Exhibit 99.1
HUTCHMED Announces Appointment of Independent Non-executive Director and Member of Board Committee
Hong Kong, Shanghai & Florham Park, NJ — Wednesday, November 20, 2024: HUTCHMED (China) Limited (“HUTCHMED” or the “Company”) (Nasdaq/AIM:HCM, HKEX:13) today announces that Dr Chaohong Hu (Dr Mary Hu) is appointed as an Independent Non-executive Director and a member of the Technical Committee of the Company with effect from November 21, 2024.
Dr Hu has over 20 years of experience in the development of therapeutic antibodies, antibody-drug conjugates, and vaccines. Throughout her career, she has demonstrated strong leadership and innovative capabilities, leading various research and development initiatives. Dr Hu's expertise spans from early-stage discovery to clinical development and commercialization. She also has a proven track record of successful business development and strategic partnerships, including out-licensing and collaboration.
Dr Dan Eldar, Chairman of HUTCHMED, said “On behalf of the Board, I would like to extend a warm welcome to Dr Hu to the Company. We believe that her expertise in the biopharmaceutical industry will bring fresh perspective and provide constructive insight to the Board.”
Dr Hu, aged 58, is currently Chief Operating Officer of D Biotherapeutics, LLC and an owner and principal consultant of Lakebio Consulting, LLC. She was previously executive director and co-chief executive officer of Lepu Biopharma Co., Ltd. (HKEX: 2157) from 2020 to January 2024. She was also chief executive officer and Chairman of the Board of Shanghai Miracogen Inc., a company founded by Dr Hu, focusing on the research and development, clinical study and industrialization of new drugs for targeted cancer therapy – antibody drug conjugates, from 2014 to January 2024. She disposed of all her interests in Shanghai Miracogen Inc. in 2020. Prior to founding Shanghai Miracogen Inc., Dr Hu served as a director of the Bioassay Development and Process Analytics department at Seagen Inc. (previously listed on the Nasdaq); director of Molecular Biology and Clinical Immunology department of GlaxoSmithKline plc (currently GSK plc) (LSE/NYSE: GSK); and research scientist and director of Molecular Biology and Clinical Immunology department of ID Biomedical Corporation (previously listed on the Nasdaq). She was also a postdoctoral fellow of the University of Washington.
Dr Hu holds a Bachelor of Science degree in biochemistry from Wuhan University and a PhD in molecular biology from Institute of Biophysics, Chinese Academy of Sciences.
Dr Hu has broad relevant board experience, currently holding or having held in the past five years the following directorships and partnerships:
Current Directorships and Partnerships: | Previous Directorships and Partnerships in the last five years: |
D Biotherapeutics, LLC Lakebio Consulting, LLC KYM Biosciences Inc. (Delaware incorporated) Miracogen Limited Miracogen Inc. Miracogen Incorporated | Lepu Biopharma Co., Ltd (HKEX: 2157) Innocube Limited, a subsidiary of Lepu Biopharma Co., Ltd. Innocube Biosciences Inc, a subsidiary of Lepu Biopharma Co. Ltd. Shanghai Miracogen Inc. KYM Biosciences Inc. (Washington incorporated) |
Save for the appointments listed above, Dr Hu has held no other directorships or partnerships during the period of five years prior to her appointment as a director of HUTCHMED. She does not have any relationship with any Directors, senior management or substantial or controlling shareholders of HUTCHMED. Dr Hu has confirmed (a) her independence as regards each of the factors for independence referred to in Rule 3.13(1) to (8) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (“HK Listing Rules”); (b) that she had no past or present financial or other interest in the business of the Company or its subsidiaries or any connection with any core connected person (as defined in the HK Listing Rules) of the Company; and (c) that there are no other factors that may affect her independence at the time of her appointment.
