SHANGHAI, Sept. 20, 2020 /PRNewswire/ -- Viva Biotech
(Shanghai) Co., Ltd. (hereinafter
referred to as "Viva Biotech" or "The Company") entered into the
Share Purchase Agreement pursuant to which Viva Biotech agreed to
acquire and the Vendors agreed to collectively sell 100% of the
equity interest in SYNthesis med chem (Hong Kong) Limited (hereinafter referred to as
" SYNthesis "), at the consideration of approximately US$ 80 million (equivalent to approximately
HK$ 620 million). The acquisition
will achieve the synergies between Viva Biotech and SYNthesis,
regarding to the CRO business in the global market, which is of
great strategic significance for The Company to conduct vertical
integration and establish a comprehensive one-stop drug services
platform.
SYNthesis is a preclinical small molecule drug discovery service
contract organisation which mainly provides high-end pharmaceutical
chemistry and synthetic chemistry services to its clients.
SYNthesis is headquartered in Hong
Kong and has service platforms in Suzhou, Shanghai and Australia. It generates revenue mainly from
customers in the United States,
Australia and the United Kingdom, and has established branches
in these regions for project management and business expansion. The
company's senior science management team comprises international
and professional talents with extensive experience in drug
development. As of December 31st,
2019, the company has more than 200 employees, and serves
over 250 pharmaceutical companies and biopharmaceutical companies
worldwide.
Viva Biotech operates a world-leading structure-based,
integrated drug discovery platform, providing structure-based drug
discovery services to biotechnology and pharmaceutical customers
worldwide for their preclinical stage innovative drug development,
covering the full spectrum of our customers 'needs for early stage
drug discovery. As of June 30th,
2020, Viva Biotech has served 495 pharmaceutical customers
worldwide. Through EFS business, the company has incubated and
invested 56 early-stage companies, covering a variety of
indications and cutting-edge medical areas, with a wide range of
mechanisms. Viva Biotech's mission is to become the cradle for
promising biotechnology companies all around the world. The company
has been continuously building up a comprehensive one-stop drug
services platform though strategic collaboration, acquisition and
so on.
"We are very delighted to achieve the strategic acquisition
agreement with SYNthesis. We believe that SYNthesis's technical
platform and international team in the field of pharmaceutical
chemistry and synthetic chemistry will quickly strengthen the
capabilities of Viva Biotech from early drug discovery service to
drug R & D downstream business, as well as boost The Company's
downstream integration to CMC and CDMO fields. SYNthesis and Viva
Biotech are going to form a good complementarity and broaden the
diversity of customer groups,"
Dr. Chen Cheny Mao, Chairman and
CEO of Viva Biotech said.
"Through the active layout and establishment of a comprehensive
one-stop drug service platform, Viva Biotech will continue to be
committed to providing more customers and portfolio companies with
higher quality of the full stage service of innovative drug
research and development."
Dr. Xianyong Bu, Managing
Director of SYNthesis said, "I am thrilled and delighted to
have my team at SYNthesis join forces with the Viva team. Our
preclinical small molecule pharmaceutical chemistry platform will
be organically combined with the structure-based drug discovery and
bioassay platforms of Viva Biotech, to provide a comprehensive
preclinical R&D services for more customers. Together we will
become a force to be reckoned with in the high-end medicinal
chemistry space."
About Viva Biotech
Viva Biotech operates a leading structure-based, integrated drug
discovery platform, providing drug discovery services to
biotechnology and pharmaceutical customers worldwide. The company's
mission is to become the cradle for promising biotechnology
startups around the world. Viva Biotech actively combines
conventional cash-for-service (CFS) and unique equity-for-service
(EFS) approaches to realize a combination of short and long term
innovation-driven returns. CFS business covers the full spectrum of
its customers' needs for early-stage drug discovery, including
target protein expression and structure research, hit screening,
lead optimization, and drug candidate determination. EFS business
also provides drug discovery and incubation services to high
potential biotechnology start-ups around the world. As of
June 30th, 2020, Viva Biotech has
served 495 pharmaceutical customers worldwide, worked on over 1,300
independent drug targets, delivered approximately over 17,000
independent protein structures and incubated/invested 56
early-stage companies.
For More Info, Please Visit www.vivabiotech.com
About SYNthesis
SYNthesis med chem (Hong Kong)
Limited is a Shanghai- and
Suzhou-based contract chemistry organisation focused upon
delivering high-end medicinal chemistry and synthetic chemistry
services to the global drug discovery sector. With facilities
in China and offices in
Australia, UK and USA, the company's global reach covers high
quality academic groups, biotech companies, and big pharma
organisations.
For More Info, Please Visit https://synmedchem.com
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SOURCE Viva Biotech