Clover Biopharmaceuticals Limited (“Clover Bio-B”) announces that under a licensing agreement with GenHunter Corporation (“GenHunter”), the Company's wholly-owned subsidiary Sichuan Clover has been granted an extended exemption in strict compliance with Listing Rules Section 14A.53 through December 31, 2026. The license agreement allows Sichuan Clover to use GenHunter's Trimer-Tag™ technology platform globally for drug development, production and commercialization, and to pay GenHunter a royalty of 2% of net sales and a royalty of 20% on licensed revenue. Since the Company's Executive Director, Dr. Leung is wholly owned by GenHunter, GenHunter is considered to be a connected person, so the license agreement is a continuing connected transaction. The Company's reasons for applying for exemption include commercial impracticability, compliance with...Show More

Clover Biopharmaceuticals Limited (“Clover Bio-B”) announces that under a licensing agreement with GenHunter Corporation (“GenHunter”), the Company's wholly-owned subsidiary Sichuan Clover has been granted an extended exemption in strict compliance with Listing Rules Section 14A.53 through December 31, 2026. The license agreement allows Sichuan Clover to use GenHunter's Trimer-Tag™ technology platform globally for drug development, production and commercialization, and to pay GenHunter a royalty of 2% of net sales and a royalty of 20% on licensed revenue. Since the Company's Executive Director, Dr. Leung is wholly owned by GenHunter, GenHunter is considered to be a connected person, so the license agreement is a continuing connected transaction. The Company's reasons for applying for exemption include commercial impracticability, compliance with the overall interests of the company and shareholders, market sensitivity and re-compliance with listing rules. The exchange approved the exemption application on 28 November 2023 and set the relevant conditions. Clover Bio-B will file a royalty report with GenHunter within 60 days of December 31, 2023 and will be disclosed in the next annual report.