Viva Biotech has reportedly signed a Share Purchase Agreement for the purpose of buying 100 per cent equity interest in Hong Kong based SYNthesis Limited for an approximate sum of US$ 80 million. The collaboration will achieve cooperation between SYNthesis and Viva Biotech regarding Viva’s CRO business at the global level. The agreement is of great strategic importance for the conduction of vertical integration and the establishment of an inclusive one-stop drug services platform by Viva Biotech.
Dr. Xianyong Bu, the Managing Director at SYNthesis, has stated that the company is excited to have its team at SYNthesis become part of the Viva family. He has further stated that the company’s preclinical small molecule pharmaceutical chemistry platform will be organically integrated with the structure-based bioassay and drug discovery platforms of Viva Biotech, in turn delivering inclusive preclinical R&D services for more and more customers. Together the two companies will become a force that could be reckoned with in the high-end medical chemistry space, added Bu.
According to Chen Cheny Mao, the Chairman and CEO of Viva Biotech, the company is thrilled to have secured the strategic acquisition agreement with SYNthesis. He has further stated that SYNthesis’s international team and technical platform in the field of synthetic chemistry and pharmaceutical chemistry will quickly strengthen the capacities of Viva Biotech from initial drug discovery service to its drug research and development downstream business.
The agreement will also boost the company’s downstream collaboration to CDMO and CMC sectors, stated Mao adding that Viva Biotech and SYNthesis will develop a good complementarity further widening the diversity of its clientele. Viva Biotech will be consistently committed to the provision of more clients and portfolio companies having a higher quality of the full stage service of innovations in drug research and development, added Mao.
For the uninitiated, Viva Biotech functions as a globally-leading structure-based and integrated drug discovery platform that offers structure-based drug discovery services for an extensive base of pharmaceutical and biotechnology clientele at the global level.