Cision PR Newswire
Viva Biotech Secures Approximately US$ 210 Million Funding
News provided byViva Biotech Holdings
Nov 20, 2023, 6:58 AM ET
HONG KONG, Nov. 20, 2023 /PRNewswire/ -- On November 20, 2023, Viva Biotech Holdings Group (1873. HK) announced that it completed a funding round, securing approximately US$210 million and bringing in the strategic investors, Temasek, Highlight Capital (HLC), and True Light. Following this transaction, the Viva Biotech Holdings group obtained financing of nearly US$150 million through the transfer of approximately 24.21% equity in its CRO business entity, Viva Biotech (Shanghai) Limited. Before, the publicly listed company at the group level had already secured approximately US$ 60 million in convertible bond financing, which will be automatically converted into shares at the price of 2.0 HKD/share on the delivery date.
Dr. Cheney Mao, Chairman and CEO of Viva Biotech, stated that we are pleased to announce the completion of the equity investment and convertible bond arrangement with our strategic investors. This step is pivotal for our future strategic plans, fostering Viva's rejuvenation and sustainable growth, and leading to greater value and returns. At Viva Biotech, innovation remains our cornerstone, as we continuously improve our state-of-the-art technology platforms, fully leveraging the capabilities of our globally recognized drug research and development service platform, among other ventures. Looking ahead, Viva Biotech is committed to maintaining its unique approach to providing comprehensive, one-stop services in drug research, development, and production. Leveraging our extensive experience and unique position in pioneering First-in-class drug discovery, coupled with our comprehensive service offerings, we are dedicated to delivering specialized, customized, full-range services to the global biotech and pharmaceutical industries. This commitment is underpinned by the profound expertise of our highly skilled team of scientists.
About Viva Biotech
Established in 2008, Viva Biotech (01873.HK) provides one-stop services ranging from early-stage structure-based drug R&D to commercial drug delivery to global biopharmaceutical innovators.
We offer leading early-stage to late-phase drug discovery expertise by integrating our dedicated team of experts, cutting-edge technology platforms, and state-of-the-art equipment in X-ray crystallization, Cryo-EM, ASMS, SPR, HDX, CADD, and much more. Our business covers all aspects of therapeutic strategies and drug modalities, including small molecules and biologics across the pharma and biotech spectrum. The experienced chemistry team, led by senior medicinal chemists and drug discovery biologists, provides services for drug design, medicinal chemistry (hit to lead and lead optimization), custom synthesis, chemical analysis and purification, kilogram scale-up, peptide synthesis and corresponding bioassays. With our subsidiary, Langhua Pharmaceutical, we offer our worldwide pharmaceutical and biotech partners a one-stop integrated CMC (Chemical, Manufacturing, and Control) service from preclinical to commercial manufacturing. Additionally, Viva embedded an equity for service (EFS) model to high potential startups to address unmet medical needs.
Introduction of Relevant Investors:
Temasek is a global investment company with a net portfolio value of S$382 billion as at 31 March 2023. Its Purpose "So Every Generation Prospers" guides it to make a difference for today's and future generations. As an active investor, forward looking institution and trusted steward, it is committed to deliver sustainable value over the long term. Temasek has overall corporate credit ratings of Aaa/AAA by rating agencies Moody's Investors Service and S&P Global Ratings respectively. Headquartered in Singapore, it has 13 offices in 9 countries around the world: Beijing, Hanoi, Mumbai, Shanghai, Shenzhen, and Singapore in Asia; and London, Brussels, Paris, New York, San Francisco, Washington DC, and Mexico City outside Asia.
About HighLight Capital (HLC)
HighLight Capital (HLC) is dedicated to creating long-term values through the promotion of technology innovations. Empowered by deep knowledge in chemical, biological and material sciences, and leveraging proprietary industry research and comprehensive enablement services, HLC strives to create sustainable value over the long term by investing in companies that boost manufacturing efficiency.
HLC has invested in over 100 leading companies, including Mindray, United Imaging, Yuwell, Wuxi Biologics, Tigermed, Baheal Pharma, Pharmaron, BrightGene, Hongene, BABO, XINGYUN Group, CHOWSING Nourse, Nayuki.
SOURCE Viva Biotech Holdings
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