Therapy Areas: Vaccines
Vaccine Developer VBI Vaccines Secures USD 100m Debt Facility
16 September 2022 - - US-based biopharmaceutical company VBI Vaccines Inc. (NASDAQ: VBIV) has entered into a refinanced and upsized debt facility of up to USD 100m with its existing lender, healthcare-focused specialty finance company K2 HealthVentures, the company said.

Under the terms of the agreement, USD 50m is immediately available to VBI upon closing, comprised of USD 30m to refinance the outstanding facility the company held with K2HV, and an incremental USD 20m of non-dilutive funding.

Future tranches of up to USD 25m are committed and will be made available to VBI upon the achievement of certain clinical and financial milestones, and a further tranche of USD 25m is available at the discretion of K2HV.

VBI's PreHevbrio hepatitis B vaccine is the only 3-antigen hepatitis B vaccine, comprised of the three hepatitis B surface antigens of the hepatitis B virus S, pre-S1, and pre-S2.

It is approved for use in the United States, European Union/European Economic Area, United Kingdom, and Israel. The brand names for this vaccine are: PreHevbrio, PreHevbri (EU/EEA, UK), and Sci-B-Vac (Israel).

VBI Vaccines Inc. is a biopharmaceutical company driven by immunology in the pursuit of prevention and treatment of disease.

Through its innovative approach to virus-like particles, including a proprietary enveloped VLP platform technology, VBI develops vaccine candidates that mimic the natural presentation of viruses, designed to elicit the innate power of the human immune system.
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