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Immvira Announces the Appointment of Carl Yeung as Chief Financial Officer

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Mr. Yeung will be responsible for the Company’s financial operations, investments, financing, and M&A matters. He will also support the Company’s work in market expansion and strategic business collaboration with partners globally.

Mr. Yeung received his bachelor’s degree in economics with concentrations in finance and operations management from the Wharton School, University of Pennsylvania, and his bachelor’s degree in applied science with a concentration in systems engineering from the School of Engineering and Applied Sciences, University of Pennsylvania.  He has more than 18 years of experience in the capital markets and financial management. In the first three years of his career, working as an investment banker in Merrill Lynch, he successfully assisted many companies in publicly listing overseas. Since then, in his 15-year career working as a chief financial officer, he has led four Chinese technology companies to successfully list on the NASDAQ, NYSE, and the Hong Kong Stock Exchange. The total financing amount he completed for the four listed companies in the primary and secondary markets exceeded US$2.5 billion.

Mr. Yeung has extensive experience establishing financial infrastructure to support early start-up companies during periods of rapid growth, as well implementing strategic financial management and compliance risk management systems after public listing.

Dr. Grace Zhou, Chairman and Chief Executive Officer of Immvira, commented, “As the Company enters new stages of growth, it is paramount to build a team of top-quality professionals from experienced backgrounds so that we can leverage expertise to continue to meet new goals. Attracting, training and empowering talent is the foundation of our commitment to developing world-class cancer therapeutic products. Our senior management team continually searches for new partners who can share our dream with a common mindset of compassion, strength and determination. We found that partnershipwith Carl with his global financial perspective, capital markets know-how and rich financial management experience. We look forward to working with him and his contributions to the Company’s rapid growth and long-term strategic development.”

Mr. Yeung said, “I am excited to join the Immvira team. Treating cancer with new generation of oncolytic viruses that can be integrated into tumor immunotherapy is a new area of interest for me personally. Using engineered viruses to express therapeutic genes as a treatment approach is built upon years of prudent, peer reviewed research and is a hopeful, radically new, advanced pathway in the fight against cancer. Dr. Zhou and her team have led the field of oncolytic virus research worldwide and successfully entered clinical trialsstage in several countries.

“It is an honor to partner with Dr. Zhou and her team. Driven by scientific research, this is a special team that operates with modesty and a resoluteness of purpose to deliver an effective treatment approach for patients. I look forward to supporting these leading scientists by providing the right capital and financial management underpinning. As a team, we expect to achieve clinical trials success and get effective therapies as soon possible tothe global market so that hope can be kindled for millions of cancer patients,” concluded Mr. Yeung.

About Immvira

Immvira is a biotechnology company focused on the development of oncolytic viruses as potential cancer therapeutics, which not only improves the replicating ability of the virus, but also further improves the oncolytic activity of the virus and promotes the immune response. Immvira’s independently developed oncolytic virus product T3 has been launched in clinical studies in Australia, China and the United States to explore the treatment of multiple solid tumors. At the same time, Immvira is also developing a number of oncolytic virus products which will form a series of powerful pipelines to meet the needs of different tumor therapies, including the development of targeting specific therapeutic oncolytic virus.

For more information please visit: www.immvira-theravir.com/

Immvira Group Company was founded on May 18, 2015 by six scientists in the field of tumor oncolytic immunity from the United States. The company develops innovative drugs for immunotherapy and targeted treatment of herpes oncolytic virus (oHSV), including five product lines, covering various types of tumors. They are:

  1. Intratumoral injection of oHSVT3011, mono and combination therapies;
  2. Systemic administration of oHSV for extensive metastatic tumors;
  3. oHSV for malignant brain tumors;
  4. oHSV  for oncolytic virus resistant tumors; and,
  5. Targeted oHSV for hematological malignancies.

Immvira has also successfully developed lyophilization technology of oncolytic virus products, which meets the challenges of low temperature storage and transportation of products at -80℃.

SOURCE Immvira Group Company

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B.C. forecasting $12.5B deficit due to COVID-19 pandemic

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The British Columbia government is forecasting a $12.5 billion deficit due to the COVID-19 pandemic, five months after the provincial budget featured a marginal surplus.

