Brii Biosciences enters into multiple beneficial deals with VBI Vaccines

China-based biotech Brii Biosciences (HKG: 2137) has entered into a second agreement with VBI Vaccines (Nasdaq: VBIV), sending the US firm’s up almost 10% to $0.72 in pre-market activity.

The collaboration aims to ensure expansion and control of future clinical and commercial supplies of BRII-179, a late-stage clinical asset in Brii Bio’s hepatitis B virus (HBV) functional cure portfolio.

Brii Bio will issue a $2.5 million promissory note to VBI initially. This will eliminate royalty and milestone payments for PreHevbri. Upon meeting specific conditions, the note will increase to $10 million, securing all of VBI’s intellectual properties (IP) for BRII-179, with associated payments also eliminated.