VBI Vaccines rises on new license agreement

VBI Vaccines

14/02/2024 12:34

** Shares of biotech VBI Vaccines  VBIV.O  rise 21.2% to 80
cents premarket 
    ** Co enters into licensing agreement with private firm Brii
Biosciences, under which Brii will acquire intellectual property
for VBIV's experimental therapy to treat hepatitis B
    ** Co will also sell its Rehovot, Israel manufacturing
facility and certain related assets under agreement 
    ** Brii Bio will develop and market VBIV's experimental
cancer therapy in the Asia Pacific region, excluding Japan  
    ** VBIV to receive up to $33 mln in payments, subject to
achievement of certain milestones 
    ** On completion of the transaction, co's total debt to
reduce to $17 mln - VBIV 
    ** Stock fell about 96% in the last 12 months 
    

 (Reporting by Sneha S K)
 ((Sneha.SK@thomsonreuters.com;))