{"id":17939,"date":"2023-06-13T22:58:00","date_gmt":"2023-06-13T14:58:00","guid":{"rendered":"https:\/\/flcube.com\/?p=17939"},"modified":"2024-12-14T23:01:14","modified_gmt":"2024-12-14T15:01:14","slug":"viva-biotech-holdings-divests-stake-in-shanghai-unit-to-temasek-backed-entities","status":"publish","type":"post","link":"https:\/\/flcube.com\/?p=17939","title":{"rendered":"VIVA Biotech Holdings Divests Stake in Shanghai Unit to Temasek-Backed Entities"},"content":{"rendered":"\n

China-based Contract Research Organization (CRO) VIVA Biotech Holdings (HKG: 1873<\/a>) has agreed to sell a stake in its Shanghai unit to entities backed by Singapore’s investment fund Temasek and China-based HighLight Capital, raising RMB 1.06 billion (USD 148.7 million). This transaction reduces VIVA Biotech\u2019s stake in VIVA Shanghai from 100% to approximately 76%, indicating VIVA\u2019s strategy to spin off the Shanghai firm for an independent listing. The net proceeds from the deal will be utilized to settle convertible bonds, without impacting the company\u2019s internal resources.<\/p>\n\n\n\n

Stake Distribution and Future Plans<\/strong>
Post-deal, two Temasek-owned firms, Daxue Investments and True Light P, will collectively hold a 17.55% stake in VIVA Shanghai, while HighLight Capital-linked companies HLC SPV and Qingdao Hongyi, will possess a combined 6.66% stake. This investment showcases confidence in VIVA Biotech’s operations and its potential for growth in the pharmaceutical sector.<\/p>\n\n\n\n

Restructuring and Asset Realignment<\/strong>
VIVA Biotech is in the midst of restructuring its assets and personnel related to early-stage drug discovery to VIVA Shanghai, while drug development and manufacturing services are being moved out of the Shanghai unit to VIVA Biotech. This strategic realignment aims to streamline operations and enhance the company’s focus on its core competencies in drug discovery and development.-Fineline Info & Tech<\/a><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

China-based Contract Research Organization (CRO) VIVA Biotech Holdings (HKG: 1873) has agreed to sell a…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAownpewDA:productID":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[7,10],"tags":[19,20,1353,1352],"class_list":["post-17939","post","type-post","status-publish","format-standard","hentry","category-company","category-deals","tag-cro-cmo-cdmo","tag-finance","tag-hkg-1873","tag-viva-biotech"],"yoast_head":"\nVIVA Biotech Holdings Divests Stake in Shanghai Unit to Temasek-Backed Entities - Insight, China's Pharmaceutical Industry<\/title>\n<meta name=\"description\" content=\"China-based Contract Research Organization (CRO) VIVA Biotech Holdings (HKG: 1873) has agreed to sell a stake in its Shanghai unit to entities backed by Singapore's investment fund Temasek and China-based HighLight Capital, raising RMB 1.06 billion (USD 148.7 million). 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