Adimmune production line expansion on schedule and will accelerate COVID-19 vaccine development

Adimmune Biotech Corporation(4142), announced today that February revenue came in at 4.59 million NTD, cumulative income this year from January to February is 361 million NTD, a 935% increase compared to the same period last year’s revenue of 34 million NTD.

The primary reason the monthly revenue of February this year decreased compared to the same period last year, is because the construction of the second sterile filling line is entering the factory construction phase, limiting the usage of the first filling line, this year’s product production cycle has therefore been adjusted. The production capacity of the first production line will recover past Q1 2020, and when the second sterile filling line is completed in Q3 2021, production capacity will be increased greatly, and will be able to fulfill both domestic and international orders

After WHO declared the Northern Hemisphere influenza vaccine strain this year, Adimmune immediately began production of the seasonal influenza vaccine stock solution. Also, Adimmune will begin clinical trials for quadrivalent vaccines for children from 6 months old to 3 years old, to provide complete influenza protection for people of all age groups.

As the first professional human use vaccine company in Taiwan, Adimmune has the capability to research and produce vaccines from start to finish, Adimmune set up an ad hoc group to research a vaccine for COVID-19,  Adimmune has been a long time partner with the government of Taiwan when large scale epidemics occur, and has recently signed an agreement to cooperate with the Taiwanese National Health Research Institute, the agreement includes COVID-19 vaccine and reagent development, as well as researching the behaviour of the coronavirus in animals. Together, the two parties will accelerate vaccine development, adding another weapon to the nation’s defense against epidemics.

Analysis shows, assuming Adimmune’s shipment of public serviced vaccines and exported influenza orders are completed on time, the 2019 taiwanese public service vaccine’s revenue being deferred to Q1 this season, and the orders of Protein Sciences/Sanofi and Techdow Pharmaceuticals, Adimmune’s revenue is estimated to grow exponentially.