VBI Vaccines, Brii Biosciences Expand Hepatitis B Immunotherapy Pact

VBI Vaccines Inc VBIV expanded its hepatitis B (HBV) partnership with Brii Biosciences to work on preventing and treating the disease.

Through two license and collaboration agreements, Brii Bio has acquired a worldwide exclusive license for VBI-2601 (BRII-179) and an exclusive license for PreHevbri in the Asia Pacific (APAC) region from VBI.

VBI president and CEO Jeff Baxter stated: “This expanded partnership with Brii Bio is a strong endorsement for our HBV programs and our contribution to the fight against hepatitis B.”

Also Read: VBI Vaccines Announces Cost Cutting Measures, Reverse Stock Split.

VBI-2601 (BRII-179) is a recombinant, protein-based HBV immunotherapeutic candidate being evaluated in two Phase 2 trials with Brii Biosciences as part of a possible functional cure for chronic hepatitis B infection.

PreHevbri is the only 3-antigen hepatitis B vaccine and consists of the three hepatitis B surface antigens of the hepatitis B virus, – S, pre–S1, and pre–S2.

Brii Bio will pay VBI an upfront payment of $15 million, including an equity investment of approximately $3 million, contingent on achieving near-term milestones. 

VBI is also eligible to receive up to an additional $422 million in potential regulatory and commercial milestone payments and double-digit royalties in the licensed territories worldwide for VBI-2601 and APAC, excluding Japan, for PreHevbri. 

Besides its responsibility for all development, regulatory, and commercialization activities, Brii Bio will also meet the costs of the two programs in their respective licensed territories.

Beyond the APAC region, VBI will hold global rights to PreHevbri.

Concurrently, VBI Vaccines commenced underwritten public and registered direct offerings. Details were not disclosed.

Price Action: VBIV shares are down 28.50% at $1.73 during the premarket session on the last check Thursday.