Speaking at a news conference on Tuesday, Finance Minister Carole James called the projected scenarios “staggering, but not without hope.”

“This could be the worst downturn experienced in our province in recent history,” she said.

The provincial budget for 2020, tabled just months before the COVID-19 pandemic forced widespread shutdowns, included a $227 million surplus for 2020-21.

Now, James said B.C.’s GDP is forecast to decrease by 5.4 per cent for 2020, while Canada’s is forecast to decrease by 6.6 per cent.

So far, $1.5 billion has been earmarked by the province for economic recovery measures. James said that so far, the government has provided $6.26 billion in financial aid to businesses and individuals.

The B.C. economy could grow back 3.1 per cent in 2021, according to the economic projections. But James said that current projections are based on a snapshot in time, with a huge number of unknowns, including the possibility of future outbreaks in B.C. or elsewhere, evolutions in public health responses, supports from government and central banks, and the development of a vaccine.

Sales, job numbers plummeted

The province has lost 235,000 since February. Unemployment numbers in June were up to 13 per cent, the highest numbers recorded since 1987.

James said while many jobs have bounced back as the province has continued with its gradual reopening, not all jobs will be recovered before the end of the year. Youth employment remains at 29 per cent, and data shows that men are re-entering the workforce at a far faster rate than women.

Data presented on Tuesday showed that retail sales fell by 24 per cent between February and April, with the biggest sales losses in clothing, sports, hobbies, books, music, furniture, gasoline, and motor vehicles and parts. Home sales plummeted by 45 per cent between February and May, with home prices dropping four per cent.

Possible risks like a second wave of infections or shifts in other jurisdictions that would affect B.C. exports mean the timeline for economic recovery is uncertain.

The B.C. government has already tabled legislation giving itself room for three years of deficits and James says that will be re-examined each year.

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Face masks will help UK’s ‘physical and financial’ recovery, says Health Secretary

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Working conditions could be leaving people exposed to coronavirus, Greater Manchester mayor Andy Burnham told a press conference today as he called for more clarity from the Government.

Giving a joint address with Steve Rotheram, metro mayor of the Liverpool City Region, Mr Burnham said that the Government should provide more information to local authorities on those who have tested positive for coronavirus.

Mr Burnham said that the Government was “at risk of not observing their own law” by not providing daily data, which identified patients, to councils, while calling for clarity on at what point the Government will intervene to implement local lockdowns.

The metro-mayor said a high number of cases in Rochdale may be linked to a warehousing operation which had been the “focus of some extra work with regards to testing”.

In the House of Commons today, Health Secretary Matt Hancock said that patient identifiable data is available to local authorities, and “we plan to publish more and more of this data as open data”, but noted that “there has to be a data protection agreement”.



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FKTK analyses: Latvian residents’ financial literacy grew last year | Baltic News Network

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safety pillow, financial literacy, FKTK, households, savingsSavings of households in Latvia continued growing in 2019. The same can be said of the volume of deposits, even though the number of residents who make deposits has declined slightly, according to results of Finance and Capital Market Commission’s Financial Literacy Strategy of 2019.

FKTK management together with cooperation partners execute Finance Literacy Strategy annually since 2014. Its goal is promoting financial planning and the tradition of making savings, integrity of financial services environment and society’s long-term financial planning and development.

FKTK chairman Santa Purgaile explains that in the past several years there has been a significant improvement for households’ financial welfare. Deposits have been increasing in a stable manner for several years. As income increases, the proportion of households that constantly plan their budget has reduced. At the same time, the proportion of households that regularly divert part of their income for savings has increased.

A significant increase has also been observed to households’ general savings, which was mainly dictated by deposits to the 2nd level pension system and good operational results in 2019.

The number of persons involved in 3rd level pension system has increased by nearly 21 000, and the size of contributions in 2019 has increased by nearly seven million, as noted by FKTK. The number of households’ problematic loans repayment of which is delayed 90 days has reduced, as have the numbers and amounts. Society’s financial longevity and development has also improved, which is demonstrated by information regarding household loans and deposits, as well as the general domestic clients’ deposit balance in commercial banks, which had increased by one billion euros in 2019.

Conclusions were also made for the beginning of 2020, this is why the influence of COVID-19 crisis on financial literacy and its indexes are not included in the analysis, says FKTK.

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