Novotech Health Holdings, the largest biotech specialist contract research organization (CRO) in Asia, announced the appointment of Zidong Zhang as Chief Financial Officer (CFO) effective 4 January 2021.
In his new role, Zidong Zhang will be responsible for all aspects of financial management and work closely with Novotech Holdings’ executive team to support the growth of the business across Asia.
Dr. Zhang was most recently CFO at Henlius Biotech, a Hong Kong-listed global biopharmaceutical company based in Shanghai, where he built and managed the finance team and played an integral role in the company’s initial public offering in 2019. Prior to that, Dr. Zhang was an equity research analyst at UBS in New York, where he covered the Major and Specialty Pharmaceutical Sector. He also previously served as Senior Consultant for Bayer A.G. in its healthcare practice and conducted postdoctoral research in diabetes-related drug development at Boston University’s School of Medicine.
Dr. Zhang holds a PhD in Biochemistry from Boston University, an MBA from Duke University, and a BS in Chemistry from Fudan University.
Commenting on the appointment, Joel Thickins, Chairman of Novotech Holdings and TPG Capital Asia’s Head of Australia and New Zealand, said, “With a diverse background in financial management, capital markets transactions, healthcare research and consulting, Zidong Zhang has a unique combination of skills and experience that are well suited to our growth ambitions. Zidong will further bolster Novotech’s leadership team and help to facilitate our expansion throughout Asia.”
John Moller, CEO of Novotech Holdings said, “Zidong’s extensive experience in biotech and healthcare, coupled with his financial expertise from his roles at UBS and Henlius Biotech will be invaluable as we enter the next phase of growth for our business. We look forward to welcoming Zidong to the team.”
Zidong Zhang said, “The biotech sector in Asia is still in its infancy and there will be significant growth in demand for quality clinical trial services as the sector develops. Joining Novotech Holdings is an exciting opportunity to work with a highly committed and professional team to deliver a strong growth strategy as we help our clients to develop the next generation of innovative drugs.”
Novotech Holdings employs approximately 1,550 people in 21 offices across 12 geographies including Greater China, South Korea, South East Asia, India and ANZ. Novotech Holdings is majority owned by TPG Capital Asia funds.
TPG is a leading global alternative asset firm founded in 1992 with approximately $85 billion of assets under management and offices in Austin, Beijing, Fort Worth, Hong Kong, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul, Singapore, and Washington, DC.
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