On June 7, 2020 Clover Biopharmaceuticals, a global clinical-stage biotechnology company focused on developing novel and transformative biologic therapies, reported the completion of a US$ 24 million Series B-2 financing from GL Ventures (Press release, Clover Biopharmaceuticals, JUN 7, 2020, View Source [SID1234560883]). This financing round brings Clover’s total capital raised since 2016 to over US$ 140 million.

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"We are pleased to complete this financing round with GL Ventures, as it will allow us to continue our efforts in expanding internal R&D capabilities and building a world-class team," said Joshua Liang, Chief Strategy Officer & Board Director of Clover Biopharmaceuticals.

"We are thrilled to partner with Clover. We look forward to supporting this wonderful team as they create innovative therapies to address unmet medical needs across the globe," stated the GL Ventures team.

Clover Biopharmaceuticals is the innovator of Trimer-Tag©, an innovative drug development platform which allows the production of novel, covalently-trimerized fusion proteins. Many major disease targets are trimerization-dependent such as the tumor necrosis factor (TNF) superfamily (involved in extrinsic apoptosis, immune co-stimulation and inflammation) as well as enveloped RNA virus antigens responsible for entry into host cells. Clover is using its Trimer-Tag© technology with global IP position to develop recombinant trimerized fusion proteins that are able to effectively target these previously undruggable pathways. Trimer-Tag© has significant implications for the treatment of some of the most prevalent diseases across the world.