VBI Vaccines gets $2.5M upfront in deal with Brii Bio for assets and licensing

VBI Vaccines announced agreements whereby Brii Biosciences subject to certain activities, is expected to: acquire the intellectual property for VBI-2601, VBI’s HBV immunotherapeutic development program, and eliminate payment obligations from the July 2023 agreements between VBI and Brii Bio, acquire manufacturing capabilities and certain related assets at VBI’s Rehovot, Israel manufacturing facility, and enter into an exclusive license to develop and commercialize VBI-1901, VBI’s glioblastoma GBM immunotherapeutic candidate, in the Asia Pacific region APAC , excluding Japan. Additionally, subject to certain approvals, VBI and Brii Bio will work together to transfer the manufacturing technologies of VBI-2601 to a site designated by Brii Bio. VBI received $2.5M of consideration upon signing of definitive documents and is expected to receive up to an additional $30.5M of consideration, subject to achievement of certain activities, with a target completion date of June 30 . The proceeds from these agreements will be used for reduction of debt under the Company’s current facility with K2 HealthVentures.