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The Board of Directors of Kinex Pharmaceuticals Appoints Dr. Allen Barnett as President Emeritus and Dr. Johnson Lau as Chief Executive Officer
Date:5/9/2011

BUFFALO, N.Y., May 9, 2011 /PRNewswire/ -- Kinex Pharmaceuticals, LLC announced today that Dr. Allen Barnett, who served as the Founding Chief Executive Officer, has decided to step aside as CEO.

Dr. Barnett stated "I am delighted to see Kinex Pharmaceuticals evolve from a start-up biotechnology company with only a technology platform to a company with a pipeline of two compounds in pre-IND to phase 2 developments. The recent collaboration established with Hanmi Pharmaceuticals is also an important milestone for Kinex. As the company grows, the need for both scientific and business efforts has increased tremendously. I believe that this is the right time to pass the torch to my successor who will help the company grow. I am delighted to say that I have been able to convince our Executive Chairman, Dr. Johnson Lau to step in to take the lead. I have worked with him for more than a decade in different settings and I am very happy to be able to have somebody with his experience and involvement with Kinex to lead the Company. I remain committed to assist with the growth of Kinex Pharmaceuticals in the many years to come."

Dr. Johnson Lau is a successful pharmaceutical executive who has had extensive leadership experience in both scientific and business management.  As Chairman and CEO of Ribapharm, he launched the second largest biotech IPO in US history. Prior to Ribapharm, he served as the Head of Worldwide Research and Development for ICN Pharmaceuticals.  Dr. Lau has served as the Senior Director of Antiviral Therapy at Schering-Plough where he played a significant role in the FDA approval of Ribavirin/Interferon and Pegylated interferon alpha-2b. He has more than 250 scientific publications in peer reviewed scientific journals, more than 50 editorials/reviews/chapters and has edited three books. He was a Managing Director at Roth Capital Partners at its headquarters in Newport Beach, California and is also a Director of the Board
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SOURCE Kinex Pharmaceuticals, LLC
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