VMS AM-backed SPAC Vivere Lifesciences Filed for IPO
VMS is pleased to announce that Vivere Lifesciences Acquisition Corp. (“Company” or “Vivere Lifesciences”) has filed for listing on the Hong Kong Stock Exchange on 21 February 2022. It is a special-purpose acquisition company (SPAC) backed by VMS Asset Management and I-Mab (Nasdaq: IMAB) as its key promoters.
VMS AM and I-Mab have established a close working relationship with each other since I-Mab’s pre-IPO financing in 2019 with VMS as the lead investor. Headquartered in Shanghai, I-Mab is a clinical stage biopharmaceutical company committed to the discovery, development and commercialisation of novel or highly differentiated biologics to treat diseases with significant unmet medical needs, particularly cancers and autoimmune disorders.
The promoters will be able to draw on the combined institutional knowledge and financial, transactional and operational experience across the entire healthcare value-chain to help prospective de-SPAC targets pursue their ambition by offering them capital and strategic support. The Company intends to focus on identifying de-SPAC targets in the healthcare industry in China or other global opportunities with a significant China angle. More specifically, it will aim for targets in areas including biotechnology, diagnostics, therapeutic devices, novel platform and healthcare-related technologies, synthetic biology and CXOs, which exhibit innovative characteristics and can realise synergistic values benefiting from the Company’s ecosystem.
Benny Chong, Chairman & Founder of VMS Group, commented: “Vivere Lifesciences’s proposed listing is a significant milestone for us as we continue our efforts to foster innovation and create values in the market. We have assembled an impressive management team and advisory board with complementary skills, industry networks and experience, that are well placed to make Vivere Lifesciences an attractive proposition for target companies. We are pleased to be one of the early participants to embrace this innovative alternative route to access Hong Kong’s capital markets, and look forward to bringing more attractive financial solutions to our investors.”
Andrew Ng, Head of Healthcare of VMS Group and CEO of Vivere Lifesciences, also commented: “With the promoters’ extensive industry network and resources, we are confident in identifying the most appealing de-SPAC targets for acquisitions. This SPAC listing will offer us a gateway into a wider ecosystem of healthcare innovators, and enable us to get closer towards our higher purposes of fueling innovation at scale, positively transforming the industry, and thereby benefiting the wider society and day-to-day lives of people across the globe.”
Vivere Lifesciences is the second healthcare-specific SPAC to file for listing in Hong Kong under the new SPAC listing regime. This new listing regime enables experienced and reputable SPAC promoters to source acquisition targets from emerging and innovative industries, helping fuel the growth of the companies of tomorrow.