Updated on 1 August 2012
Kinex secures strategic investment from Hong Kong doctor
Singapore: Kinex Pharmaceuticals received a substantial investment from a prominent Asian investor, Dr Manson Fok. Dr Fok is the founder of the Pedder Clinic, which is one-of-the-largest private medical practices in Hong Kong. He is also the dean of the faculty of health sciences at the University of Macau (MUST) and the president of the Macau Healthcare Management and Promotion Association (MHMPA).
Dr Fok, while speaking about his investment, said that, "Greater China is well prepared to evolve as a global player in the field of biotechnology and pharmaceuticals. I look forward to assisting Kinex Pharmaceuticals in their Asian business strategy."
Dr Johnson Yiu-Nam Lau, chairman and CEO, Kinex Pharmaceuticals, said that, "Dr Fok is a very successful doctor, entrepreneur, and a philanthropist. We are delighted that he has agreed to serve the company as an advisor. His scientific knowledge, business experience and his extensive network will be instrumental as Kinex advances its Asian strategy."
"Securing the confidence of a strategic investor such as Dr Manson Fok cannot be overstated," said Mr Flint Besecker, chairman; finance, audit and risk management committee, board of directors, Kinex.
Kinex Pharmaceuticals recently executed a license agreement with Xiangxue Pharmaceuticals, China, granting the latter exclusive rights to Kinex's KX02 for all oncology indications in several regions in East Asia, including Hong Kong among others.