Latham & Watkins Advises Sinovac in Securing Approximately US$500 Million in Funding for COVID-19 Vaccine Development

Sinovac Biotech Ltd. (Sinovac), a leading provider of biopharmaceutical products in China, has announced that Sinovac Life Sciences Co., Ltd. (Sinovac LS), a subsidiary of Sinovac, has secured approximately US$500 million in funding for further development, capacity expansion, and manufacturing of the CoronaVac, its COVID-19 vaccine candidate, as well as conduct other development and operational activities. The investor, Sino Biopharmaceutical Limited, a leading innovative research and development driven pharmaceutical conglomerate in China, through affiliates, has invested approximately US$500 million in exchange for approximately 15% of the total equity interest of Sinovac LS. 

Latham & Watkins LLP represents Sinovac Biotech Ltd. in the transaction with a corporate deal team led by Chicago partner Christopher Drewry and Hong Kong partner Benjamin Su, with Hong Kong counsel Zheng Wang and Chicago associate Joyce Li.