Ascletis Names Allan Baxter, PhD, Former GlaxoSmithKline Global Head of Medicines Development, as Chief Strategy Officer

RESEARCH TRIANGLE PARK, N.C. & HANGZHOU, China--(BUSINESS WIRE)-- Ascletis, Inc., a U.S.-China pharmaceutical company developing important medicines for cancer and infectious diseases, today announced the appointment of Allan Baxter, Ph.D. as Chief Strategy Officer. Dr. Baxter, who has been an advisor to Ascletis since its founding, joins Ascletis following a 30 year career at GlaxoSmithKline (GSK), where he ultimately served as Senior Vice President and Global Head of Medicines Development with accountability for GSK’s late-stage drug development pipeline.

“Allan Baxter has been a highly valued advisor in the establishment of Ascletis and its two-pronged business strategy of developing late-stage drug candidates for the China market, while conducting earlier stage research and development aimed at global partnering,” said Jinzi J. Wu, Ph.D., Ascletis President and Chief Executive Officer. “As someone who was directly responsible for the discovery and development of more than 20 clinical stage and marketed drugs, he is an ideal person to lead Ascletis’ discovery and development strategy. I am very pleased that he has chosen to join our team in this new role.”

“Ascletis represents an exciting opportunity to develop medicines both for the specific needs of the rapidly growing China pharmaceutical markets and for global market opportunities,” said Dr. Baxter. “I look forward to working with the Ascletis team to build the company’s discovery and development pipeline in the areas of cancer and infectious diseases.”

During his long career at GSK, Dr. Baxter had worldwide responsibility for GSK’s late-stage portfolio of investigational medicines from Phase 2 through regulatory approval and lifecycle management. He also created and led six Centres of Excellence for Drug Discovery within GSK. Dr. Baxter received his Ph.D. in biochemistry and honorary D. Sc. from Glasgow University. He is Chairman of Stevenage Bioscience Catalyst, an independent U.K.-based life sciences facility for early stage biotechnology companies, and Chair of the Wellcome Trust’s Seeding Drug Discovery Funding Committee. Dr. Baxter is also a non-executive director of Human Genome Sciences and Vernalis plc.

About Ascletis, Inc.

Ascletis is a joint venture between U.S. and Chinese entrepreneurs aimed at building a global specialty therapeutics business dedicated to discovering and developing important new treatments for cancer and infectious diseases. Ascletis leverages U.S./European innovation and pharmaceutical/biotech strategic experience and China’s capital efficiency with a goal of establishing in the near term a sustainable business and accelerated revenues through the in-licensing, late-stage clinical development, and commercialization of new medicines for the growing Chinese pharmaceutical marketplace. At the same time, the company is building long-term value through the discovery, demonstration of clinical proof-of-concept, and global partnering of novel therapeutics for life-threatening diseases. For more information, please visit http://www.ascletis.com.



CONTACT:

Ascletis, Inc
Jinzi J. Wu, Ph.D., +1-919-328-0212 (US)
President and CEO
[email protected]
China: +86 133 3614 7339
or
For Media:
Kureczka/Martin Associates
Joan Kureczka, +1-415-821-2413
[email protected]
Mob: +1-415-690-0210

KEYWORDS:   United States  Asia Pacific  North America  China  North Carolina

INDUSTRY KEYWORDS:   Health  Biotechnology  Infectious Diseases  Oncology  Pharmaceutical  Research  Science

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