Hong Kong-listed Clover Biopharmaceuticals, Ltd. (Clover) on 22 March 2026 executed a Settlement Agreement with Gavi, the Vaccine Alliance, resolving in full the arbitration over Gavi’s previously claimed US$224 million advance payment related to an Advance Purchase Agreement.
Under the terms of the Settlement Agreement, Clover’s wholly owned subsidiary, Clover HK, will: • Make an immediate one-off cash payment of US$7.00 million. • Pay semi-annual deferred instalments of US$1.50 million or a low single-digit percentage of the Group’s cash balance—whichever is higher. • Pay additional contingent success-based amounts calculated as mid-to-high single-digit percentages of future cash receipts from financings, business development transactions and product sales.
The aggregate of deferred and contingent payments is capped at a “mid double-digit millions” U.S. dollar figure, with discounts available for earlier settlement within the 12-year term of the agreement. Neither party admitted liability as part of the resolution.
Management stated that the agreement was driven by commercial considerations and is expected to enhance visibility on the Group’s strategic focus: advancing proprietary respiratory combination vaccine candidates SCB-1022 (RSV + hMPV) and SCB-1033 (RSV + hMPV + PIV3).
Clover will proceed with its Board meeting on 25 March 2026 to consider and approve the Group’s audited results for the year ended 31 December 2025. Shareholders and prospective investors are advised to exercise caution when dealing in the company’s shares.
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