Temasek and HighLight Capital to acquire a 24% stake in a Shanghai unit of VIVA Biotech for $149m.

Temasek, a Singaporean state-owned conglomerate, and HighLight Capital, a Chinese investment firm, agreed to acquire a 24% stake in a Shanghai unit of VIVA Biotech, a highly specialized contract research organization, for $149m. "It is our great honor to introduce renowned strategic investors who will furnish and enhance our key strategic decisions and long-term investment and financing plans. Despite the recession in investment and financing, we are able to secure investment from established institutions, by virtue of our pioneering spirit and continuous innovation in the past. This demonstrates the market's recognition of our business foundation and confidence in our development prospect. Furthermore, the commitment to our goal of A-shares listing and the valuation premium from A-shares compared to HK stock market will facilitate the financing needs for our future development. in addition, our plan to increase executive share ownership and provide Employee Stock Ownership Plan to the core team members will revitalize Viva and open up new opportunities for our long-term growth," Cheney Mao, Viva Biotech Chairman and CEO.