Ye (Sally) Wang Appointed Chairwoman of the
Board
Ying Huang Named CEO
Legend Biotech Corporation (NASDAQ: LEGN) (“Legend Biotech”), a
global clinical-stage biopharmaceutical company engaged in the
discovery and development of novel cell therapies for oncology and
other indications, today announced that Ms. Ye (Sally) Wang was
appointed, effective November 6, 2020, as Chairwoman of the Board
of Directors of Legend Biotech.
The Board of Directors also named Dr. Ying Huang as Chief
Executive Officer of Legend Biotech, effective November 6, 2020.
Dr. Huang had been serving as interim CEO since September 21, 2020.
Dr. Huang will continue to hold his position of Chief Financial
Officer until such time as a successor CFO is identified.
Both appointments were made with the unanimous approval of the
Board of Directors, including by means of a written proxy of Dr.
Fangliang Zhang. In a written statement, Dr. Zhang, who remains a
member of the Board of Directors, expressed his support for Dr.
Huang’s assumption of the Chief Executive Officer role on a
non-interim basis, and noted that the transition further enhances
the operational execution of Legend Biotech.
“The entire Board is very pleased to have Ms. Wang as Legend
Biotech’s Chairwoman,” said Mr. Philip Yau, Chair of the Audit
Committee. “Sally’s extensive experience and expertise in strategic
planning and operational management will be instrumental as she
leads our Board and supports Legend Biotech’s management team in
continuing to develop therapies for patients in need.”
“Since taking on the role of interim CEO in September, Dr. Huang
has seamlessly led Legend Biotech during a challenging time,” said
Ms. Wang. “Dr. Huang’s strong business acumen and biotechnology
expertise make him uniquely suited to advance Legend Biotech’s
mission, and the Board of Directors has great confidence that he
will continue to advance the important work that Legend Biotech is
undertaking.”
Ms. Wang has served as a member of Legend Biotech’s Board of
Directors since May 2015. Ms. Wang has been the Chief Operating
Officer of GenScript Biotech Corporation (“GenScript”), Legend
Biotech’s parent majority shareholder, since 2014, has served on
GenScript’s board of directors since 2009 and has served as
GenScript’s President since December 2017, responsible for
GenScript’s strategies and overall operational management. She
co-founded the GenScript group in 2002 and has served in various
managerial positions in GenScript Corporation. Ms. Wang holds an
M.S. degree from Wuhan University, a Master’s degree in Computer
Sciences from the University of Bridgeport and an Executive M.B.A.
degree from the China Europe International Business School.
Since joining Legend Biotech in July 2019, Dr. Huang played a
central role during the company’s crossover round financing and
IPO, which was among the largest biotech IPOs of 2020. In addition
to his responsibility for Legend Biotech’s financial function, he
is a core member of the Legend team that manages the company’s
collaborative efforts. Dr. Huang brings more than nine years of
experience in research and development at major pharma and 12 years
of experience as a biotechnology analyst on Wall Street, where he
was recognized by the Institutional Investor survey as a top-ranked
biotechnology analyst. Prior to joining Legend Biotech, Dr. Huang
was Managing Director and Head of Biotech Equity Research at Bank
of America Merrill Lynch and, prior to that, held posts at
Wachovia, Credit Suisse, Gleacher and Barclays. Prior to his Wall
Street career, Dr. Huang was a Principal Scientist at
Schering-Plough (now Merck & Co.) in the Department of Chemical
Research, where he focused on small molecule drug discovery in the
therapeutic areas of cardiovascular and the central nervous system.
He is a co-author of several patents and peer reviewed
publications. Dr. Huang received his Ph.D. in Bio-Organic Chemistry
from Columbia University. Dr. Huang also studied at Columbia
Business School and in the Special Class for the Gifted Young at
University of Science and Technology of China.
In addition to the leadership announcements regarding the
chairwoman and CEO, Legend Biotech also announced updates to its
comprehensive development pipeline.
Our pipeline is available at our website, at
https://www.legendbiotech.com/pipeline.
About Legend Biotech
Legend Biotech is a global clinical-stage biopharmaceutical
company engaged in the discovery and development of novel cell
therapies for oncology and other indications. Our team of over 800
employees across the United States, China and Europe, along with
our differentiated technology, global development, and
manufacturing strategies and expertise, provide us with the strong
potential to discover, develop, and manufacture cutting edge cell
therapies for patients in need.
We are engaged in a strategic collaboration with Janssen
Biotech, Inc. to develop and commercialize our lead product
candidate, ciltacabtagene autoleucel, an investigational
BCMA-targeted CAR-T cell therapy for patients living with multiple
myeloma. This candidate is currently being studied in
registrational clinical trials.
Cautionary Note Regarding Forward-Looking Statements
Statements in this press release about future expectations,
plans and prospects, as well as any other statements regarding
matters that are not historical facts, may constitute
“forward-looking statements” within the meaning of The Private
Securities Litigation Reform Act of 1995. These statements include,
but are not limited to, statements relating to the development and
advancement of Legend Biotech’s program pipeline and the potential
contribution of Ms. Wang as Chairwoman and Dr. Huang as Chief
Executive Officer. The words “anticipate,” “believe,” “continue,”
“could,” “estimate,” “expect,” “intend,” “may,” “plan,”
“potential,” “predict,” “project,” “should,” “target,” “will,”
“would” and similar expressions are intended to identify
forward-looking statements, although not all forward-looking
statements contain these identifying words. Actual results may
differ materially from those indicated by such forward-looking
statements as a result of various important factors, including the
factors discussed in the “Risk Factors” section of the prospectus
filed with the Securities and Exchange Commission on June 8, 2020.
Any forward-looking statements contained in this press release
speak only as of the date hereof, and Legend Biotech specifically
disclaims any obligation to update any forward-looking statement,
whether as a result of new information, future events or otherwise.
Readers should not rely upon the information on this page as
current or accurate after its publication date.
We use our website our corporate Twitter account
(@LegendBiotech) and our corporate LinkedIn account
(https://www.linkedin.com/company/legendbiotechco.) as routine
channels of distribution of company information, including press
releases, analyst presentations, and supplemental financial
information, as a means of disclosing material non-public
information and for complying with our disclosure obligations.
Accordingly, investors should monitor our website and our corporate
Twitter and LinkedIn accounts in addition to following press
releases, filings with the SEC and public conference calls and
webcasts. Additionally, we provide notifications of announcements
as part of our website.
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version on businesswire.com: https://www.businesswire.com/news/home/20201109005338/en/
For Investor Relations inquiries, please contact: Jessie
Yeung, Head of Corporate Finance and Investor Relations, Legend
Biotech USA Inc. jessie.yeung@legendbiotech.com or
investor@legendbiotech.com or media@legendbiotech.com Surabhi
Verma, Manager of Investor Relations and Corporate Communications,
Legend Biotech USA Inc. Surabhi.Verma@legendbiotech.com For
Medical Affairs inquiries, please contact: Tonia Nesheiwat,
Executive Director, Medical Affairs, Legend Biotech USA Inc.
tonia.nesheiwat@legendbiotech.com or
medicalinformation@legendbiotech.com
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