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| Monday, 24 February 2020, 07:32 HKT/SGT | |
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HONG KONG, Feb 24, 2020 - (ACN Newswire) - After the market closed on 21 February 2020, Hang Seng Indexes Company Limited announced the results of its review of the Hang Seng Family of Indexes for the quarter ended 31 December 2019. Viva Biotech Holdings ("Viva Biotech" or the "Company"; stock code: 1873.HK), the world leading operator of a structure-based drug discovery (SBDD) platform, was included as a constituent stock of seven indexes, namely Hang Seng Composite Index, Hang Seng Healthcare Index, Hang Seng Stock Connect Hong Kong Index, Hang Seng Stock Connect Hong Kong MidCap & SmallCap Index, Hang Seng Stock Connect Hong Kong SmallCap Index, Hang Seng SCHK HK Companies Index and Hang Seng SCHK ex-AH Companies Index. The constituent changes will be made to the Hang Seng Family of Indexes with effect from 9 March 2020. Included in the Hang Seng Composite Index also means that Viva Biotech will be selected as an eligible stock of the China-Hong Kong Stock Connect in accordance with the selection requirements of the Shenzhen-Hong Kong Stock Connect.
The biopharmaceutical sector in recent years has been gaining extensive attention from domestic and foreign investors. The inclusion of Viva Biotech as a constituent stock of Hang Seng Composite Index, Hang Seng Stock Connect Hong Kong Index and Hang Seng Healthcare Index and other important indicatable indexes in the Hong Kong capital market was another milestone after being included in the Hang Seng Hong Kong-Listed Biotech Index in December 2019. It reflects the full recognition of Viva Biotech's overall performance in the capital market and its great influence in the healthcare industry, which will further help to enhance the awareness of the Company among domestic and foreign investors.
Hang Seng Indexes Company Limited conducts quarterly review of the constituents in the Hang Seng Family of Indexes. A total of 22 stocks will be added and 26 will be removed in this quarterly review of Hang Seng Composite Index, and the total number of constituents will decrease from 480 to 476.
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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