According to Zhitong Finance App, Clover Bio-B (02197) announced annual results for the year ended December 31, 2023, with revenue of 39.255 million yuan (RMB 39.255 million, same below); other revenue and revenue of RMB 2,571 million, up about 10961.5% year on year; R&D expenses of 650 million yuan; loss of 139 million yuan during the year, narrowing by 94.35% year on year; adjusted loss of 85.24 million yuan, a year-on-year narrowing of 96.39%.

According to reports, the sharp year-on-year increase in other revenue and revenue was mainly due to the fact that the 2,541 million yuan of funding received from the Coalition for Epidemic Prevention Innovation (CEPI) was confirmed as other revenue based on the conditions attached to 2023 being met. The year-on-year narrowing of losses during the year was mainly due to a reduction of more than 50% in CEPI funding and R&D and administrative expenses recognized as other revenue, partially offset by accrued inventory provisions.

Clover Biotech is a commercialized global biopharmaceutical company dedicated to saving lives and improving global health with innovative vaccines. With comprehensive R&D capabilities, production and commercialization capabilities, and strong partnerships with relevant institutions distributed around the world, the company has developed a diverse pipeline of vaccine candidates, hoping that the company's vaccines can prevent more diseases and help reduce the burden on public health.

Verified by the successful development of the COVID-19 vaccine SCB-2019 (CpG1018/aluminum adjuvant) and currently being used in the development of the RSV candidate vaccine SCB-1019, the Trimer-Tag technology platform is a product development platform for developing recombinant protein vaccines based on targets that naturally rely on trimerization. The Trimer-Tag technology platform can trimerize any target protein into a covalent trimerization structure. The trimerization motif of Trimer-Tag is based on a human amino acid sequence (type I procollagenin C-terminal domain). Trimer-Tag is currently the only trimerization technology platform in the world that uses human trimeric labels to produce recombinant covalent trimerized fusion proteins (trimeric label proteins).

During the reporting period, the company achieved several important milestones in R&D, production and commercialization. At the beginning of 2023, the company and Guoguang Biotech reached an exclusive agreement to distribute the quadrivalent influenza virus vaccine AdiMflu-S (QIS) in mainland China, demonstrating its comprehensive business development and commercialization capabilities as a leading vaccine company in the region. After announcing the updated pipeline strategy, the company invested resources in the development of respiratory syncytial virus vaccine candidates using the proven Trimer-Tag platform, and successfully completed the enrollment of the first batch of subjects for the Phase I clinical study conducted in Australia.