What are you searching for?

Sign in
Breaking News, Collaborations & Alliances

VBI, Brii Bio Partner for Hepatitis B

Brii Bio paid VBI $11 million upfront, including a $4 million upfront payment & a $7 million equity investment at $3 a share

VBI Vaccines Inc. has entered into a license and collaboration agreement with Brii Biosciences for the development of a functional cure for the treatment of chronic hepatitis B infection, using VBI’s recombinant, protein-based immuno-therapeutic, VBI-2601. 


As part of the collaboration, Brii Bio paid VBI an upfront payment of $11 million, consisting of a $4 million upfront payment and a $7 million equity investment priced at $3.05 per share. VBI is also eligible to receive an additional $117.5 million in potential milestone payments, and potential double-digit royalties on commercial sales in the licensed territory, which includes China, Hong Kong, Macau, and Taiwan.

“I am very excited to announce this partnership with Brii Bio, which leverages our hepatitis B expertise and marks our pipeline expansion into the therapeutic setting,” said Jeff Baxter, president and chief executive officer of VBI. “Brii Bio is uniquely positioned to accelerate infectious disease drug development and commercialization in China due to their world-class leadership, investors, and foundational and strategic partnerships. We believe this collaboration creates a promising opportunity to quickly and effectively develop a cure for chronic hepatitis B patients.”

“Chronic hepatitis B is one of the world’s most serious infectious disease burdens, and one that is particularly endemic in China,” said Dr. Zhi Hong, Ph.D., co-founder and chief executive officer of Brii Bio. “We believe VBI’s immuno-therapeutic has the potential to be a differentiated, and perhaps vital, component of a functional cure. This collaboration is a significant step forward as we work to deliver on our mission to improve public health in China.” Additional details were announced by Brii Bio today.
 
Under the agreement, VBI and Brii Bio will collaborate in the development of the product through to completion of a proof-of-concept clinical trial in China, following which, Brii Bio will be responsible for funding all development in the licensed territory. Brii Bio will retain commercial rights in the licensed territory, while VBI will retain all rights outside of the licensed territory. 

VBI-2601 has the potential to contribute to a functional cure by inducing and sustaining broad and effective immunity against Hepatitis B. VBI-2601 is uniquely formulated to target both B-cell and T-cell immunity through multiple mechanisms of action, including neutralizing the circulating hepatitis B virus, blocking hepatitis B infection of hepatocytes mediated through Pre-S1, and enabling immune-mediated clearance of infected hepatocytes.

 

Keep Up With Our Content. Subscribe To Contract Pharma Newsletters

Topics