Sinobiomed Announces New Chief Executive Officer

Sinobiomed Announces New Chief Executive Officer
New, Experienced Management Intends to Move Swiftly on Funding, Acquisitions and Corporate Initiatives
 

HONG KONG, Sep 2, 2010 (GlobeNewswire via COMTEX) -- The Board of Directors of Sinobiomed Inc. ("Sinobiomed", or "the Company") (Pink Sheets:SOBM) is pleased to announce the appointment of a new Chief Executive Officer.

George Yu, incoming President and Chief Executive Officer, has over 15 years of management and corporate development experience. Mr. Yu had worked in operational management roles in technology start-ups in the late 1990s and later acted as management consultant to Fortune 500 companies at Bain. His corporate finance experience includes working at small-cap hedge and venture capital funds in emerging markets and investment banking at Lehman Brothers. Mr. Yu graduated from Columbia Business School magna cum laude in Finance and Economics.

Mr. Yu plans to implement immediately the following strategic initiatives:

  --  Identify strategic acquisition and investment opportunities in
      high-growth industries
  --  Build a results-oriented management team
  --  Execute strategic transactions intended to accelerate the growth of the
      company and create significant shareholder value
  --  Obtain necessary funding to execute strategic transactions
  --  Focus on operational excellence to deliver results

Suggested Articles

Data from a 10,000-patient trial showed that people with osteoarthritis taking Novartis' Ilaris had 40% to 47% lower rates of joint replacements.

Immunic's lead asset beat placebo at reducing damage to myelin, which protects nerve fibers, in patients with relapsing multiple sclerosis.

The appointment sees Kobayashi switch from developing Dermira’s anti-IL-13 drug to advancing Aslan’s would-be rival.