Our corporate structure

MUNIN (HK) Limited was incorporated in Hong Kong as a closely held biotechnology-based limited company in 2012, with a shareholder structure that mirrors MUNIN Corporation, which was incorporated in Chicago, Illinois, USA in 1993. MUNIN Corporation began actively involved in research and development at its Chicago Technology Park location in 1996.

On January 8, 2013, MUNIN Corporation exclusively licensed to MUNIN the rights, titles and interests to all worldwide patents and patent applications relevant to Cyr61 and GPBP held by MUNIN Corporation for a period of 20 years. This licensing agreement was designed to allow for flexibility in the overall group’s capital structure, location of headquarters and ease of access to Asian capital markets and funding. The Hong Kong Company has full access to all material and methods owned by the MUNIN Corporation and will serve as the operating company for research, development, marketing and sales of our anti-cancer drug.

Existing shareholder ownership structure

Founder background and fundraising history

The senior scientist overseeing the company’s research effort is Dr. Cho-Yau Yeung, who held a full time faculty appointment in the department of molecular genetics at the University of Illinois-Chicago (UIC) College of Medicine from 1985-2004 before taking early retirement from UIC in 2004 to direct the MUNIN Corporation on a full time basis.

Company revenue in the past has been derived mainly from patent royalty and licensing fee income and federally supported SBIR funds provided by NIH. Funding of SBIR projects is highly competitive and requires scientific peer and council review administered by NIH. The MUNIN Corporation has successfully competed for and completed 6 Phase I and 2 Phase II SBIR projects worth over US$2.9 million under the direction of senior scientists since 1996.

Since the incorporation of MUNIN, Dr. Yeung has invested over US$2 million into the company, along with his full-time commitment to the company since 2004.