China-based Brii Biosciences Ltd (HKG: 2137) has announced an expanded license agreement with US firm VBI Vaccines Inc., (OTCMKTS: VBIVQ), further deepening their collaboration in the field of hepatitis B virus (HBV) treatments and vaccines.
Global Expansion of BRII-179 (VBI-2601) License
The initial licensing deal between the two companies in 2018 granted Brii Bio exclusive development and commercialization rights to BRII-179 in Greater China. This week’s agreement extends Brii Bio’s exclusive license for BRII-179 (VBI-2601) to worldwide markets. BRII-179 (VBI-2601) is a novel recombinant protein-based HBV immunotherapeutic candidate that expresses the Pre-S1, Pre-S2, and S HBV surface antigens, designed to induce enhanced B-cell and T-cell immunity.
Acquisition of Rights to PreHevbri in Greater China and Asia Pacific
Additionally, Brii Bio will acquire exclusive rights to develop and commercialize PreHevbri in Greater China and several Asia Pacific countries, including Australia, Indonesia, Malaysia, New Zealand, Philippines, Singapore, South Korea, Thailand, and Vietnam. PreHevbri is a clinically differentiated 3-antigen adult HBV prophylactic vaccine recently approved for use in the United States, European Union/European Economic Area, United Kingdom, Canada, and Israel.
Financial Terms and Milestones of the Agreement
As per the agreement, VBI will receive upfront payments of USD 15 million, including USD 5 million specifically allocated for manufacturing and supply, as well as a USD 3 million equity investment by Brii Bio, contingent on the achievement of near-term milestones. VBI is also eligible to receive additional payments based on the achievement of regulatory and commercial milestones, as well as royalties.-Fineline Info & Tech
