Recbio announced the interim results for the fiscal year 2022 with an update on the company’s progress on innovation, clinical trials, and commercialization of its products.
For the year, the company reported positive development regarding its core products including the nine-valent HPV vaccine and multiple vaccine candidates.
The company’s expenses increased by 73% to RMB 354 million and cash reserves remained at RMB 1.5 billion, providing support for the company’s research, development innovation, and commercialization operations.
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The demand for import substitutions remained high and phase 3 clinical trials of the nine-valent HPV vaccine have advanced during the period.
The Phase 3 clinical trial of recombinant 9-valent HPV vaccine REC603 in china composed of three parts with a sample size of 16,050 subjects, was the largest sample size for a nine-valent HPV vaccine in China.
Its REC603 main efficacy trial is in the follow-up stage and subjects have been enrolled.
The demand for HPV vaccine including high-end HPV vaccine products is high in China. That’s why global sales of Gardasil & Gardasil 9 have increased 40% to $5.673 billion with the leading role of the Chinese Market.
The company succeeded to approve the sales of its nine-valent HPV vaccine in China.
The company reported that its new adjuvant quadrivalent HPV vaccine REC604a has completed preclinical studies and will file an IND in the second half of this year.
The company’s new adjuvant platform has huge potential for growth with its sustainable business development.
The company’s development and future international commercialization of ReCOV have achieved a strong base after it gets rapid development in vaccine quality management system with the conformance statement by EU Quality Authorizer (QP).
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