has also worked in a biopharmaceutical start-up in Singapore as a BD manager, successfully licensing in the next generation oncology, inflammation and respiratory drugs from MNCs. Mr. Leung also has experience in the finance industry where he worked in a budge bracket investment bank and family office, and is currently a Chartered Financial Analyst.
Dr. Michael Chan，CEO and Co-Founder of Great Bay Bio, graduated from the Doctor of Biochemistry, University of Georgia, USA. He has more than 30 years of rich experience in biomedical research and development and projects' management. He has successively held senior management positions from different famous pharmaceutical companies based in the USA and China. In particular, he has ever been a distinguished leader for 5 projects of Biosimilar and innovative macromolecule's IND Application during the same period within 3 three years. Dr. Chan has published more than 18 articles and patents in international SCI journals.
About Great Bay Bio
Headquartered in Hong Kong, the CMC/CDMO platform of Great Bay Bio was established in 2002, where originally more than 3100 million yuan was invested into R&D equipment. The CMC/CDMO platform has independent and integrated technology platform for drug R&D and large-scale preparation. The company has a strong existing track record of developing customized CMC packages for products entering NDA stage, some of which are national class I projects of innovative biological New drugs.
Great Bay Bio is leveraging its advantages of an established platform for development of a new vertical in CMC. Specifically, Great Bay Bio strives to utilize AI and other cutting-edge technologies to shorten CMC development timelines, lower certain cost, and increase efficiency of CMC. With such a platform, it could expand and acquire new customer base, and brings fundamental changes to drug development, and ultimately benefiting society and patient.
The platform has been recognized and certificated as "Patent Fostering Enterprise", "Patent Pilot Enterprise", "National High-tech Enterprise", "Dongguan New R&D Institution", "Guangdong Top Ten Foreign-funded R&D Center" and "Guangdong Genetically Pharmaceutical Engineering Research Center". Since 2006, it has undertaken a number of government projects and obtained crucial breakthroughs in key areas of Guangdong and Hong Kong. Several provincial and national projects, such as "National Major New Drug Innovation", have been funded by government support of more than 20 million yuan.
The CMC platform encompasses an area of over 3100 square meter, and has a whole set of advanced biopharmaceutical research and development hardware and facilities, with key equipment from well-class brands such as Sartorius, Bio-Rad, GE Healthcare, and Waters. The pilot workshop is designed strictly in accordance with GMP requirements. The overall clean room standards of C-level and partial A-level.
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