Clover Bio’s vaccines backed with USD 230m in Series C funding



Chinese biotech Clover Biopharmaceuticals announced the completion of an over-subscribed Series C financing round at USD 230 million. GL Ventures and Temasek led the funding, which included contributions from Oceanpine Capital, OrbiMed Advisors, and existing investor Delos Capital. Proceeds will be used to develop and expand the company’s product pipeline based on its unique and proprietary Trimer-Tag technology platform, including recombinant protein vaccines and tumor biological therapies. The company has amassed a USD 400 million plus war chest over the past 12 months.

Clover Bio plans to initiate a global Phase II/III efficacy study for its SCB-2019, a recombinant trimeric SARS-CoV-2 spike protein subunit vaccine, as well as vaccine manufacturing, expected to churn out “hundreds of millions” of jabs within this year. In addition, the company is also developing a new multivalent coronavirus (covering a variety of new coronavirus variants), rabies, and influenza vaccine. SCB-313, a novel TRAIL-trimer fusion protein targeting intraluminal malignant tumors (including malignant ascites), is subject to multiple Phase I clinical studies in Australia and China, with data available to date signaling positive efficacy and safety. In addition, Clover Bio, resolved to ramp up research and development and current Good Manufacturing Practice attuned biologics manufacturing capacities, expects to advance multiple drug candidates into clinical stage this year.

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