{"id":9671,"date":"2022-05-20T07:00:00","date_gmt":"2022-05-20T07:00:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/3764429_CN64429_0"},"modified":"2022-05-20T07:00:00","modified_gmt":"2022-05-20T07:00:00","slug":"cbc-welcomes-former-allergan-ceo-brent-saunders-to-join-hugel-board-as-executive-chair","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=9671","title":{"rendered":"CBC Welcomes Former Allergan CEO Brent Saunders to Join Hugel Board as Executive Chair"},"content":{"rendered":"<ul type=\"disc\">\n<li><i>Saunders brings decades of healthcare leadership experience, and plans to propel Korea&#8217;s #1 medical aesthetics company into a global industry leader <\/i><\/li>\n<li><i>Saunders will serve as Hugel&#8217;s Executive Board Chair starting <span class=\"xn-chron\">June 29, 2022<\/span><\/i><\/li>\n<li><i>The appointment of Saunders is an example of CBC Group continuing to empower its portfolio ecosystem with introduction of seasoned executives and operators <\/i><\/li>\n<\/ul>\n<p><span class=\"legendSpanClass\"><span class=\"xn-location\">SINGAPORE<\/span><\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">May 20, 2022<\/span><\/span> \/PRNewswire\/ &#8212; Hugel, Inc. (&#8220;Hugel&#8221;, 145020.KQ), Korea&#8217;s #1 leader in the botulinum toxin and hyaluronic acid fillers space, announced the appointment of <span class=\"xn-person\">Brent Saunders<\/span> to its Board of Directors, effective immediately in advance of his election as Executive Chair on <span class=\"xn-chron\">June 29, 2022<\/span>. The news comes on the heels of the close of the Hugel Inc. transaction by a consortium led by CBC Group (&#8220;CBC&#8221;), <span class=\"xn-location\">Asia&#8217;s<\/span> largest healthcare-dedicated investment firm.<\/p>\n<p>Mr. Saunders brings Hugel over 25 years of expertise in the pharmaceutical and medical aesthetics industries and has facilitated over <span class=\"xn-money\">$300 billion<\/span> in deals across the healthcare and life sciences sectors over the course of his career. Mr. Saunders previously served as Chairman, President, and CEO of Allergan Aesthetics until its 2020 acquisition by AbbVie in a transaction valued at approximately <span class=\"xn-money\">$63 billion<\/span>. Allergan Aesthetics is the maker of Botox, the world&#8217;s top-selling botulinum toxin brand, as well as the maker of leading dermal filler Judvederm. Earlier in his career, Mr. Saunders was President of Schering-Plough Corporation&#8217;s Global Consumer Healthcare division, where he facilitated the company&#8217;s acquisition of Organon Biosciences and the merger between Schering-Plough and Merck. Mr. Saunders also served as President and CEO of Forest Laboratories from 2013 to 2014, and Chairman and CEO of Bausch + Lomb Incorporated from 2010 to 2013. He currently serves as CEO of Vesper Healthcare Acquisition Corp.<\/p>\n<p><span class=\"xn-person\">Brent Saunders<\/span> commented, &#8220;I am excited to join the world- class team at Hugel and CBC to continue building a global leader in medical aesthetics. With their commitment to operational excellence, customer service and R&amp;D, our future is very bright.&#8221;<\/p>\n<p>CBC is proud to bring on a leader that shares the firm&#8217;s vision to widen access to healthcare services by improving efficiency to fulfil unmet medical needs around the world. &#8220;As Asia&#8217;s largest healthcare-focused investment firm, CBC is a steadfast investor-operator and serial entrepreneur, committed to connect our portfolios with top industry veterans for accelerating sustainable growth,&#8221; said Fu Wei, CEO of CBC. &#8220;For decades, Brent has been one of the industry&#8217;s most respected visionaries, and he has a stellar track record of taking life sciences companies to the next level. His deep understanding of the medical aesthetics industry will further accelerate Hugel&#8217;s expansion beyond the Asian markets.&#8221;&nbsp;<\/p>\n<p><span class=\"xn-person\">Son Ji<\/span>-hoon, CEO of Hugel, said, &#8220;<span class=\"xn-person\">Brent Saunders<\/span> is an unparalleled leader in the global medical aesthetics industry, and he achieved remarkable results in his previous roles, including at the helm of Allergan. With his expertise and global experience, we plan to become a leading company in the global medical aesthetics industry, supported by our new investors and Board of Directors. I look forward to this new phase in our development, and to providing more medical aesthetics solutions to consumers and practitioners around the world.