AffaMed Therapeutics Announces Appointment of Vijay Karwal as Chief Financial Officer

AffaMed Therapeutics, a global clinical stage biopharmaceutical company dedicated to addressing critical unmet medical needs in ophthalmic, neurological and psychiatric disorders, today announced the appointment of Vijay Karwal as Chief Financial Officer. Reporting to AffaMed's CEO Dr. Dayao Zhao, Mr. Karwal will be responsible for all aspects of financial management and will work closely with AffaMed's leadership team to support the company's advancement into a leading biopharmaceuticals company.

"We are extremely pleased to have Vijay join AffaMed at this critical juncture in our development," said Dr. Zhao, CEO of AffaMed. "His extensive global experience and track record in executing financial transactions and advising on corporate strategy in both operating and investment banking roles will be invaluable in supporting AffaMed as we enter our next phase of growth. We look forward to welcoming Vijay to the team."

Based in Hong Kong, S.A.R., China, Mr. Karwal joins AffaMed from Nomura International where he served as Managing Director and Head of Healthcare Investment Banking for the Asia (ex-Japan) region. Prior to Nomura, he was Chief Development Officer, Asia Pacific, as well as General Manager of China operations for DaVita Inc., the international provider of kidney care services. Mr. Karwal previously held several senior investment banking roles globally, including as Asia Pacific Head of Consumer, Retail & Healthcare coverage at RBS, and as Head of Healthcare Banking in North America at ABN AMRO. Throughout his 25-year career he has been involved in a wide variety of advisory and financing transactions in the healthcare sector globally. A native of the Netherlands, Mr. Karwal was educated at the University of Southampton, UK, and the University of Groningen, the Netherlands, holds a M.Sc. in Economics, and is also a CFA charterholder.

Vijay Karwal commented, "Since its inception in 2019, AffaMed has built an exceptional global platform to develop innovative therapeutics and solutions to serve patients in Greater China and worldwide. Under the leadership of Dr. Zhao and with the strong support of its shareholders, the company has assembled world-class capabilities in clinical development, regulatory affairs and business development. Joining AffaMed is an exciting opportunity to work with a highly committed and professional team to deliver transformational medicines addressing significant unmet and under-served needs in patients with ophthalmic, neurological and psychiatric disorders. I look forward to contributing to AffaMed's growth and helping the team advance their strategic and financial objectives."

In March 2021, AffaMed announced the successful completion of over US$170 million in series B financing. The company also recently announced it has entered into an agreement with SIFI S.p.A, a leading international ophthalmic company, to establish a Joint Venture to develop, manufacture and commercialize premium innovative intraocular lenses (IOLs) in the Greater China market, including Taiwan, China, Macau, S.A.R., China and Hong Kong, S.A.R., China.

About AffaMed Therapeutics

AffaMed Therapeutics is a biopharmaceutical company focused on developing and commercializing transformative pharmaceutical products that address critical unmet medical needs in ophthalmic, neurological and psychological disorders for patients in Greater China and around the world. The leadership team of AffaMed Therapeutics has gained deep industry expertise and an extensive track record in high-quality clinical development, regulatory affairs, CMC, business development and commercial operations at leading multi-national pharmaceutical companies in China and globally. AffaMed Therapeutics was founded and funded by the CBC Group in 2019.