|Thursday, 19 December 2019, 08:40 HKT/SGT|
HONG KONG, Dec 19, 2019 - (ACN Newswire) - Viva Biotech Holdings ("Viva Biotech" or the "Company"; stock code: 1873.HK), the world leading operator of a structure-based drug discovery (SBDD) platform, is included as a constituent stock of the Hang Seng Hong Kong-Listed Biotech Index.
On 16 Dec 2019, Hang Seng Indexes Company Limited ("Hang Seng Indexes") launched the Hang Seng Hong Kong-Listed Biotech Index, which reflects the overall performance of biotech companies that are listed in Hong Kong. Universe of the selection includes all securities listed on the Main Board of the Stock Exchange of Hong Kong (including companies listed via Chapter 18A of the Listing Rules) and classified as 'Biotechnology', 'Pharmaceuticals', or 'Medical Devices' under the Hang Seng Industry Classification System. The selection criteria are securities ranking in the top 95% of the Universe in terms of 12-month-end average market value with 3-month average daily turnover of at least HKD 5 million.
The launching of the four new indexes, including the Hang Seng Hong Kong-Listed Biotech Index, demonstrates the wide acceptance of biotechnology industry in Hong Kong capital market. The inclusion is considered as the recognition of overall performance of Viva Biotech since its listing in May 2019. It is believed that it will further improve the company reputation among international capital markets.
About Viva Biotech Holdings
Viva Biotech's mission is to become a cradle for innovative biotechnology companies around the world. Viva Biotech has developed a scalable business model combing the conventional cash-for-service (CFS) model and its unique equity-for-service (EFS) model. Under the CFS model, the Group provides structure-based drug discovery services to its biotechnology and pharmaceutical customers worldwide for their pre-clinical stage innovative drug development, covering the full spectrum of the customers' needs for early stage drug discovery, including target protein expression and structure research, hit screening, lead optimization and drug candidate determination. Viva Biotech also provides drug discovery and incubation services to biotechnology start-up companies with high potential under its EFS model. As of June 30, 2019, Viva Biotech had provided drug discovery services to 388 biotechnology and pharmaceutical customers worldwide, worked on over 1,000 independent drug targets, delivered over 11,000 independent protein structures, and incubated a total of 37 early stage R&D projects.
Topic: Press release summary
Sectors: Daily Finance, Daily News, BioTech
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