22 September 2020 | News
Enters a Strategic Acquisition Agreement with SYNthesis
Image credit- shutterstock.com
Viva Biotech (Shanghai) Co., Ltd. has 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, at the consideration of approximately $ 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.