InnoCare Appoints Xin Fu as Chief Financial Officer

InnoCare Pharma (HKEX: 09969; SSE: 688428), a leading biopharmaceutical company focusing on cancer and autoimmune diseases, announced today that the Company appointed Mr. Xin Fu, who has extensive finance-related experience, as the Chief Financial Officer (CFO). He reports to the Co-founder, Chairwoman and CEO of InnoCare Pharma, Dr. Jasmine Cui. Mr. Fu is responsible for the Company's growth strategy, financial management, investment & financing activities as well as investor relations management, aiming to contribute to the Company's globalization and operational efficiency to achieve the Company's 2.0 objectives.

Mr. Fu has over 20 years of financial management experience, including 15 years in the healthcare industry. Before joining InnoCare, Mr. Fu served as the Chief Financial Officer at JW Therapeutics, where he played a critical role in the completion the of IPO in the Hong Kong Stock Exchange, company strategy planning, investment and financing activities, etc. Prior to JW Therapeutics, Mr. Fu held multiple leadership positions at Pfizer China, including Chief Financial Officer and Chief Compliance Officer. He led the financial team to support the steady growth of company's performance, oversaw major projects such as business restructuring, acquisitions and joint ventures, developed long-term strategic plans, and established multiple comprehensive systems for budget control and tax management.

"We are delighted to welcome Mr. Fu joining InnoCare," said Dr. Cui. "He has rich experience in strategic planning, investment and financing, financial management, and has been deeply engaged in the healthcare industry for many years. I believe his extensive experience and excellent expertise in financial management will further contribute to the Company's globalization."

"I am honored to join InnoCare and make my contribution to drive the fast-growing period of Company 2.0. InnoCare's strong innovation capabilities and robust pipelines have left a profound impression on me.  I look forward to working with this world-class team to contribute more to the Company's healthcare endeavors," Mr. Fu stated.

Mr. Fu graduated from Fudan University majoring in accounting and holds a qualification of U.S. Certified Management Accountant (CMA).

About InnoCare

InnoCare is a commercial stage biopharmaceutical company committed to discovering, developing, and commercializing first-in-class and/or best-in-class drugs for the treatment of cancer and autoimmune diseases with unmet medical needs in China and worldwide. InnoCare has branches in Beijing, Nanjing, Shanghai, Guangzhou, Hong Kong, and United States.