Olin Biotech (688319. SH) announced after hours on February 21 that recently, the company's trivalent influenza virus split vaccine (MDCK cells) and quadrivalent influenza virus split vaccine (MDCK cells) officially launched phase I clinical trials and completed the enrollment of the first subject.

The clinical trial adopts a randomized, blinded, and active-controlled trial design to evaluate the safety and preliminary immunogenicity of trivalent influenza virus split vaccine (MDCK cells) and quadrivalent influenza virus split vaccine (MDCK cells).

It is reported that the trivalent influenza virus split vaccine (MDCK cell) and quadrivalent influenza virus split vaccine (MDCK cell) of Olin Biotech are suitable for people aged 6 months and above, and after receiving influenza vaccine, it can stimulate the body to produce immunity against influenza virus and prevent influenza caused by vaccine-related influenza viruses. At the same time, the influenza vaccine of Olin Biotech is a cell-based influenza vaccine, which can achieve higher production yield, more stable product quality and lower production cost by large-scale cultivation in a bioreactor. Cell-based influenza vaccines from CSL and other manufacturers have been marketed abroad, but there is currently no cell-based influenza vaccine on the market in China.

In response to the impact of the above matters on the company, Olin Biotech said that the simultaneous launch of phase I clinical trials of trivalent and quadrivalent influenza virus split vaccines (MDCK cells) is an important progress made by the company in the field of viral vaccines, which is conducive to further extending the company's R&D pipeline, enriching the company's product layout, and laying a solid foundation for the company's high-quality and sustainable development.

According to public information, Olin Biotech was established on December 11, 2009 and landed on the Science and Technology Innovation Board on June 8, 2021. Fan Shaowen serves as the chairman and general manager of Olin Biotech. According to the resume information, Fan Shaowen was born in 1953 and graduated from Southwest Normal University with a master's degree in regional economics, chief technician, and licensed pharmacist.

It is worth mentioning that despite being deeply involved in the vaccine industry for many years, the performance of Olin Biotech has been significantly under pressure in recent years. Flush iFinD data shows that from 2021 to 2023, the operating income of Olin Biotech will be 487 million yuan, 547 million yuan, and 496 million yuan respectively, of which there will be a decline of 9.38% in 2023; The net profit attributable to shareholders of listed companies was 108 million yuan, 27 million yuan and 18 million yuan respectively, of which in 2022 and 2023 will decrease by 75.38% and 33.94% year-on-year respectively. In the first three quarters of 2024, the net profit attributable to shareholders of listed companies was 0.04 million yuan, a year-on-year decrease of 86.71%, and the downward trend of performance has not been reversed.