Sinovac Biotech Ltd., of Beijing, reported it completed an $86.73 million private placement of its common shares with Vivo Capital and Advantech Capital, which both received a total of 5.9 million common shares for $7.35 per share. The proceeds will be used to increase the company's capabilities in research relating to quality control and to build additional production facilities to support the development and commercialization of sIPV-based combination vaccine and other new vaccine projects.