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Kinex Pharmaceuticals Receives Substantial Strategic Investment



8/1/2012 10:40:49 AM

BUFFALO, N.Y., July 31, 2012 /PRNewswire/ -- Kinex Pharmaceuticals, LLC announced today that it has received a substantial investment from a prominent Asian investor.

Dr. Manson Fok is the Founder of the Pedder Clinic, which is one of the largest private medical practices in Hong Kong. Dr. Fok is the Dean of the Faculty of Health Sciences at the University of Macau (MUST) and President of the Macau Healthcare Management and Promotion Association (MHMPA).

"Greater China is well prepared to evolve as a global player in the field of biotechnology and pharmaceuticals. I look forward to assisting Kinex Pharmaceuticals in their Asian business strategy," stated Dr. Fok.

"Dr. Fok is a very successful doctor, entrepreneur, and a philanthropist. We are delighted that he has agreed to serve the Company as an advisor. His scientific knowledge, his business experience and his extensive network will be instrumental as Kinex advances its Asian strategy," stated Dr. Johnson Yiu-Nam Lau, Chairman and CEO of Kinex Pharmaceuticals.

"Securing the confidence of a strategic investor such as Dr. Manson Fok cannot be overstated," said Mr. Flint Besecker, Chairman of the Finance, Audit and Risk Management Committee of the Kinex Board of Directors. Mr. Besecker was formerly Managing Director of GE Healthcare Financial Services.

About Kinex Pharmaceuticals, LLC

Kinex Pharmaceuticals, headquartered in Buffalo, New York, USA, is using its proprietary technologies Mimetica and Opal to discover and develop novel drugs for oncology and immune-modulatory diseases. More information of Kinex Pharmaceuticals can be found at www.kinexpharma.com

Kinex Pharmaceuticals, LLC Caution Regarding Forward-looking Information

Under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, Kinex Pharmaceuticals cautions investors that any forward-looking statements or projections made by Kinex Pharmaceuticals, including those made in this announcement, are subject to risks and uncertainties that may cause actual results to differ materially from those projected.

Kinex Inquiries:

Lyn M. Dyster, Ph.D.
Senior VP, Operations
Kinex Pharmaceuticals
701 Ellicott Street
Buffalo, NY 14203
USA
E-mail: ldyster@kinexpharma.com

SOURCE Kinex Pharmaceuticals, LLC


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