Clover Biopharmaceuticals, Ltd. announced that the Company completes the Biologic License Application (the "BLA") submission for its seasonal influenza vaccine (AdimFlu-S) to the Brazilian Health Regulatory Agency. Upon approval, the Company will work with its local partner to commercialize the product in Brazil. If approved in Brazil, the Company's seasonal influenza vaccine would have access to the southern hemisphere market, enabling annual sales in the first half of the year to supplement sales in the second half of the year in northern hemisphere markets such as China, while also better utilizing Adimmune Corporation's production capacity year-round.

Brazil is an important vaccine market strategically, as the country has the world's second largest seasonal influenza vaccine market, with total local market size expected to surpass USD 1 billion over the next five years, according to GlobalData.