Gland Pharma: Director Resigns, New Director Appointed; Invests $21M in US Subsidiary

Gland Pharma Limited announced significant board changes and an investment. Mr. Wenjie Zhang resigned as a Non-Executive & Non-Independent Director due to pre-occupations, with his resignation accepted immediately. Concurrently, Mr. Xingli Wang has been appointed as an Additional Director (Non-Executive & Non-Independent). The company also approved an investment of USD 21 million by its wholly-owned subsidiary, Gland Pharma USA Inc., into Novelstar Pharma Inc. This investment aims to facilitate business expansion in the United States, making Novelstar a step-down subsidiary of Gland Pharma. Board committees have been realigned following these changes.