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.


Related news
A new SARS-CoV-2 experimental vaccine entrant in Latin America was announced last week when Colombia’s National Food and Drug Surveillance Institute (INVIMA) authorized Clover Biopharmaceuticals Australia, the wholly-owned subsidiary of China-based Clover Biopharmaceuticals, to conduct a Phase II/III clinical trial (CT) for its SCB-2019.
Chinese biotech Clover Biopharmaceuticals provided positive data from a Phase I clinical trial for its COVID-19 vaccine candidates.
Chinese biotech Clover Biopharmaceuticals Inc., struck a partnership with compatriot firm Thousand Oaks Biopharmaceuticals Co., Ltd, a contract development and manufacturing organization (CDMO), in relation to Clover’s COVID-19 S-Trimer subunit vaccine candidate (SCB-2019).
The Coalition for Epidemic Preparedness Innovations (CEPI) is following up on earlier support for Chinese biotech Clover Biopharmaceuticals Inc’s COVID-19 vaccine development efforts with another grant of USD 328 million, following the initial doses in April and July of this year.
The World Health Organization (WHO) provided an update on the COVAX initiative, the vaccines pillar of the Access to COVID-19 Tools (ACT) Accelerator, which is co-led by the Coalition for Epidemic Preparedness Innovations (CEPI), Gavi, the Vaccine Alliance, and the World Health Organization (WHO).
  • 1598334301832
  • Colombia,Mexico,Guatemala,Dominican Republic,Chile,Puerto Rico ,Nicaragua,Guyana,Brazil,Cuba,Belize,Argentina,Paraguay,Ecuador ,Costa Rica,Peru,El Salvador,Panama,Haiti,Uruguay,Venezuela,Bolivia ,Honduras,China,United States
  • Policy/Regulatory
Recent news
Brazil’s Ministry of Health (MoH) last week signed a contract with local pharmaceutical company Precisa Medicamentos for the purchase of 20 million doses of Indian partner Bharat Biotech’s SARS-CoV-2 vaccine Covaxin, totalling BRL 1.6 billion (USD 288 million).
Argentina’s Ministry of Health (MoH) last week launched two direct drug purchases aimed at procuring contraceptives from Bayer.
Mexico-based pharmaceutical firm Genomma Lab last week released 2020 financials, reporting MXN 13.9 billion (USD 670 million) turnover after 9.1% year-on-year (YOY) growth, and flaunting minor negative impact of the COVID-19 pandemic.
  • 1614588392046
  • Argentina,Brazil,Colombia,Chile,Puerto Rico ,Costa Rica,Panama,Peru,Paraguay,Uruguay,Ecuador ,Bolivia ,Mexico,Guatemala,Honduras,El Salvador,Belize,Nicaragua
  • Company
Argentine pharmaceutical company Richmond last week signed a memorandum of understanding (MoU) with the Russian Direct Investment Fund (RDIF) for the local manufacturing of the latter’s SARS-CoV-2 vaccine Sputnik V, which was rolled out in the country in December last year.
China's Center for Drug Evaluation (CDE) website indicates that FutureGen Biopharma’s M108, a claudin 18.2 (CLDN18.2) targeted monoclonal antibody (mAb), has passed the clinical trial approval process and will be assessed in general advanced solid tumors.
German giant Bayer HealthCare entered into a memorandum of understanding with the China Alliance of Rare Diseases (CARD).
Beijing-based DaWei Biotechnology, a microfluidic technology driven molecular diagnostics specialist, struck a partnership with leading domestic in vitro diagnostics company Maccura Biotechnology Co., Ltd (300463.SZ) on next-generation molecular diagnostics technologies.
Analytics Snapshot