Aoxing Pharmaceutical Company, Inc. Announces Appointment of CFO and Independent Director
ACCESS Newswire
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JERSEY CITY, NJ / ACCESSWIRE / December 29, 2014 / Aoxing Pharmaceutical Company, Inc. (NYSE MKT:AXN) ("Aoxing Pharma" or "the Company's"), a specialty pharmaceutical company specializing in research, development, manufacturing and distribution of a range of narcotics and pain-management products, today announced the appointment of Mr. Wilfred Chow as Chief Financial Officer and Dr. Hui (David) Shao as independent director of the Company. Mr Guoan Zhang who has been serving in the role of Acting CFO, will continue to serve as the Company's SVP for Finance. Our director, Mr. Zhimin Li, resigned from his position on the Board, effective December 31, 2014.
Mr. Wilfred Chow is joining Aoxing Pharma from Okeanos Capital Investment, a consulting firm focused on media and pharmaceutical. As managing director at Okeanos, Mr. Chow led corporate finance teams responsible for capital raises and M&A transactions. He led and completed two acquisitions and raised multiple rounds of capital from private equity funds for his clients. From 2010 to 2012, Mr. Chow was CFO of Tiger Media, Inc. (NYSE MKT: IDI), where he executed improvements in the company's financial visibility and transparency to build long term shareholder value. Prior to IDI, Mr. Chow spent over 15 years working as SVP and CFO for venture-backed private and NYSE listed companies. Earlier in his career, Mr. Chow held a variety of position at PriceWaterhouseCoopers and Deloitte in both New York and Hong Kong. Mr. Chow earned a BS in Economics from Hong Kong University and a MBA from Leicester University.
Dr. David Shao served as Vice President of Finance and CFO of Aoxing Pharma from 2007 to 2010, and is joining our board in 2015. Dr. Shao is currently CFO of Yisheng Biopharma, a private equity backed pharmaceutical company focused on vaccines with operations in China. Prior to his employment by Aoxing Pharma, Dr. Shao was a Senior Analyst at Mehta Partners and Kamunting Street Capital Management in New York, where he was responsible for a healthcare investment portfolio of over $100 million across North American and European companies. Dr. Shao was a Principal Scientist, leading metabolic disease and oncology projects at Roche Pharmaceuticals, before he started his career on Wall Street. Dr. Shao was an independent director of Tongli Pharma from 2008 to 2011. Dr. Shao received his Ph.D degree in bioorganic chemistry at University of California, San Diego, and MBA degree in finance and accounting at Stern Business School of New York University.
Zhenjiang Yue, Aoxing Pharma's Chairman and CEO, stated, "We are excited about these new additions to our Company, and believe we now have a stronger and more highly seasoned team in place to help accelerate our Company's growth and increase our shareholders value. Wilfred brings considerable experience navigating the financial markets, especially in a multi-cultural setting. We believe he can help transform AXN into a more financially solid company and improve our communication with investors. In addition, the Company will greatly benefit from Hui Shao's extensive experience in both the capital and pharmaceutical markets."
About Aoxing Pharmaceutical Company, Inc.: Aoxing Pharmaceutical Company, Inc. is a US incorporated specialty pharmaceutical company with its operations in China, specializing in research, development, manufacturing and distribution of a variety of narcotics and pain-management products.
Safe Harbor Statement from Aoxing Pharmaceutical Company, Inc.: Certain statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements. All forward-looking statements included herein are based upon information available to the Company as of the date hereof and, except as is expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason. To the extent that any statements made here are not historical, these statements are essentially forward-looking. The Company uses words and phrases such as "guidance", "forecasted", "projects", "is expected", "remain confident", "will", and/or similar expressions to identify forward-looking statements in this press release. Undue reliance should not be placed on forward-looking information. The economic, competitive, governmental, technological and other risk factors identified in the Company's filings with the Securities and Exchange Commission, specifically, Item 1A, "Risk Factors", in the Form 10-K for the year ended June 30, 2014, may cause actual results or events to differ materially from those described in the forward-looking statements in this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.
