China's Hua Medicine appoints former Merrill banker as new CFO ahead of listing
George Lin will be responsible for corporate finance as well as helping commercialise and license drugs at the diabetes-focused biopharmaceutical firm
Hua Medicine, the Chinese drugs developer, has appointed veteran Bank of America Merrill Lynch banker George Lin as its chief financial officer (CFO), as it seeks to go public in the next 12 to 18 months.
Lin was most recently the Wall Street bank’s head of Asia-Pacific consumer, retail and health care investment banking.
He will be responsible for corporate finance as well as for helping commercialise and license drugs at the diabetes-focused biopharmaceutical firm.
Shanghai-based Hua’s IPO plans come as investors are beginning to bet big on the potential of Chinese biopharma groups.
The share prices of firms such as Chi-Med, Beigene and Zai Lab have all soared on international markets this year, fuelled by hopes their drugs and recent reforms to Beijing’s regulatory system should speed up drug approvals.
Lin, who has spent the bulk of his career in investment banking, is one of several senior bankers to leave the industry for opportunities in China’s “new economy” companies, which range from biopharma firms to online retailers.
There is no reason to hire someone like me (now) unless they want to go public in the next 12 to 18 months