China-based Clover Biopharmaceuticals Ltd., (HKG: 2197) announced receiving a one-month prior written notice dated March 21, 2025, from the Global Alliance for Vaccines and Immunisation (GAVI). The notice asserts a unilateral termination of the Advance Purchase Agreement entered into between the two parties in 2021 relating to Clover Bio’s COVID-19 vaccine candidates.
Termination and Repayment Claim
GAVI has also claimed a repayment by Clover of the advanced payment of USD 224 million. However, Clover Biopharmaceuticals rejects this claim, believing it is without merit based on the terms of the Advance Purchase Agreement. The company has pledged to defend itself vigorously against this termination and repayment demand.-Fineline Info & Tech
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