Viva Biotech, a Shanghai CRO that includes partnering as part of its business plan, will seek to raise $194 million in a Hong Kong IPO that values the company at $750 million. Viva is a structure-based, integrated drug discovery CRO. For selected clients, Viva offers a Equity for Services model that provides clients about $1.5 million in either cash or services in return for equity. Viva expects to hold half the equity for about 2.5 years and the rest for 5.5 years. So far, it has earned returns of between 200% and 500% on five closed investments.
Source: China Biotoday
