Leading the Two Golden Tracks of Pneumonia Vaccine and Rabies Vaccines

HONG KONG SAR - Media OutReach Newswire - 4 March 2024 - AIM Vaccine Co., Ltd. (the "Company", together with its subsidiaries, the "Group") is pleased to announce that the company has made significant progress in the research and development of its Pneumonia vaccine and Rabies vaccine products. The launch of these new products is expected to accelerate, providing significant momentum for the company's future revenue growth. The Company has initiated Phase II clinical trials for its Tetravalent meningococcal conjugate vaccine (MCV4), while the clinical trials for the Group's diphtheria, tetanus and acellular pertussis – HIB combined vaccine is also progressing rapidly.

According to the preliminary performance forecast for the 2023 , assuming that the sales revenue remains relatively stable compared to 2022, the company has made significant provisions for impairment of intangible assets and goodwill, as well as increased research and development expenses due to the third-phase clinical trials of its five major core products and the changing landscape of the COVID-19 pandemic. As a result, the performance for the year 2023 is expected to be a loss. However, it is anticipated that with the concentrated launch of several heavyweight new products by the company, AIM Vaccine is poised for a strong comeback

AIM Vaccine is strategically developing its portfolio of Pneumonia vaccine products by continuously innovating and rapidly advancing iterative upgrades through research and development. Among them, the 13-valent pneumonia conjugate vaccine has completed on-site work for Phase III clinical trial and has submitted a pre-application for marketing. the 23-valent pneumonia polysaccharide vaccine has also completed Phase III clinical trial and is expected to apply for marketing registration in 2024. the 20-valent pneumonia conjugate vaccine has submitted a pre-application for clinical trials; while the 24-valent pneumonia conjugate vaccine, which is being simultaneously developed globally for the first time, has completed preclinical research.

According to the classification of the World Health Organization, pneumococcal disease is one of the diseases requiring "very high priority" use of vaccines for prevention. The 13-valent pneumonia conjugate vaccine approved in China only covers those under 6 years old. The market for those over 6 years old is still blank. China Insights Industry Consultancy Limited, an industry consultant, predicts that the market size of this vaccine in China is expected to exceed RMB20 billion by 2030, indicating tremendous market potential. In addition, the estimated penetration rate of the 13-valent pneumonia conjugate vaccine in the approved age group in China is 25.9%, while the penetration rate in the corresponding age group in the United States exceeds 80%, indicating that there is still significant room for growth in the Chinese market. It is estimated that the global underserved demand for the 13-valent pneumonia conjugate vaccines is as high as 180 million doses. However, currently only three companies have been approved to supply them globally. After the launch of its 13-valent pneumonia conjugate vaccine, the Group is expected to become an important supplier in the market.

The Group's strategic positioning of its rabies vaccine products has also achieved exciting progress. As the second largest supplier of rabies vaccine globally, the Group has expedited the development of iterative rabies series vaccines, in particular: The on-site work of the phase III clinical trial of iterative serum-free rabies vaccine has been completed, and various preparatory work for the new drug application is underway, which is planned to be completed in 2024; The pre-application for clinical trial for the novel-process human diploid rabies vaccine is expected to be submitted in the first half of 2024; 3. the iterative mRNA rabies vaccine is the first non-COVID-19 mRNA vaccine candidate accepted by relevant authorities in China.

To date, there is no serum-free rabies vaccine approved for launch in the global market. The novel-process human diploid rabies vaccine developed by the Group became the first to break through the technical bottleneck of low virus titer and small yield in the traditional process, with optimized and innovated purification process, which has notably improved product quality and safety as compared with similar marketed products in China, and has the production capacity for large-scale commercialization.

Based on the performance forecast and the progress in product development, AIM Vaccine's investment in research and development is gradually paying off. The company's revenue and operations are stable and improving, which will help the company better seize market opportunities. At the same time, AIM Vaccine adheres to its development strategy and layout of major single products, large production capacity, and strong commercialization capabilities. Leveraging its top-class vaccine development platform technology and internal research and development team, the company fully meets the market demand for iterative upgraded vaccines. This helps achieve new productive forces in the industry, leads international industry innovation, and contributes to the establishment of a robust public health system and the comprehensive implementation of the Healthy China strategy.
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About AIM Vaccine Co., Ltd.

AIM Vaccine (stock code: 06660) is committed to manufacturing conscientious vaccines and promoting the health of the people. It is the second-largest vaccine group in China and the largest private-sector vaccine group, with a complete industry chain. AIM Vaccine is a leading company in the Chinese vaccine industry and one of the top players in the mRNA vaccine field. As one of the most strictly regulated industries in the country, China has over 40 vaccine production qualifications nationwide. Currently, AIM Vaccine owns four wholly-owned licensed vaccine production companies and three vaccine research institutes. It is one of the only two human vaccine companies in China with strategic resources such as P3 laboratories. AIM Vaccine is also the world's largest manufacturer of hepatitis B vaccines and the second-largest manufacturer of rabies vaccines globally.

AIM Vaccine has a portfolio of eight commercialized vaccines and 23 vaccines under development, covering the top ten vaccine varieties globally. Its commercialized products have maintained a leading market position for a long time, with sales covering all 31 provinces, municipalities, and autonomous regions in China, reaching over 2,000 district and county-level disease control centers.