EQS-News / 19/08/2020 / 07:00 UTC+8
Proposed Change of Company Name to Better Reflect Business Expansion
Entering the Space of Bioscience with Renowned Science and Finance Expert on
Board
(18 August 2020, Hong Kong) Hao Tian Development Group Limited (the
"Company" or "Hao Tian Development", together with its subsidiaries, the
"Group", SEHK stock code: 00474) proposes that the English name of the
Company to be changed from "Hao Tian Development Group Limited" to "Aceso
Life Science Group Limited" and the Chinese name of the Company from
"??????????" to "????????????" (hereinafter referred to as the "Change of
Company Name").
Update on the Bioscience Business
Promethera Biosciences S.A/N.V. ("Promethera Biosciences") completed its
first round of fund raising and has establishd a joint venture with
Aceso-Promethera Asia Company Limited (the "JV Company").
The JV Company has obtained the exclusive right to engage in the
development, commercialisation, sell and distribution of cell-based and
biological therapies for the treatment of liver diseases including
Acute-on-Chronic Liver Failure (ACLF), Non-alcoholic Steatohepatitis (NASH)
and Urea Cycle Disorder (UCD), autoimmune diseases and various types of
cancer based on the applications and development of the IP of Promethera
Biosciences in Asia (including the PRC).
The JV Company will commence joint study with Itochu Corporation on the
therapeutic use of certain IP and proceed with collaboration distribution,
licensing and sales of the certain products in Asia.
The Group intend to expand into the business of bioscience and is in the
process to recruit a team of life science executives with significant
bioscience asset development experience in China and South East Asia to cope
with the new initiatives.
New Board Members
Dr. Wang Yu (????) ("Dr. Wang") and Dr. Li Yao (????) ("Dr. Li") have
been appointed as non-executive Directors of the Company on 18 August 2020.
Dr. Wang, a highly recognized scholar who has extensive connection and
possesses decades of experience in the healthcare space in the PRC and
previously the director of Institute of Hepatology, Peking University Health
Science Center ("PUHSC") (??????????????), vice president of PUHSC, deputy
director of China National Center for Biotechnology Development (CNCBD)
(?????????????) and deputy director of the Department of Social Development,
Ministry of Science and Technology of the PRC (???????????????). Dr. Wang
served as director general of the Chinese Centre for Disease Control and
Prevention (???????????? ) from June 2004 to August 2017.
Dr. Wang is currently managing director of Chinese Medical Association
(?????????), and committee member of the Global Commission for the
Certification of Poliomyelitis Eradication (Western Pacific Region)
(?????????????????????? ????). Dr. Wang earned his doctorate degree in
medicine from PUHSC and Ph.D. from Jichi Medical School of Japan. Dr. Wang
will also act as the chairman of the Scientific Advisory Committee of Aceso
Life Science Holding, our subsidiary principally engaged in the bioscience
business.
Dr. Li has over 25 years of experience in financial industry. He has been
working for International Finance Corporate ("IFC") of World Bank Group
since 1999 and he is currently the Regional Chief Investment Officer for
East Asia and Pacific of IFC. Dr. Li also serves as an independent director
of 21Vianet Group, Inc, a company listed on NASDAQ, since May 2018. During
2011 to 2015, he was the Chief Executive Officer of China-ASEAN Investment
Cooperation Fund and the Chairman of the Investment Committee of its
investment manager. From 2015 to 2016, he also acted as the Vice General
Manager of China Ping An Trust Co Ltd. (??????????) overseeing the private
equity business. Dr. Li holds a PhD in Economics from Renmin University of
China.
Mr. Eric Fok, Executive Director of Hao Tian Development said, "Further to
the establishment of Aceso Life Science Holding Limited with Co-High
Investment Management Limited in June 2020, the Group formed a joint venture
with Promethera Biosciences with IP rights to its products in Asia.
