Clover Biopharmaceuticals Ltd.

International vaccine organization Gavi has discontinued a COVID vaccine partnership with China's Clover Biopharmaceuticals and is asking for repayment of $224 million. Last year, Novavax reached a settlement with Gavi, the Vaccine Alliance, after the international partnership demanded repayment following the termination of an advance purchase agreement for COVID-19 vaccines.Thirteen months later, Gavi may be on its way to a similar skirmish with China’s Clover Biopharmaceuticals after discontinuing another purchase agreement surrounding COVID shots.In a regulatory filing, the Shanghai-based company said that Gavi has sent notice of the termination of their vaccine deal and is demanding that the company return an advance payment of $224 million. “The Company rejects such claim for a repayment, believing it is without merit based on the terms of the Advance Purchase Agreement, and will defend itself vigorously,” Clover wrote, adding that it was not aware of any associated legal claims.Gavi did not respond immediately to a request for comment. In June of 2021, Clover and Gavi signed on to their partnership, with the company agreeing to provide up to 414 million doses of SCB-2019, its protein-based COVID shot, through 2022. But like Novavax, Clover struggled to meet regulatory targets in developing its vaccine.If Gavi succeeds in its latest demand, Clover may not have enough cash to pay the organization back. The biotech is struggling financially. In its most recent earnings release, after the first half of 2024, the company reported negative revenue. Its cash and cash equivalents had shrunk from 1.8 billion Chinese yuan ($248 million) at the end of 2022 to 830 million Chinese yuan ($114 million).  With the COVID shot now a dud, Clover is banking its future on a respiratory syncytial virus (RSV) vaccine candidate coded SCB-1019. The company also revealed on Monday that the FDA has cleared its application to start an in-human clinical trial of the non-adjuvanted bivalent RSV vaccine.The company added that it has enrolled the first participants in a phase 1 revaccination trial of the prefusion-stabilized F (PreF)-Trimer subunit shot. Results from another phase 1 trial last year indicated that SCB-1019 is a potential best-in-class vaccine compared to GSK’s Arexvy, Clover said.

— U.S. IND clearance and revaccination trial initiation supports the differentiated global opportunity for Clover’s RSV PreF vaccine (SCB-1019) utilizing validated Trimer-Tag platform — — Evaluation of SCB-1019 as part of a respiratory combination Trimer-Tagged PreF vaccine (RSV + hMPV ± PIV3) is also on track for clinical trial initiation in 2025 — SHANGHAI, China I March 23, 2025 I Clover Biopharmaceuticals, Ltd. (Clover; HKEX: 02197), a global commercial-stage biotechnology company committed to unleashing the power of innovative vaccines to save lives and improve health around the world, today announced IND clearance by U.S. FDA and that enrollment of the first participants has been completed in a Phase I revaccination clinical trial evaluating SCB-1019 – the company’s non-adjuvanted bivalent RSV prefusion-stabilized F (PreF)-Trimer subunit vaccine candidate based on Clover’s Trimer-Tag vaccine technology platform. “We are pleased to announce the U.S. IND clearance and revaccination clinical trial initiation, which supports the differentiated global opportunity of Clover’s RSV PreF vaccine (SCB-1019) utilizing our validated Trimer-Tag platform,” said Joshua Liang, Chief Executive Officer & Board Director of Clover. “While currently approved protein-based RSV vaccines are safe & effective when given as an initial dose, critical gaps persist globally: (1) suboptimal boostability for revaccination when protection against RSV disease wanes, and (2) inability to prevent respiratory disease caused by other viruses related to RSV such as hMPV and PIV3. Thus, we look forward to the clinical trial results for SCB-1019 in an RSV re-vaccination setting and as part of a respiratory combination vaccine (RSV + hMPV ± PIV3).” In October 2024, Clover announced Phase I results in 70 older adults (60-85 years) who were RSV vaccine-naïve, and results indicated a potential best-in-class combined immunogenicity & tolerability profile of non-adjuvanted SCB-1019 compared head-to-head to GSK’s AS01 E -adjuvanted RSV vaccine (AREXVY). The ongoing Phase I revaccination trial in the U.S. is enrolling up to 160 older adults (60-85 years) who previously received an initial dose of GSK’s RSV vaccine (AREXVY) at least 2 seasons prior, and participants will be randomized to receive either a heterologous revaccination dose of SCB-1019, a homologous AREXVY revaccination dose or saline placebo. The study will assess safety, reactogenicity and immunogenicity. Furthermore, evaluation of SCB-1019 as part of a respiratory combination Trimer-Tagged PreF vaccine (RSV + hMPV ± PIV3) is also on track for Phase I clinical trial initiation in 2025. About Clover Clover Biopharmaceuticals is a global commercial-stage biotechnology company committed to unleashing the power of innovative vaccines to save lives and improve health around the world. With integrated research and development, manufacturing and commercial capabilities as well as strong partnerships with organizations globally, Clover has a diverse pipeline of candidates that have the potential to meaningfully reduce the burden of vaccine-preventable diseases—and to make more diseases preventable. SOURCE: Clover Biopharma

