As disclosed in the prospectus of the Company dated March 21, 2022, the Group had initiated subject enrollment for the phase II/III clinical trial for ReCOV in the Philippines. As of the date of this announcement, subject enrollment for the phase II trial for ReCOV in the Philippines and twoshot dosing for all such subjects had been completed, demonstrating a favourable safety profile of ReCOV based on the relevant safety data.

ReCOV is a recombinant COVID-19 vaccine being developed by the Group with its technology platforms including the novel adjuvant and protein engineering platforms. Based on the relevant studies conducted by the Group, ReCOV has shown favourable neutralizing effect and immune persistence against variants including Omicron variant and Delta variant. Clinical data from the Group's phase I trial for ReCOV in New Zealand also showed that it may potentially induce similar or higher level of neutralizing antibodies than other marketed mRNA COVID-19 vaccines and other vaccine candidates.