PUBLISHED ONJanuary 05, 2022 4:34 AM
CHENGDU, China, Jan. 05, 2022 (GLOBE NEWSWIRE) -- Clover Biopharmaceuticals, Ltd. (Clover; HKEX: 02197), a global clinical-stage biotechnology company developing novel vaccines and biologic therapeutic candidates, announced today it has started construction on a new R&D Center in Zhangjiang Biotech and Pharmaceutical Industrial Base, dubbed "Zhangjiang Pharma Valley", located in Zhangjiang Hi-Tech Park in Pudong, Shanghai. The Zhangjiang Pharma Valley is one of the top biotech hubs in China and is home to over 1,000 innovative biotechnology and biopharmaceutical companies.
Clover has access to over 25,000 square meters in real estate to build a state-of-the-art facility that is expected to include new preclinical research laboratory facilities, manufacturing process development labs, and a GMP pilot manufacturing plant. Construction of the R&D facilities is expected to be completed in the second quarter of 2022 and the entire R&D Center is planned to be completed in the second half of 2022. Clover intends to recruit hundreds of new hires from the area’s deep talent pool to supplement Clover’s existing R&D capabilities and accelerate the development of multiple new product candidates.
Joshua Liang, Chief Executive Officer of Clover Biopharmaceuticals said, “Establishing a new R&D Center in Shanghai will allow us to expand our R&D capabilities and accelerate our innovative pipeline. In the future, we plan to establish additional R&D centers around the world as we advance the discovery and development of new innovative product candidates.”
The groundbreaking ceremony was attended by numerous partners and guests, including representatives from the Shanghai Municipal Commission of Economic and Information Technology, the Shanghai Pudong New Area Government and the Shanghai Zhangjiang Science City Administration.
About Clover Biopharmaceuticals
Clover Biopharmaceuticals is a global clinical-stage biotechnology company committed to developing novel vaccines and biologic therapeutic candidates. The Trimer-Tag™ technology platform is a product development platform for the creation of novel vaccines and biologic therapies. Clover leveraged the Trimer-Tag™ technology platform to become a COVID-19 vaccine developer and created SCB-2019 (CpG 1018/Alum) to address the COVID-19 pandemic caused by SARS-CoV-2.
For more information, please visit our website: www.cloverbiopharma.com and follow the company on LinkedIn.
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 in this [document], 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, and it is not possible for us to predict all of them. Participant to the requirements of applicable laws, rules and regulations, we undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. All forward-looking statements contained in this document are qualified by reference to this cautionary statement.
Clover Biopharmaceuticals:
Cindy Min
SVP, Public Affairs
media@cloverbiopharma.com
Naomi Eichenbaum
VP, Investor Relations
investors@cloverbiopharma.com