-- U.S. IND clearance and revaccination trial initiation supports the differentiated global opportunity for Clover's RSV PreF vaccine (SCB-1019) utilizing validated Trimer-Tag platform -- -- Evaluation of SCB-1019 as part of a respiratory combination Trimer-Tagged PreF vaccine (RSV + hMPV ± PIV3) is also on track for clinical trial initiation in 2025 -- SHANGHAI, March 23, 2025 /PRNewswire/ -- Clover Biopharmaceuticals, Ltd. (Clover; HKEX: 02197), a global commercial-stage biotechnology company committed to unleashing the power of innovative vaccines to save lives and improve health around the world, today announced IND clearance by U.S. FDA and that enrollment of the first participants has been completed in a Phase I revaccination clinical trial evaluating SCB-1019 – the company's non-adjuvanted bivalent RSV prefusion-stabilized F (PreF)-Trimer subunit vaccine candidate based on Clover's Trimer-Tag vaccine technology platform. "We are pleased to announce the U.S. IND clearance and revaccination clinical trial initiation, which supports the differentiated global opportunity of Clover's RSV PreF vaccine (SCB-1019) utilizing our validated Trimer-Tag platform," said Joshua Liang, Chief Executive Officer & Board Director of Clover. "While currently approved protein-based RSV vaccines are safe & effective when given as an initial dose, critical gaps persist globally: (1) suboptimal boostability for revaccination when protection against RSV disease wanes, and (2) inability to prevent respiratory disease caused by other viruses related to RSV such as hMPV and PIV3. Thus, we look forward to the clinical trial results for SCB-1019 in an RSV re-vaccination setting and as part of a respiratory combination vaccine (RSV + hMPV ± PIV3)." In October 2024, Clover announced Phase I results in 70 older adults (60-85 years) who were RSV vaccine-naïve, and results indicated a potential best-in-class combined immunogenicity & tolerability profile of non-adjuvanted SCB-1019 compared head-to-head to GSK's AS01E-adjuvanted RSV vaccine (AREXVY). The ongoing Phase I revaccination trial in the U.S. is enrolling up to 160 older adults (60-85 years) who previously received an initial dose of GSK's RSV vaccine (AREXVY) at least 2 seasons prior, and participants will be randomized to receive either a heterologous revaccination dose of SCB-1019, a homologous AREXVY revaccination dose or saline placebo. The study will assess safety, reactogenicity and immunogenicity. Furthermore, evaluation of SCB-1019 as part of a respiratory combination Trimer-Tagged PreF vaccine (RSV + hMPV ± PIV3) is also on track for Phase I clinical trial initiation in 2025. About Clover Clover Biopharmaceuticals is a global commercial-stage biotechnology company committed to unleashing the power of innovative vaccines to save lives and improve health around the world. With integrated research and development, manufacturing and commercial capabilities as well as strong partnerships with organizations globally, Clover has a diverse pipeline of candidates that have the potential to meaningfully reduce the burden of vaccine-preventable diseases—and to make more diseases preventable.  Clover Forward-looking Statements This press release contains certain forward-looking statements and information relating to us and our subsidiaries that are based on the beliefs of our management as well as assumptions made by and information currently available to our management. When used, the words "aim," "anticipate," "believe," "could," "estimate," "expect," "going forward," "intend," "may," "might," "ought to," "plan," "potential," "predict," "project," "seek," "should," "will," "would" and the negative of these words and other similar expressions, as they relate to us or our management, are intended to identify forward-looking statements. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. We give no assurance that these expectations and assumptions will prove to have been correct. Because forward-looking statements relate to the future, they are participant to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our results may differ materially from those contemplated by the forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. We caution you therefore against placing undue reliance on any of these forward-looking statements. Any forward-looking statement made by us in this document speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time. Clover Biopharmaceuticals: Corporate Communications: Lola Cao [email protected] Investor Relations: Michael Tu [email protected] SOURCE Clover Biopharma WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In GET STARTED