Brii Biosciences Acquires Full Rights to BRII-179 for HBV Cure Advancement
Brii Biosciences Limited, a biotechnology company focused on developing treatments for diseases with significant unmet needs, announced its acquisition of intellectual property (IP) and other assets related to BRII-179 from VBI Vaccines, Inc., its subsidiaries, and creditors K2 VBI Equity Trust, LLC and K2 HealthVentures LLC.
This agreement grants Brii full ownership of BRII-179 patents, know-how, and associated materials, while eliminating any future milestone or royalty obligations to VBI.
The total acquisition cost is $18 million. As part of the deal, Brii and VBI will terminate their prior agreements from February 14, 2024, which were not finalized due to VBI's operational shutdown. Brii’s obligations under the terminated agreements, except for a $2.5 million promissory note, will be cancelled.
“This transaction secures uninterrupted clinical supply and full IP ownership of BRII-179,” stated Dr. Zhi Hong, Chairman and CEO of Brii Biosciences. “It enhances shareholder value as we progress toward late-stage development.”
Brii is advancing its efforts to achieve higher functional cure rates for chronic Hepatitis B Virus (HBV) patients through BRII-179-containing combination therapies. Current studies suggest BRII-179 can identify HBV patients more likely to respond to curative treatments. The ENRICH study, a Phase 2b trial evaluating sequential treatment with BRII-179, elebsiran, and PEG-IFNα, is now fully enrolled, supported by robust data from ongoing research.
This agreement grants Brii full ownership of BRII-179 patents, know-how, and associated materials, while eliminating any future milestone or royalty obligations to VBI.
The total acquisition cost is $18 million. As part of the deal, Brii and VBI will terminate their prior agreements from February 14, 2024, which were not finalized due to VBI's operational shutdown. Brii’s obligations under the terminated agreements, except for a $2.5 million promissory note, will be cancelled.
“This transaction secures uninterrupted clinical supply and full IP ownership of BRII-179,” stated Dr. Zhi Hong, Chairman and CEO of Brii Biosciences. “It enhances shareholder value as we progress toward late-stage development.”
Brii is advancing its efforts to achieve higher functional cure rates for chronic Hepatitis B Virus (HBV) patients through BRII-179-containing combination therapies. Current studies suggest BRII-179 can identify HBV patients more likely to respond to curative treatments. The ENRICH study, a Phase 2b trial evaluating sequential treatment with BRII-179, elebsiran, and PEG-IFNα, is now fully enrolled, supported by robust data from ongoing research.
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