Sinovac’s $15 Million Financing


Houlihan Lokey served as financial advisor, and Han Kun Law Offices and Latham & Watkins LLP served as legal advisors to Sinovac in the transaction.

Sinovac Biotech Ltd. (NASDAQ: SVA), a leading provider of biopharmaceutical products in China, have announced a transaction in which Advantech Capital and Vivo Capital have invested $15 million in Sinovac Research and Development Co., Ltd. (Sinovac R&D), a wholly owned subsidiary of Sinovac, to further the development of an inactivated vaccine against COVID-19 named CoronaVac.

The two investors each loaned USD $7.5 million in the form of a convertible loan that bears interest, or, at the investor’s election, converts into 7.5% of the total equity interest of Sinovac R&D.

Latham & Watkins LLP represented Sinovac in the transaction with a corporate deal team led by Chicago partners Bradley Faris (Picture) and Christopher Drewry and Hong Kong counsel Zheng Wang, with Chicago associate Joyce Li.

Involved fees earner: Christopher Drewry – Latham & Watkins; Bradley Faris – Latham & Watkins; Joyce Li – Latham & Watkins; Zheng Wang – Latham & Watkins;

Law Firms: Latham & Watkins;

Clients: Sinovac Biotech;

Author: Ambrogio Visconti