Brii Biosciences Agrees To Acquire VBI's IP Rights In BRII-179 (VBI-2601) And Plans To Initiate Technology Transfer To Expand Clinical And Commercial Supplies
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Brii Biosciences has agreed to acquire VBI Vaccines' intellectual property rights for BRII-179 (VBI-2601) and plans to initiate a technology transfer to expand clinical and commercial supplies. The agreement includes a $2.5 million promissory note initially, potentially increasing to $10 million, and an additional $8 million note upon completing certain activities. Brii Biosciences will also take control of VBI's Rehovot-based manufacturing facilities for $10 million cash after June 30, 2024, and will become VBI's commercial supplier for PreHevbrio and PreHevbri.
February 14, 2024 | 6:29 am
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VBI Vaccines enters into an agreement with Brii Biosciences for the acquisition of IP rights for BRII-179 and technology transfer, including financial transactions totaling up to $28 million.
The agreement with Brii Biosciences provides VBI Vaccines with immediate financial benefits through promissory notes and future cash payments, potentially improving its financial position and investor perception. The partnership for technology transfer and becoming a commercial supplier for PreHevbrio and PreHevbri could lead to long-term revenue streams, positively impacting the stock price in the short term.
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