&#8221;<\/p>\n<p>Hugel obtained its toxin license in <span class=\"xn-location\">China<\/span> in late 2020, and rapidly gained 10% market share over its first year since launching in the country. Hugel also obtained marketing approval recommendation from the European HMA in <span class=\"xn-chron\">January 2022<\/span>, in addition to country level approvals from nine European countries including UK, <span class=\"xn-location\">France<\/span>, <span class=\"xn-location\">Germany<\/span>, <span class=\"xn-location\">Italy<\/span>, <span class=\"xn-location\">Austria<\/span>, <span class=\"xn-location\">Portugal<\/span>, <span class=\"xn-location\">Ireland<\/span>, <span class=\"xn-location\">Netherlands<\/span>, and <span class=\"xn-location\">Romania<\/span>. It is in the final stage of US FDA approval, which it could secure by mid-2023, opening a tremendous opportunity in the world&#8217;s largest medical aesthetics market.<\/p>\n<p>CBC empowers sustainable, efficient growth of its portfolio companies throughout their lifecycles with a range of strategies including buyout, venture capital, private credit, and infrastructure solutions. Recent major milestones among its portfolio companies include the successful <span class=\"xn-money\">$67 million<\/span> Series A financing of <span class=\"xn-location\">Boston<\/span>-based Ensem Therapeutics, a biotechnology company focused on high-value and difficult-to-drug oncology targets, as well as a <span class=\"xn-money\">$140 million<\/span> financing round for RVAC Medicines, which will support the launch of a new R&amp;D center and manufacturing sites in <span class=\"xn-location\">Singapore<\/span> to develop novel mRNA vaccines.<\/p>\n<p><b>About CBC<\/b><\/p>\n<p>CBC Group, <span class=\"xn-location\">Asia&#8217;s<\/span> largest healthcare-dedicated investment firm, is committed to creating value and integrating global resources. Partnering with the world&#8217;s top entrepreneurs and scientists, its unique investor-operator approach has empowered global leading healthcare companies to widen access to affordable medical care, catalyze innovations, and improve efficiency in fulfilling unmet medical needs worldwide. Founded in 2014, CBC has a leading team of investment, industry and portfolio management professionals headquartered in <span class=\"xn-location\">Singapore<\/span> with offices in <span class=\"xn-location\">Shanghai<\/span>, <span class=\"xn-location\">Beijing<\/span>, <span class=\"xn-location\">Hong Kong<\/span> and <span class=\"xn-location\">New York<\/span>, and presences in <span class=\"xn-location\">Boston<\/span>, <span class=\"xn-location\">San Diego<\/span>, <span class=\"xn-location\">San Francisco<\/span>, and <span class=\"xn-location\">Tokyo<\/span>. CBC focuses on platform-building, buyout, credit and growth-focused opportunities across multiple core areas within the healthcare sector, including pharmaceutical and biotech, medical technology and healthcare services. For more information, please visit <a href=\"http:\/\/www.cbridgecap.com\/\" target=\"_blank\" rel=\"nofollow noopener\">www.cbridgecap.com<\/a>.<\/p>\n<p id=\"PURL\"><img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CN64429&amp;sd=2022-05-20\"> View original content:<a id=\"PRNURL\" rel=\"nofollow noopener\" href=\"https:\/\/www.prnewswire.com\/news-releases\/cbc-welcomes-former-allergan-ceo-brent-saunders-to-join-hugel-board-as-executive-chair-301551867.html\" target=\"_blank\">https:\/\/www.prnewswire.com\/news-releases\/cbc-welcomes-former-allergan-ceo-brent-saunders-to-join-hugel-board-as-executive-chair-301551867.html<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saunders brings decades of healthcare leadership experience, and plans to propel Korea&#8217;s #1 medical aesthetics company into a global industry leader Saunders will serve as Hugel&#8217;s Executive Board Chair starting June 29, 2022 The appointment of Saunders is an example of CBC Group continuing to empower its portfolio ecosystem with introduction of seasoned executives and [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":9672,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-9671","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - 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