Clover Biopharmaceuticals Completes Enrollment of Adult and Elderly Population in SPECTRA Global Phase 2/3 Clinical Trial for its COVID-19 Vaccine Candidate

SPECTRA enrolled over 29,000 adult and elderly participants across four continents achieving high ethnic diversity and robust dataset of circulating strains

Release of vaccine efficacy data anticipated in Q3 2021 and will include sequencing data of SARS-CoV-2 variants of concern and variants of interest

Adolescent subgroup has initiated enrollment and expect to complete enrollment in Q3 2021

CHENGDU,China,July 6,2021 -- Clover Biopharmaceuticals (Clover),a global clinical-stage biotechnology company developing novel vaccines and biologic therapeutic candidates to address the world's most life-threatening diseases and public health threats,today announcedthe completion of targeted enrollment of adult and elderly participants inSPECTRA (Study Evaluating Protective-Efficacy and Safety of Clover's Trimeric Recombinant Protein-based and Adjuvanted COVID-19 Vaccine),a global pivotal Phase 2/3 clinical trial evaluating the efficacy,safety and immunogenicity of SCB-2019 (CpG 1018/Alum),Clover's COVID-19 vaccine candidate.

SPECTRA is a double-blind,randomized,controlled study of SCB-2019 (CpG 1018/Alum) administered in a two-dose regimen,21 days apart. Global enrollment surpassed 29,000 adult and elderly participants resulting in one of the most ethnically diverse COVID-19 clinical trials conducted to date,including over 45% of participants from Asia,45% from Latin America and the remainder from Europe and Africa. Given the geographic diversity of SPECTRA,Clover expects to announce a robust dataset in Q3 2021 including an analysis of efficacy across the major currently circulating strains of SARS-CoV-2 (including variants of concern and variants of interest).

Pending positive data from SPECTRA,Clover plans to submit conditional regulatory approval applications to the NMPA,the EMA and WHO thereafter. Clover continues to plan to commence product launch of SCB-2019 (CpG 1018/Alum) by the end of 2021 and recently signed an advance purchase agreement with Gavicommitting up to 414 million doses to the COVAX Facility. Clover also expects to supply doses to countries directly via government procurement and/or bilateral supply agreements.

"SPECTRA is the result of unprecedented cross-border collaboration across four continentsandwe extend our deepest gratitude to all of the participants,the investigators and our partners for their ongoing support in achieving this momentous event," stated Joshua Liang,Chief Executive Officer of Clover Biopharmaceuticals. "COVID-19 continues to impact many countries,and vaccine shortages continue to be a global challenge. We remain committed to the completion of SPECTRA,engaging with regulators,and making our COVID-19 vaccine candidate available to populations in need around the world."

The adolescent (ages 12-18) subgroup in SPECTRA has also initiated enrollment and will complete enrollment in Q3 2021.

About SCB-2019 (CpG 1018/Alum)

SCB-2019 (CpG 1018/Alum),Clover's COVID-19 vaccine candidate,is anticipated to potentially be one of the first protein-based COVID-19 vaccines commercialized globally through the COVAX Facility. Employing the Trimer-Tag© technology platform,Clover developed the SCB-2019 antigen,a stabilized trimeric form of the S-protein (S-Trimer) based on the original strain of the SARS-CoV-2 virus. Clover's COVID-19 vaccine candidate is the combination of SCB-2019 and two adjuvants,Dynavax's CpG 1018 advanced adjuvant and aluminum hydroxide (alum).

Clover is currently advancing SPECTRA,safety,and immunogenicity of SCB-2019 (CpG 1018/Alum) and expects vaccine efficacy data in the third quarter of 2021. Pending positive data,Clover plans to submit conditional regulatory approval applications to the EMA,the NMPA and the WHO in the second half of 2021,and plans to commence product launch by the end of 2021.

About Clover Biopharmaceuticals

Clover Biopharmaceuticals isa global clinical-stage biotechnology company committed to developing novelvaccines and biologic therapeutic candidates to address the world's most life-threateningdiseases and public health threats. The Trimer-Tag© technologyplatformis a product development platform for the creation of novel vaccines and biologictherapies. We have leveraged the Trimer-Tag© technology platform to become a COVID-19vaccine developer and potentially one of the first companies to commercialize a protein-basedCOVID-19 vaccine globally through the COVAX Facility. For more information,please visit our website: www.cloverbiopharma.com and follow the company onLinkedIn.

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Clover Biopharmaceuticals:

Cindy Min

Vice President,Public Affairs

media@cloverbiopharma.com

Naomi Eichenbaum

Vice President,Investor Relations

investors@cloverbiopharma.com