VBI Vaccines, Brii Biosciences expand Hepatitis B partnership

VBI Vaccines announced the expansion of its hepatitis B partnership with Brii Biosciences. Through two license and collaboration agreements, Brii Bio expanded its exclusive license to VBI-2601, VBI’s HBV immunotherapeutic candidate, to global rights and acquired an exclusive license for PreHevbri, VBI’s 3-antigen hepatitis B vaccine, in the Asia Pacific region. As part of the collaborations, Brii Bio will pay VBI an upfront payment of $15 million, including an equity investment of approximately $3 million, contingent on achievement of near-term milestones. VBI is also eligible to receive up to an additional $422 million in potential regulatory and commercial milestone payments, and potential double-digit royalties in the licensed territories, which is worldwide for VBI-2601 and APAC, excluding Japan, for PreHevbri. Brii Bio will be responsible for all development, regulatory, and commercialization activities and costs for the two programs in their respective licensed territories. VBI will retain global rights to PreHevbri outside of APAC. The transaction is subject to certain closing conditions including the satisfactory completion of a financing.