Admedus Ltd (ASX:AHZ) has appointed Lishan Zhang and Dr Yanheng Wu as non-executive directors, representing its major investor Star Bright Holding Ltd.
READ: Admedus reports $6.3 million revenues amid $12.7 million Star Bright backing
Zhang is a highly successful businesswoman and entrepreneur with a significant network in China that is expected to greatly benefit Admedus.
She is the chair of Constellation International Group Holdings Ltd., a Hong Kong-based company with multiple interests in the development of new biotechnology assets including vaccines, nanotechnology, biomedical materials and minimally invasive tumour treatments.
Dr Wu is the president and managing director of Constellation International and has a PhD in tumour immunotherapy and nanocarrier technology from The University of Queensland.
In 2016, he established Guangzhou Hearty-Care Biotechnology Ltd., a medical technology company that is now owned by Constellation International.
READ: Admedus returns to exchange and launches a $20.2 million capital raising
Admedus chief executive officer Wayne Paterson said: “I am very excited to welcome both Ms Zhang and Dr Wu to our board of directors.
“As a major investor, Star Bright’s interest is aligned with our shareholders, and they are committed to furthering the commercial and development success of Admedus.
“China is a very important market within our global growth strategy. Both Ms Zhang and Dr Wu bring commercial and scientific experience and networks, which will be of great value.”
New joint venture in China
Constellation International is strengthening its capabilities in the research and development of medical technology and commercialising innovative products.
The company plans to build a world-class life science industry complex in Shenzhen.
It intends to form a joint venture with Admedus to help commercial operations in China and fund clinical development programs.