Concurrently, we are honoured to have Dr. Wang Yu and Dr. Li Yao, both
renowned and reputable in bioscience and finance, on Board. The change of
Company's name to Aceso Life Science Group Limited shall better reflect its
intention to expand its business into the bioscience industry. The Group is
committed to becoming a leading global life science platform.
- End -
About Hao Tian Development
At present, Hao Tian Development Group Limited is a Hong Kong-based
investment holding company and the Group is principally engaged in (i) money
lending; (ii) securities investment; (iii) provision of commodities and
securities brokerage service; (iv) asset management; (v) property leasing;
and (vi) rental and trading of construction machinery The Company intends to
expand its business into bioscience industry and has been endeavouring in
identifying and locating acquisition targets.
About Aceso Life Science Holding
Aceso Life Science Holding is held as to 51% and 49% by the Group and
Co-High, respectively. It is the Group's vehicle for the business of
development, manufacture, sale and distribution of therapeutic and
diagnostic assets in the Greater China and South East Asia.
About Co-High
Co-High is a private equity firm primarily focused on investing in the next
generation of life science companies with clear scientific edges which
target to solve global major unmet medical needs. Co-High possesses
extensive resources and connections to the global life science ecosystem.
Co-High is owned by Atlantis Capital Group Holdings Limited ("Atlantis
Capital") and Mr. Dong Zimeng as to 60% and 40% respectively. Atlantis
Capital is wholly-owned by Ms. Liu Yang.
About Promethera Biosciences
Promethera Biosciences S.A/N.V., Belgium, was founded in 2009 by Professor
Etienne Sokal, a member of the Belgian Royal Academy of Medicine and
Professor at UCLouvain, together with the UCLouvain TTO Sopartec SA.
Promethera Biosciences is a global innovator in liver therapeutics whose
mission is to deliver to patients' life-saving treatments in order to reduce
the need for liver transplantation. Promethera Biosciences' lead product,
HepaStem, is a next-generation cell therapy designed to leverage
immuno-modulatory and anti-fibrotic properties to treat patients. In
addition to its cell-based therapy product pipeline (HepaStem and H2Stem),
Promethera is also developing the antibody asset Atrosimab to complement and
diversify its liver focused pipeline.
HepaStem is a human allogenic liver-derived progenitor/mesenchymal type cell
that is obtained from healthy, ethically donated human livers, isolated,
expanded and pharmaceutically produced in qualified cGMP Promethera
Biosciences' manufacturing factories. HepaStem is being or has been applied
to Acute-on-Chronic Liver Failure (ACLF), Non-Alcoholic Steatohepatitis
(NASH) and Urea Cycle Disorder (UCD).
HepaStem's phase 2a clinical trial for ACLF had been completed and the data
was recognised as a late-breaking data presentation at the 2019 European
Association for the Study of Liver (EASL). HepaStem is currently part of a
potentially pivotal phase 2b clinical study in Europe in ACLF patients. In
addition, Promethera Biosciences is preparing to file an Investigational New
Drug Application (IND) for HepaStem, for the treatment of
COVID-19-associated Acute Respiratory Distress Syndrome in Europe.
Promethera Biosciences' other assets include; (1) H2Stem, a next-generation
regenerative medicine derived from hepatobiliary type progenitor cells, (2)
Novotarg, a pre-clinical stage CD95/CD20 bispecific antibody for the
treatment of solid tumors and (3) Atrosimab, a preclinical stage TNF
Receptor 1 antagonistic monovalent antibody which will be deployed for the
treatment of liver indications and other inflammatory autoimmune diseases.
For further information, please Email: contact@haotianhk.com
File: Proposed Change of Company Name to Better Reflect Business Expansion
Entering the Space of Bioscience with Renowned Science and Finance Expert on
Board
19/08/2020 Dissemination of a Financial Press Release, transmitted by EQS
Group.
The issuer is solely responsible for the content of this announcement.
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(END) Dow Jones Newswires
August 18, 2020 19:00 ET (23:00 GMT)
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