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- Viva Biotech Lands $210M as Temasek Backs China CRO
Viva Biotech Lands $210M as Temasek Backs China CRO
Drug R&D specialist secures funding from Singapore sovereign fund and others to reinvigorate growth plans for its one-stop discovery and manufacturing services
Osama Khalid
November 22, 2023
Viva Biotech secures $210 million in funding, including a $150 million investment from Singapore's Temasek, as it seeks to enhance its drug R&D and manufacturing services, focusing on advancing technology platforms and supporting growth plans in the healthcare and life sciences sector in China.
Viva Biotech Holdings announced it has secured approximately $210 million through a new funding round, bringing in strategic investors like Singapore's sovereign wealth fund Temasek.
Who invested?
The deal includes $150 million from selling a 24.21% equity stake in Viva Biotech’s main CRO business unit to Temasek, Highlight Capital, and True Light Ventures.
Separately, Viva Biotech secured $60 million in convertible bond financing.
About Viva Biotech
Viva Biotech provides one-stop drug R&D and manufacturing services to global biopharma innovators.
Its business spans early-stage discovery through commercialization across small-molecule drugs and biologics.
How will the funds be used?
Chairman and CEO Dr. Cheney Mao said the new funding will reinvigorate Viva’s growth plans as it continues improving its technology platforms and leveraging its expertise in pioneering novel therapies.
The seasoned investor Temasek said its investment aligns with its healthcare and life sciences focus in China.
Viva Biotech plans to maintain its unique, comprehensive offering across the drug development spectrum.
With extensive experience in First-in-Class therapeutics and integrated CMC capabilities via its Langhua Pharma subsidiary, Viva aims to enable biopharma to deliver new treatments to patients worldwide.
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