Dr. Steve Yang has been appointed executive vice president and chief operating officer at WuXi PharmaTech, Inc. Also, Edward Hu will serve as chief investment officer, in addition to his responsibilities as chief financial officer.
Dr. Yang joins the company from AstraZeneca, where he served as vice president and head of Asia and Emerging Markets iMed based in Shanghai. He and his team delivered AstraZeneca's first preclinical drug candidate discovered in China, and strengthened translational capabilities, established strategic outsourcing partnerships, and facilitated a series of scientific collaborations in China, Russia, Israel, Taiwan, and Korea.
Mr. Hu will be responsible for companywide investments, including strategic investments in new businesses, corporate venture capital investments, mergers and acquisitions, and joint ventures. He has served as the company's chief operating officer since January 2008 and as chief financial officer since February 2009. He spearheaded efforts to build many of the company's new businesses, including biologics, toxicology, genomics, and clinical trial services in China.
"I'm very pleased that Steve has joined WuXi as our chief operating officer, and that Ed will assume additional responsibilities as our chief investment officer," said Dr. Ge Li, chairman and chief executive officer of WuXi PharmaTech. "It is heroic efforts of leaders like Ed, with determination to build the best technology, science and capability platform to serve our customers, that have brought WuXi to where we are today. I am thrilled to have the opportunity to work with Ed, Steve, our WuXi leadership team and all of our WuXi colleagues to continue our mission to build the best R&D platform to enable anyone and any company to discover and develop healthcare products to benefit patients."