SHANGHAI and SYDNEY, Dec. 29, 2020 /PRNewswire/ -- Novotech Health Holdings ("Novotech Holdings"), the largest biotech specialist contract research organization (CRO) in Asia, today announced the appointment of Zidong Zhang as Chief Financial Officer (CFO) effective 4 January 2021. Zidong Zhang will be responsible for all aspects of financial management and work closely with Novotech Holdings' executive team to support the growth of the business across Asia.

Dr. Zhang was most recently CFO at Henlius Biotech, a Hong Kong-listed global biopharmaceutical company based in Shanghai, where he built and managed the finance team and played an integral role in the company's initial public offering in 2019. Prior to that, Dr. Zhang was an equity research analyst at UBS in New York, where he covered the Major and Specialty Pharmaceutical Sector. He also previously served as Senior Consultant for Bayer A.G. in its healthcare practice and conducted postdoctoral research in diabetes-related drug development at Boston University's School of Medicine. Dr. Zhang holds a PhD in Biochemistry from Boston University, an MBA from Duke University, and a BS in Chemistry from Fudan University.

Joel Thickins, Chairman of Novotech Holdings and TPG Capital Asia's Head of Australia and New Zealand, said, "With a diverse background in financial management, capital markets transactions, healthcare research and consulting, Zidong Zhang has a unique combination of skills and experience that are well suited to our growth ambitions. Zidong will further bolster Novotech's leadership team and help to facilitate our expansion throughout Asia."

John Moller, CEO of Novotech Holdings said, "Zidong's extensive experience in biotech and healthcare, coupled with his financial expertise from his roles at UBS and Henlius Biotech will be invaluable as we enter the next phase of growth for our business. We look forward to welcoming Zidong to the team." 

Zidong Zhangsaid, "The biotech sector in Asia is still in its infancy and there will be significant growth in demand for quality clinical trial services as the sector develops. Joining Novotech Holdings is an exciting opportunity to work with a highly committed and professional team to deliver a strong growth strategy as we help our clients to develop the next generation of innovative drugs."

ABOUT NOVOTECH HEALTH HOLDINGS

Novotech Health Holdings ("Novotech Holdings") is the leading Asian biotech CRO and consists of two operating brands, Novotech and PPC. Novotech Holdings is a full-service CRO with integrated labs and phase I facilities providing drug development consulting and clinical development services. It has been instrumental in the success of approximately 3,700 clinical trials across all trial phases and therapeutic areas. Novotech Holdings is uniquely positioned to serve biopharmaceutical clients conducting clinical trials in Asia and globally. Novotech Holdings employs approximately 1,550 people in 21 offices across 12 geographies including Greater China, South Korea, South East Asia, India and ANZ. Novotech Holdings is majority owned by TPG Capital Asia funds.

ABOUT TPG

TPG is a leading global alternative asset firm founded in 1992 with approximately $85 billion of assets under management and offices in Austin, Beijing, Fort Worth, Hong Kong, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul, Singapore, and Washington, DC. TPG's investment platforms are across a wide range of asset classes, including private equity, growth equity, impact investing, real estate, and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of its portfolio. For more information, visit www.tpg.com on Twitter @TPG.