Clover Biopharmaceuticals, Ltd. announced that the Company has established a commercial partnership with Keyuan Xinhai (Beijing) Medical Products Trading Co. Ltd. as the Company prepares for the commercial launch of AdimFlu-S (QIS), the only imported quadrivalent seasonal influenza vaccine approved for use in individuals aged three years and older in China. The Company expects to launch AdimFlu-S ("QIS") in the second half of 2023.

This partnership with Kyuan Trade will support the Company's execution of its commercial strategy for AdimFlu-S. Kyuan Trade's extensive distribution network spans 31 provinces, municipalities and autonomous regions and more than 2,000 district and county centers for disease control. Kyuan Trade will complement the Company's established and growing commercial capabilities to maximize access across China. The market for the seasonal influenza vaccine in China has been growing by approximately 30% annually and is expected to continue growing in the post-pandemic era with increasing vaccine awareness and favorable government policies.

Moreover, demand in China continues to shift from trivalent to quadrivalent seasonal influenza vaccines options, which accounted for the majority of doses (70%) in 2022. The Company anticipates that sales from AdimFlu-S(QIS) will be accretive to the Company's earnings in 2023 and contribute meaningfully to growth in 2024 and beyond.