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CAMBRIDGE, Mass. , September 15, 2022–(BUSINESS WIRE)–VBI Vaccines Inc. (Nasdaq: VBIV) (VBI), an immunology-focused biopharmaceutical company seeking potent disease prevention and treatment, announced that it has entered into a refinanced and increased line of credit of up to $100 million with its existing lender, K2 HealthVentures (K2HV), a specialized healthcare-focused financial firm.
Under the terms of the agreement, $50 million will be delivered without delay to VBI at closing, adding $30 million to refinance the company’s ongoing facility with K2HV, and plus $20 million non-dilutive financing. Future tranches of up to $25 million are committed and will be delivered to VBI upon completion of certain clinical and financial milestones, and another $25 million will be delivered at K2HV’s discretion.
“Through our successful partnership with K2HV, this refinancing and access to more capital provides significant monetary flexibility as we continue our PreHevbrio™ advertising launch and advance our portfolio of prophylactic and curative vaccines,” said Jeff Baxter, president and chief executive officer of VBI. The K2HV team has demonstrated a deep understanding of our business and the science that drives VBI, and we are grateful for their investment in the future of VBI. “
“We are excited to be able to maintain and develop our VBI pipeline commercialization and progression efforts, and look to the future to proceed to work with the VBI team on their project to address significant unmet oncology and infectious disease needs,” said Anup. Arora, founding CEO and Chief Investment Officer of K2HV.
About PreHevbrio™ [hepatitis B vaccine (recombinant)]
The VBI hepatitis B vaccine is the 3-antigen hepatitis B vaccine, consisting of the 3 hepatitis B surface antigens of the hepatitis B virus: S, pre-S1 and pre-S2. It is approved for use in the United States, the European Union/European Economic Area, the United Kingdom, and Israel. The names of the logos of this vaccine are: PreHevbrio™ (USA). USA), PreHevbri™ (EU/EEA, UK) and Sci-B-Vac® (Israel).
Visit www. PreHevbrio. com for vital U. S. protective data. U. S. For PreHevbrio ™ [Hepatitis B Vaccine (Recombinant)], or Review Complete U. S. Prescribing Data. USA
Indication from USA
PreHevbrio is indicated for the prevention of infections across all known subtypes of the hepatitis B virus. PreHevbrio is approved for use in adults aged 18 and older.
Important U. S. Security Information (ISI)
Do not give PreHevbrio to others with a history of a severe allergic reaction (such as anaphylaxis) after a previous dose of any hepatitis B vaccine or any component of PreHevbrio.
Appropriate medical treatment and supervision should be available to manage imaginable anaphylactic reactions after management of PreHevbrio.
Immunocompromised people, in addition to those receiving immunosuppressive therapy, would possibly have a decreased immune reaction to PreHevbrio.
PreHevbrio may not prevent hepatitis B infection, which has a long incubation period, in other people who have an undetected hepatitis B infection at the time of vaccine administration.
Maximum non-unusual adverse reactions (> 10%) in older adults aged 18 to 44 years, adults aged forty-five to 64 years, and adults aged 65 years and older were pain and tenderness at the injection site, myalgia, fatigue and headache.
There is a pregnancy exposure registry that monitors pregnancy outcomes in women who obtained a PreHevbrio pregnancy. Women who obtain a PreHevbrio pregnancy are encouraged to call 1-888-421-8808 (toll-free).
For SUSPECTED ADVERSE REACTIONS, contact VBI Vaccines at 1-888-421-8808 (toll-free) or VAERS at 1-800-822-7967 or www. vaers. hhs. gov.
See full prescribing information.
About VBI Vaccines Inc.
VBI Vaccines Inc. (“VBI”) is a biopharmaceutical company focused on immunology in pursuit of potent disease prevention and treatment. Through its state-of-the-art technique for virus-like waste (“VLP”), adding the patented wrapped VLP platform (“eVLP”), VBI is developing candidate vaccines that mimic the herbal presentation of viruses, designed to elicit the innate strength of the human immune system. as well as competitive cancers, adding glioblastoma (GBM). VBI is headquartered in Cambridge, Massachusetts, with studio operations in Ottawa, Canada, and a studio and production facility in Rehovot, Israel.
Home: http://www. vbivaccines. com/ News & Resources: http://www. vbivaccines. com/news-and-resources/ Investors: http://www. vbivaccines. com/investors/
About K2 HealthVentures
K2 HealthVentures is a select investment corporation whose goal is to offer flexible, long-term financing responses to cutting-edge private and public corporations in the life sciences and healthcare sectors. operations, as well as deep domain knowledge in various health sectors. An exclusive and flexible permanent capital design allows the company to provide adaptable and artistic financing responses and meet the ever-changing capital desires of the corporations in its portfolio as they grow. K2HV is driven through the dual goals of profit and goal: with the goal of driving the expansion of cutting-edge corporations that, in the end, will end patients’ lives and return a percentage of the return of investment benefits to healthcare areas desatendidas. www. k2hv. com
Cautionary Note on Forward-Looking Information
Certain statements in this press release that are forward-looking and not statements of past fact are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are forward-looking data within the meaning of the laws Canadians. securities (collectively, “forward-looking statements”). The Company cautions that such statements involve dangers and uncertainties that may also materially affect the effects of the Company’s operations. These forward-looking statements are based on control’s ideals, as well as the assumptions made through control and the data that exist to obtain it. Actual effects may also differ materially from those weighted through forward-looking statements due to certain factors, including, but not limited to, the impact of general economic, political or publicity situations in the United States or internationally. ; the effect of the current COVID-19 pandemic on our clinical studies, manufacturing, business plan and the global economy; the ability to effectively manufacture and advertise PreHevbrio/PreHevbri; the ability to identify potential products as effective or safe in preclinical or clinical trials; the ability to identify or maintain collaborations on the progression of candidate projects and PreHevbrio/PreHevbri publicity; the ability to download appropriate or mandatory regulatory approvals to advertise potential products; the ability to offload long-term financing for progression and working capital products and to offload such financing on moderate advertising terms; the Company’s ability to manufacture product applicants on an advertising scale or in collaboration with third parties; adjustments in the duration and nature of the competitors; the ability to retain key executives and scientists; and the ability to secure and enforce similar legal rights to the Company’s products. A discussion of those and other factors, aggregating dangers and uncertainties relating to the Company, is set forth in the Company’s filings with the SEC and Canadian securities regulators, adding its Annual Report on Form 10. -K filed with the SEC on March 7, 2022, and filed with the Canadian Security Government on sedar. com on March 7, 2022, as possibly supplemented or amended through the company’s quarterly reports on Form 10-Q. Given these dangers, uncertainties and factors, you are cautioned not to place undue reliance on these forward-looking statements, which are qualified in their entirety by this cautionary statement. All forward-looking statements made in this document are based on our existing expectations and we assume no legal responsibility or duty to update or revise any forward-looking statements for any reason, except as required by law.
See the businesswire. com edition: https://www. businesswire. com/news/home/20220915005635/en/
Contacts
VBI Nicole AndersonDirector, Corporate Communications and IRPhone: (617) 830-3031 x124Email: IR@vbivaccines. com