The Entrepreneurial Journey of Ho Nhan – Former Nanogen CEO and Son Kim Clan’s Son-in-Law, Remembered.

The sudden passing of Mr. Ho Nhan, the former Chairman and CEO of Nanogen Pharmaceutical Biotechnology JSC, on the night of May 12th, shocked many people.

Mr. Nhan was known not only as a prominent scientist who made significant contributions to Vietnam’s biotechnology industry but also as the son-in-law of Mrs. Nguyen Thi Son, the founder of Son Kim Group, one of the most influential business families in Ho Chi Minh City.

On her personal page, Mrs. Nguyen Thi Son shared a heartfelt post announcing the sad news of her son-in-law’s passing. She wrote, “I know you were a man with many aspirations in your career and a strong desire to contribute to society, and you have proven that you could… Farewell, my son-in-law, Ho Nhan,” expressing her deep emotion and grief.

Before his untimely death, Mr. Ho Nhan was widely recognized as the “father” of Nanocovax, a COVID-19 vaccine researched and developed in Vietnam.

Two Decades of Biotechnology Research Abroad

According to sources, Mr. Ho Nhan (born in 1966) is a Vietnamese-American who grew up in New York City and obtained his Ph.D. in Biotechnology from the University of Arizona. In an interview with Forbes magazine, Mr. Nhan shared that he had spent 20 years researching biotechnology overseas and always dreamed of establishing his own biotechnology company. In 2006, he decided to return to Vietnam for good.

As the founder and leader of Nanogen since its early days in September 1997, Mr. Ho Nhan steered the company to become one of the few domestic enterprises focusing on biotechnology and biopharmaceutical specialty products.

Currently, Nanogen specializes in therapeutic lines for hepatitis B, hepatitis C, anemia, cancer, and more. Additionally, the company researches, invents, and conducts clinical trials for antibody lines used in immunotherapy for cancer treatment, COVID-19 vaccines, and therapies…

Mr. Nhan’s interests extended beyond biotechnology as he ventured into the financial sector. In April 2013, he was invited to join the Board of Directors of Vina Securities Joint Stock Company during a period of losses for the company. He served as a member of the company’s board from April 2013 to September 2017.

While living in the United States, he was involved in numerous mergers and acquisitions in the healthcare industry, ranging from pharmaceuticals to equipment and hospitals. He also led a team that valued healthcare stocks for a Hong Kong-based investment fund with assets worth billions of dollars. He was once a major shareholder of One World Service Joint Stock Company (ONW), holding up to 15.8% of the company’s shares as of the end of 2016.

Stepping Down as CEO of Nanogen, Mr. Ho Nhan Still Holds a Massive Fortune

Aside from being the son-in-law of the renowned Son Kim family, Mr. Ho Nhan also attracted attention in 2022 due to his massive wealth, estimated at VND 3,000 billion, derived from his 60% stake in Nanogen – the company that manufactures the COVID-19 vaccine, Nanocovax.

Nanogen Pharmaceutical Biotechnology Joint Stock Company was established in September 1997. Its legal representative and Chairman of the Board of Directors and CEO was Mr. Ho Nh, born in 1966. However, according to Nanogen’s business registration change announcement, Mr. Nhan is no longer the company’s CEO and legal representative as of December 29, 2021. His position has been taken over by his wife, Mrs. Nguyen Thi Hong Van.

Mrs. Nguyen Thi Hong Van is the eldest daughter of the Son Kim family. She is the daughter of Mrs. Nguyen Thi Son, the founder of Dai Thanh, a well-known textile and garment company since the 1950s.

Later, the third generation of the family developed SonKim Group (established in 1993), expanding into real estate, retail, and media, managing multiple international brands in the Vietnamese market.

As of the latest disclosure at the end of March 2021, Mr. Nhan remained the largest shareholder of the company, holding nearly 59.6%, while Mrs. Van owned 14.6% of Nanogen’s capital.

Initially, Nanogen had a chartered capital of VND 200 billion, all from private sources. The founding shareholder was Mr. Ho Nh, who contributed VND 140 billion, holding 70% of the company’s shares. Mrs. Nguyen Thi Hong Van contributed VND 50 billion, holding 25% of the shares, and served as the company’s director. Mr. Ho Vu Thanh contributed VND 10 billion, holding 5% of the shares.

In Vietnam, Nanogen gained fame for producing the Nanocovax vaccine. Prior to that, Nanogen was known as a pharmaceutical company specializing in drugs and biological specialties.

In 2019, KIS Securities Joint Stock Company (established by Korea Investment and Securities Co., Ltd.) invested nearly VND 11.6 billion to purchase 162,500 shares of Nanogen during the capital increase in the same year, equivalent to a valuation of over VND 71,000 per share.

As a result, Nanogen successfully raised its capital from VND 698.75 billion to VND 715 billion through share sales, raising VND 463.6 billion, equivalent to a company valuation of about VND 5,100 billion (USD 220 million). The ownership ratio of foreign investors in the company increased from 16.28% to 25.68%, all of whom were funds and individuals from South Korea.

Notably, Mr. Nhan held nearly 60%, equivalent to VND 3,000 billion. Meanwhile, Mrs. Van’s assets in Nanogen were valued at approximately VND 744 billion.

With their current assets, Mr. and Mrs. Ho Nhan rank among the top entrepreneurs on the list of Vietnam’s richest stock millionaires.