BEIJING, Aug. 26, 2010 (GLOBE NEWSWIRE) -- China Nuokang Bio-Pharmaceutical Inc. (Nasdaq:NKBP) ("Nuokang" or the "Company"), a leading China-based biopharmaceutical company focused on the research, development, manufacture, marketing and sales of hospital-based medical products, today announced that Mr. Huining Cao was appointed to the Company's board of directors and as a member of the audit committee and the compensation committee. Mr. Cao is currently a professor of finance and serves as academic director for the Finance MBA program at the Cheung Kong Graduate School of Business.
Before joining the Cheung Kong Graduate School of Business, Mr. Cao held various faculty positions at the University of California, Berkeley, the University of California, San Diego, Ohio State University, Carnegie Mellon University and the University of North Carolina at Chapel Hill. Mr. Cao's research has been published in various journals, including the Journal of Finance, Review of Financial Studies and the Journal of Financial Economics.
In addition, Mr. Cao is also an independent director of Shenzhen Focus Technology Co., Ltd., a company listed on the Shenzhen Stock Exchange. He is also currently the editor of International Financial Review and sits on the editorial board of the Annals of Economics and Finance and China Financial Review.
Mr. Cao holds a Ph.D. in finance from the University of California, Los Angeles and a Ph.D. in pathology from Yale University. He has also received numerous awards for teaching and research excellence, including nominations for the Smith-Breeden Award in 1998 and 2000 for the best paper published in the Journal of Finance.
Mr. Cao will replace Mr. Neil Shen on the audit committee and compensation committee. Mr. Shen will remain as a member of the Company's board of directors.
Mr. Baizhong Xue, the Company's Chairman and Chief Executive Officer, stated, "We are pleased to welcome Mr. Huining Cao to our board as an independent director and a member of the audit and compensation committees. His experience as a published author, editor and professor in the fields of macroeconomics and finance brings incremental insight to the Company at the board level, and his foundation in pathology and biology makes him a particularly great fit for Nuokang. We are impressed with Mr. Cao's proven expertise, which nicely complements our existing senior management team, and look forward to his contributions in the future."
About China Nuokang Bio-Pharmaceutical Inc.
China Nuokang Bio-Pharmaceutical Inc. (Nasdaq:NKBP) is a leading biopharmaceutical company in China focused on the research, development, manufacture, marketing and sales of hospital-based medical products. The Company provides a diversified portfolio of products across more than 2,400 hospitals in China. Nuokang's principal products include Baquting®, China's leading hemocoagulase product by market share, and Aiduo®, a cardiovascular stress imaging agent. The Company's product pipeline includes product candidates under development in hematological, cardiovascular and cerebrovascular disease diagnosis, treatment and prevention. Please visit www.nkbp.com for more information.