HUTCHMED Announces Appointment of Independent Non-Executive Director and Board Committee Member

HONG KONG, SHANGHAI, China and FLORHAM PARK, NJ, May 8, 2024 (GLOBE NEWSWIRE) — HUTCHMED (China) Limited (“HUTCHMED” or the “Company”) (Nasdaq/AIM: HCM, HKEX: 13) announces today that Dr. Renu Bhatia is appointed as an independent non-executive director and member of the technical committee of the company with effect from May 13, 2024.

Dr. Bhatia, a licensed physician, has over 25 years of experience in the healthcare, finance, fintech and regulatory industries. She is an experienced director and board chair, with healthcare and financial services experience in investment banking, asset management, venture capital and compliance. The HUTCHMED Board of Directors believes that Dr. Bhatia will further strengthen the skill set, expertise and knowledge base of the Board as a whole.

Mr. Simon To, Chairman of HUTCHMED, said: “On behalf of the Board of Directors, I would like to warmly welcome Dr. Bhatia to the Company. We believe his expertise in the healthcare, financial and fintech sectors will bring a fresh perspective and provide constructive insight to the board.

Dr Bhatia, 65, is Chairman and Co-Founder of Opharmic Technology (HK) Ltd, a company specializing in the development of ultrasound technology for non-invasive drug delivery to the eye. She is also the co-founder of Asia Fintech Angels, which has invested in early-stage fintech companies. Additionally, Dr. Bhatia is an independent non-executive director of Overstone Associates Limited, a leading UK-based provider of data science to financial institutions focused on the art industry.

Dr Bhatia is Chairman of the Listing Committee of the Stock Exchange of Hong Kong Limited. She also holds public service positions, including as a member of the Business Professional Federation Health Committee and the Cyberport Entrepreneurship Center Advisory Group, and acts as an evaluator for the Support Program Evaluation Group to Hong Kong businesses from the Innovation and Technology Fund. Dr. Bhatia began his career in finance at Goldman Sachs and HSBC Asset Management.

Dr. Bhatia holds a Doctor of Medicine (MBBS) from the University of London, an MBA from Yale University, and a postgraduate diploma in Therapeutics and Medicine from University of Hong Kong.

Dr. Bhatia has relevant board experience of the following private companies, currently holding or having held within the last five years the following directorships:

Except for the appointments listed above, Dr. Bhatia did not hold any other directorships or partnerships during the five-year period preceding his appointment as a director of HUTCHMED. She has no relationship with directors, senior management or significant or controlling shareholders of HUTCHMED. Dr Bhatia confirmed that (a) she has satisfied all the independence criteria set out in Rule 3.13(1) to (8) of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited (“Listing Rules”). from HK » ); (b) it had no financial or other interest, past or present, in the activities of the Company or its subsidiaries, nor any connection with any directly related person (as defined in the Hong Kong Listing Rules) of the society ; and (c) there are no other factors which could affect his independence at the time of his appointment.

The story continues

Dr. Bhatia’s initial tenure as an independent non-executive director of the Company will end at the next annual general meeting of the Company, subject to retirement in accordance with the Articles of Association of the Company and applicable laws and regulations. requirements, then for successive periods of 12 months, unless she is not re-elected at the next annual general meeting or her term of office is otherwise terminated earlier by either party in writing . Dr Bhatia’s fees as an Independent Non-Executive Director and Technical Committee Member of the Company under his letter of appointment are US$76,000 and US$8,000 per annum respectively. These fees are subject to review from time to time and on a prorated basis for any incomplete year of service.

Dr. Bhatia is interested in 16,000 ordinary shares with a par value of $0.10 each in the share capital of the Company, representing approximately 0.002% of its issued share capital.

Except for the information disclosed above, no other information relating to Dr. Bhatia shall be disclosed in accordance with Rule 17 and Schedule 2(g) of the AІM Rules for Companies or Rule 13.51(2) Hong Kong Listing Rules. and there are no other matters relating to the appointment of Dr. Bhatia that need to be brought to the attention of the shareholders of HUTCHMED.

About HUTCHMED

HUTCHMED (Nasdaq/AIM: HCM; HKEX: 13) is an innovative commercial-stage biopharmaceutical company. It engages in the discovery, global development and commercialization of targeted therapies and immunotherapies for the treatment of cancer and immunological diseases. It has around 5,000 employees spread across all its companies, at the center of which is a team of around 1,800 people in oncology/immunology. Since its inception, HUTCHMED has focused on bringing cancer drug candidates from in-house discovery to patients around the world, with its first three drugs marketed in China, the first of which is also marketed in the United States. For more information, please visit: www. hutch-med.com or follow us on LinkedIn.

Forward-looking statements

This announcement contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect HUTCHMED’s current expectations regarding future events. Forward-looking statements involve risks and uncertainties. These risks and uncertainties include, among others, the risk that current or future appointees to the board of directors of HUTCHMED may not be effective in their respective roles, the diffculty in finding and recruiting suitable candidates for its board of directors and the management difficulties that may arise. changes within the HUTCHMED board of directors. Existing and potential investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. For more information on these and other risks, see HUTCHMED’s filings with the United States Securities and Exchange Commission, AІM and the Stock Exchange of Hong Kong Limited. HUTCHMED undertakes no obligation to update or revise the information contained in this announcement, whether as a result of new information, future events or circumstances or otherwise.

CONTACTS