Clover Biopharmaceuticals Ltd, a global clinical-stage biotechnology company developing novel vaccines and biologic therapeutic candidates, announced on Wednesday the construction of a new research and development center in Zhangjiang Biotech and Pharmaceutical Industrial Base in Shanghai.

The Zhangjiang Biotech and Pharmaceutical Industrial Base, dubbed "Zhangjiang Pharma Valley", is one of the top biotech hubs in China and is home to over 1,000 innovative biotechnology and biopharmaceutical companies.

The R&D center is planned to cover over 25,000 square meters and include new preclinical research laboratory facilities, manufacturing process development labs and a good manufacturing practice pilot plant.

According to the company, construction of the R&D facilities is expected to be completed in the second quarter of this year and the entire R&D center is planned to be completed in the second half of the year. Clover intends to recruit hundreds of new hires from the area's deep talent pool to supplement its existing R&D capabilities and accelerate the development of multiple new product candidates.

Joshua Liang, chief executive officer of Clover Biopharmaceuticals, said: "Establishing a new R&D center in Shanghai will allow us to expand our R&D capabilities and accelerate our innovative pipeline. In the future, we plan to establish additional R&D centers around the world as we advance the discovery and development of new innovative product candidates."