Melvin Toh
About Melvin Toh
Melvin Toh, M.B.B.S., is a Director at DWTX since October 2024 and serves as Director and Vice President & Chief Scientific Officer at CK Life Sciences Int’l., (Holdings) Inc., a Hong Kong–listed company . He holds Bachelor of Medicine and Bachelor of Surgery degrees from the National University of Singapore and an MSc in Epidemiology from the University of London, with 30+ years in clinical medicine and pharmaceutical R&D, including prior leadership of Oncology Clinical Pharmacology at a U.S. pharma firm . Age: 58 (Board matrix) . Tenure on DWTX board: appointed October 2024 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| CK Life Sciences Int’l., (Holdings) Inc. | Director; Vice President & Chief Scientific Officer | Joined Jan 2008; promoted CSO Nov 2018 | Leads pharmaceutical development and scientific strategy |
| Leading U.S. pharmaceutical firm | Director of Clinical Pharmacology, Oncology Development | Prior to CK Life Sciences (dates not disclosed) | Directed clinical development of new cancer drugs |
External Roles
| Organization | Role | Listing/Market | Notes |
|---|---|---|---|
| CK Life Sciences Int’l., (Holdings) Inc. | Director; VP & Chief Scientific Officer | Main Board, Hong Kong Stock Exchange | Affiliate of Sealbond/Conjoint; CK LS is parent of Sealbond and Conjoint (indirect subsidiaries) |
Board Governance
- Committee assignments: None disclosed for Toh (Audit, Compensation, Nominating cells blank in Board matrix) .
- Independence: Not independent under Nasdaq rules; only Thomas, Keefer, De La Rosa, Whitley are designated independent, and Toh is not listed among independent directors . He and Alan Yu were designated to the DWTX board by Sealbond Limited under the Share Exchange Agreement .
- Attendance: In 2024, the Board held 9 meetings; each director attended at least 75% of Board and applicable committee meetings .
- Executive sessions: Board meets in executive session at least annually without management .
- Years of service: Director since October 2024 .
Fixed Compensation
Directors affiliated with CK Life Sciences do not receive DWTX board compensation; Toh is CK Life Sciences–affiliated, so his board compensation is $0 .
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer | $0 | CK LS–affiliated directors do not receive board pay |
| Committee membership fees | $0 | No committee roles |
| Committee chair fees | $0 | No chair roles |
| Meeting fees | Not disclosed | No director meeting fees disclosed |
| Option/Equity grants | $0 | No options or equity grants to Toh under the Plan |
Performance Compensation
- No performance-based director compensation disclosed for Toh; no RSUs/PSUs/options granted to him . Directors affiliated with CK Life Sciences receive no board compensation .
Other Directorships & Interlocks
| Company | Role | Interlock/Conflict Considerations |
|---|---|---|
| CK Life Sciences Int’l., (Holdings) Inc. | Director; VP & CSO | CK LS indirectly owns Sealbond and Conjoint, which will collectively control ~83% of DWTX post-conversion (Sealbond 73.4%, Conjoint 9.6%), creating a controlling shareholder environment; Toh was designated to DWTX’s board by Sealbond, indicating affiliation and potential conflicts . |
Expertise & Qualifications
- Medical and epidemiology credentials (MBBS; MSc Epidemiology), with >30 years in clinical medicine and pharma R&D .
- Oncology development expertise; led clinical pharmacology for cancer drug programs at a U.S. pharma .
- Senior executive and scientific leadership at CK Life Sciences since 2008; CSO since 2018 .
Equity Ownership
| Metric | As of Apr 15, 2025 | As of Oct 15, 2025 | Post-Conversion Pro Forma |
|---|---|---|---|
| Shares beneficially owned | 0 (less than 1%) | 0 (less than 1%) | 0 (less than 1%) |
| Options exercisable | None | None (table shows “—” for Toh) | None |
| Options unexercisable | None | None | None |
| Pledged shares | Not disclosed | Not disclosed | Not disclosed |
Beneficial ownership tables list Toh with no shares and no options; Sealbond/Conjoint (CK LS affiliates) are major holders .
Governance Assessment
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Strengths:
- Deep oncology and clinical development expertise enhances board technical capabilities for Halneuron® and SP16 programs .
- Board holds executive sessions without management; audit, compensation, and nominating committees are fully independent per Nasdaq rules (membership excludes Toh) .
- Insider Trading Policy prohibits short sales and derivatives, reducing misalignment risks from hedging .
-
Risks and Red Flags:
- Non-independence and designation by Sealbond (CK LS affiliate) present affiliation risks; Sealbond/Conjoint are expected to control ~83% post-conversion (Sealbond 73.4%, Conjoint 9.6%), consolidating power among CK LS affiliates .
- Support Agreements require directors/executives to vote their shares in favor of proposals related to preferred conversion and adjournment; while Toh holds no shares, this underscores sponsored governance alignment with controlling affiliates .
- Toh receives no DWTX board equity or cash compensation and holds no DWTX equity, limiting personal “skin-in-the-game” alignment with minority shareholders .
- Significant dilution risk from conversion of preferred stock (22.69M Series A + 2.84M Series A-1 + 1.90M Series A-2 shares) elevates governance scrutiny over capital allocation and minority rights .
Overall, Toh contributes meaningful R&D expertise but is a non-independent, CK Life Sciences–affiliated director in a controlling shareholder context with expected post-conversion ownership concentration; lack of DWTX equity or director pay further reduces direct minority investor alignment .