BUZZ-VBI Vaccines rises on new license agreement

Reuters02-14

** Shares of biotech VBI Vaccines 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;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment