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(OTCBB:SOBM) Sinobiomed, Inc.
Wednesday August 13, 11:00 am ET
Seasoned Executive Joins Company to Position It for Future Growth
SHANGHAI, CHINA-Aug 13, 2008 - Sinobiomed Inc. is pleased to announce that it has hired Mr. Lionel Choong as Chief Financial Officer, who will commence his employment with Sinobiomed on September 1, 2008. The current CFO of Sinobiomed, Mr. Asher Zwebner, has agreed to resign effective August 31, 2008.
As CFO, Mr. Choong will oversee the Company's various financial functions, including finance and accounting, financial planning and analysis, regulatory and risk management, and facilities and strategic growth. He will also be involved with other corporate activities and serve as a strategic partner with the CEO as the Company develops its unique strategies and tactics for long-term impact.
Mr. Choong, 46, most recently led the corporate finance department of Kennic L.H. Lui & Co, a Certified Public Accounting firm in Hong Kong. A former partner with Deloitte Touche Tohmatsu in Hong Kong and former CFO of Byford International Ltd., a company listed on the Hong Kong Stock Exchange, he has more than 20 years of experience in corporate finance, business development, IPO and M&A, and financial management and reporting in a variety of industries in Hong Kong, China and overseas. A Chartered Accountant with an Institute of Chartered Accountants in England and Wales Advanced Diploma in Corporate Finance, Mr. Choong has an MBA from J. L. Kellogg School of Management at Northwestern University.
"I am looking forward to helping Sinobiomed achieve its full potential as a public company," said Mr. Choong. "The Company team is first rate and there is tremendous scope for growth both in Asia and around the world. It is my intention to work with the team to effectively implement strategy and further strengthen the Company's finance team, transparency and corporate governance."
Banyun Yang, Sinobiomed CEO, commented: "With the current new funding from Accelera Ventures, and anticipated intermediate-term funding to prepare for the next phase of growth, it is imperative to have a solid finance team. Lionel's deep experience will create the cornerstone for that."
Sinobiomed extends its sincere thanks to Mr. Zwebner for his services to the Company as Chief Financial Officer and wishes him every success as he pursues other interests.
Profile for Sinobiomed, Inc.
Sinobiomed, Inc., through its subsidiaries, engages in the research, development, testing, and evaluation of genetic engineered recombinant protein drugs and vaccines. Its products respond to a range of diseases, including malaria and hepatitis. The company’s products include Wanferon/Wanferin, a recombinant human interferon for treating hepatitis B hepatitis C, viral infections, and other conditions; Leflunomide, a drug for the treatment of rheumatoid arthritis; and Recombinant Acidic Fibroblast Growth Factor, a patented bio-product that treats diabetic ulcers and burns, and supports recovery from plastic surgery. Its products in clinical trials include Recombinant Malaria Vaccine; Recombin...
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