BRIEF: BrainAurora CEO resigns, citing health reasons
BrainAurora Medical Tech Ltd. (6681.HK) announced on Friday that its CEO and chief research officer Wang Xiaoyi resigned, effective Thursday, due to health issues caused by worsening depression.
The company said that Wang’s condition deteriorated during its IPO process, and he has decided to suspend all work to focus on treatment and recovery. It added the decision also helps ensure stable corporate governance. CTO and COO Cai Longjun will assume Wang’s duties.
Based in the city of Shaoxing in East China’s Zhejiang province, BrainAurora says it is China’s first company to integrate neuroscience and AI to develop medical-grade digital therapeutics. Its product pipeline spans vascular diseases, neurodegenerative conditions, mental health disorders and developmental disorders in children. Last year the company’s revenue rose 82% to 122 million yuan ($17 million), while its net loss narrowed 44.7% to 198 million yuan.
The company’s stock opened higher on Friday after the announcement and closed at HK$ 6.99 by the midday break, up 1.8%.
By Lee Shih Ta
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