Viva Biotech (01873.HK), a Hong Kong-based provider of services ranging from early-stage structure-based drug R&D to commercial drug delivery, raised approx US$210M in funding.
The round saw participation from Temasek, Highlight Capital (HLC), and True Light. Following this transaction, the Viva Biotech Holdings group obtained financing of nearly US$150m through the transfer of approximately 24.21% equity in its CRO business entity, Viva Biotech (Shanghai) Limited. Before, the publicly listed company at the group level had already secured approximately US$ 60m in convertible bond financing, which will be automatically converted into shares at the price of 2.0 HKD/share on the delivery date.
The company intends to use the funds to expand operations and its development efforts.
Led by CEO Dr. Cheney Mao, Viva Biotech provides one-stop services ranging from early-stage structure-based drug R&D to commercial drug delivery to global biopharmaceutical innovators. Its business covers therapeutic strategies and drug modalities, including small molecules and biologics across the pharma and biotech spectrum. The team provides services for drug design, medicinal chemistry, custom synthesis, chemical analysis and purification, kilogram scale-up, peptide synthesis and corresponding bioassays. With its subsidiary, Langhua Pharmaceutical, the company offers its pharmaceutical and biotech partners a one-stop integrated CMC service from preclinical to commercial manufacturing. Additionally, Viva embedded an equity for service (EFS) model to high potential startups to address unmet medical needs.