Clover Biopharmaceuticals is developing vaccines targeting SARS-CoV-2, including approaches intended to be broadly protective against variant strains. The company has been developing a vaccine that uses an immune response‑boosting ingredient supplied by U.S.-based Dynavax Technologies. Proceeds from the latest fundraising will be used to advance vaccines for COVID-19 variants, develop vaccines for other diseases, and pursue cancer therapies. Clover plans to start mid- to late-stage clinical trials in the first half of 2021 and has started production planning for potentially hundreds of millions of doses this year. Its global trial is backed by the non-profit Coalition for Epidemic Preparedness Innovations (CEPI). Financially, the latest raise contributes to more than $400 million in capital secured by the company over the past 12 months. Clover Biopharmaceuticals is a global, clinical-stage, research-based biotechnology company focused on discovering, developing and commercializing transformative biologic therapies. The company is the innovator of Trimer-Tag, a drug development platform that enables production of covalently-trimerized fusion proteins to target trimerization-dependent pathways such as the TNF superfamily and enveloped RNA virus antigens. Clover is developing recombinant trimerized fusion proteins with applications in oncology, autoimmune diseases and viral vaccines. The company leverages in-house GMP biomanufacturing capabilities to support large-scale production of its biologic therapies. Clover has raised more than US$140 million in total capital since 2016 and is operating as a clinical-stage developer. The recent financing is intended to expand internal R&D capabilities and build a world-class team. Clover Biopharmaceuticals is a global, clinical-stage biotechnology company focused on discovering, developing and commercializing transformative biologic therapies, with emphasis on oncology and autoimmune diseases. The company utilizes its proprietary Trimer-Tag platform to produce covalently-trimerized fusion proteins and is also developing select biosimilars. Clover operates a new commercial-scale cGMP biomanufacturing facility and plans to use proceeds to support clinical development, facility operations, and expansion of its preclinical R&D pipeline. Lead programs include SCB-313, a TRAIL-Trimer fusion protein that has initiated multiple Phase I trials in Australia and China, and SCB-808, a proposed etanercept biosimilar expected to enter Phase III testing in 2019. The company has completed a 35,000 m2 cGMP facility with initial 2 x 2,000 L bioreactor capacity to support clinical and future commercial production. Since 2016 Clover has raised over US$100 million in total capital. Clover Biopharmaceuticals is a research-based, clinical-stage biotech focused on discovering and developing transformative biologic therapies for oncology and autoimmune diseases using its proprietary Trimer-Tag© platform. The company produces covalently trimerized fusion proteins aimed at trimerization-dependent targets and is also developing select biosimilars leveraging in-house cGMP biomanufacturing capabilities. Clover plans to advance two candidates into human clinical trials in 2018: SCB-313 (a TRAIL-Trimer fusion protein) with a Phase I oncology trial expected in Australia, and SCB-808 (a proposed etanercept biosimilar) planned for clinical testing in China. Management said the proceeds will support continued development across its pipeline and enable strategic hires in clinical development, biomanufacturing and early R&D. Financially, the company reported RMB 84.3 million (approximately US$12.7 million) in total cash proceeds received in 2017 when combining the Series A financing with nondilutive funding sources.

Total raised

$307M

Funding rounds

4

Latest round

Series C

Latest activity

Feb 2021