VBI Vaccines

Company Overview

A commercial-stage biopharmaceutical company leveraging proprietary virus-like particle platforms to develop next-generation vaccines and immunotherapeutics targeting infectious disease and immuno-oncology. VBI Vaccines builds its pipeline around two distinct but often interrelated disease categories, prioritizing targets that are challenging and underserved. Its commercial anchor is PreHevbrio (previously marketed as PreHevbri in Europe), the only FDA-approved 3-antigen hepatitis B vaccine for adults in the United States. The company's dual-platform approach spans both preventive vaccines and therapeutic immunological candidates.

Headquarters and Global Presence

VBI is headquartered in Cambridge, Massachusetts, with research facilities in Ottawa, Ontario, Canada, and a research and manufacturing site in Rehovot, Israel. This tri-site footprint supports both its commercial vaccine supply chain and active research and development programs across infectious disease and oncology.

Founding and History

VBI Vaccines was founded in 2007 as an early-stage biotechnology startup in Cambridge, Massachusetts. A pivotal expansion came when the company acquired Epixis SA, a French biotech that brought the proprietary enveloped VLP (eVLP) platform into VBI's portfolio. SciVac Therapeutics subsequently acquired VBI in an all-stock merger, consolidating the Sci-B-Vac hepatitis B vaccine asset with VBI's platform technologies. The merged entity retained the VBI Vaccines name and went public in 2019, trading on Nasdaq.

Therapy Areas and Focus

VBI's primary focus spans infectious disease — anchored by hepatitis B — and immuno-oncology, where VLP-based immunotherapeutics are being explored as treatment-oriented approaches. Hepatitis B remains a significant global unmet need, with an estimated 296 million people chronically infected worldwide and existing vaccines offering only two-antigen coverage. VBI's 3-antigen approach was designed to address seroconversion gaps in immunocompromised and difficult-to-immunize adult populations. The oncology arm leverages the same VLP biology to stimulate targeted immune responses against tumor antigens.

Technology Platforms and Modalities

VBI's core platform is the enveloped VLP (eVLP) technology, which mimics the structure of natural viral envelopes to elicit robust and durable immune responses. Unlike conventional recombinant subunit vaccines, eVLPs present antigens in their native conformation, improving immunogenicity without requiring live virus. VBI has also developed a second-generation mRNA-launched eVLP (MLE) platform, which uses mRNA to direct in vivo production of eVLPs, combining the programmability of mRNA with the potency of VLP-based immunity. This dual-platform architecture positions the company across both prophylactic vaccine and therapeutic immunotherapy applications.

Key Pipeline and Programs

PreHevbrio (hepatitis B vaccine, recombinant, adsorbed) is VBI's commercial-stage 3-antigen hepatitis B vaccine, approved by the FDA for adults and the only such product authorized in both the US and Europe. It incorporates the S, pre-S1, and pre-S2 surface antigens of HBV, compared to the single S-antigen in legacy vaccines. The Phase III PROTECT study evaluated its immunogenicity in adults aged 18 and older, and while top-line data generated a volatile market reaction, the asset reached commercial launch and VBI announced a distribution partnership with Valneva for select European markets.

VBI-2601 (BRII-179) is a therapeutic hepatitis B candidate developed in collaboration with Brii Biosciences, designed as an immunotherapy to restore functional immune control over chronic HBV infection rather than simply suppress viral replication. Brii Biosciences reported durable hepatitis B surface antigen loss in a Phase II analysis in April 2026, representing a meaningful functional cure signal. The asset leverages VBI's eVLP platform to present HBV antigens and reactivate exhausted T-cell responses.

On the coronavirus front, VBI received a commitment of up to US$33 million from CEPI to develop an eVLP vaccine candidate targeting the Beta (B.1.351) COVID-19 variant, with the partnership subsequently expanded to cover broader sarbecovirus preparedness under a renewed "Coronavirus X" collaboration.

Recent Developments

Brii Biosciences reported positive Phase II data for VBI-2601 (BRII-179) in April 2026, showing durable control of hepatitis B surface antigen — a key functional cure marker — strengthening the therapeutic HBV program's clinical rationale. In June 2024, VBI and Valneva announced a distribution partnership for PreHevbri across select European markets, broadening the commercial reach of the 3-antigen hepatitis B franchise. Brii Biosciences also entered a second licensing agreement with VBI around the same period, signaling expanded collaboration beyond the initial VBI-2601 deal and sending VBI's pre-market shares up nearly 10%. CEPI's expanded "Coronavirus X" partnership further diversified VBI's non-HBV pipeline with pandemic-preparedness funding.

Key Personnel

Jeffrey Baxter serves as President and Chief Executive Officer. He joined VBI in September 2009 following a role as managing partner at The Column Group, a life sciences venture capital firm, and has guided the company through its public listing and commercial launch of PreHevbrio. The management team collectively brings over 50 years of experience in immunology, vaccinology, and pharmaceutical industry development across the company's US, Canadian, and Israeli operations.

Strategic Partnerships

VBI's most significant collaboration is with Brii Biosciences, a China-based biotech, covering the co-development of VBI-2601 (BRII-179) as a therapeutic HBV immunotherapy; Brii entered a second agreement with VBI in June 2024, expanding the relationship. CEPI committed up to US$33 million for VBI's eVLP-based coronavirus vaccine program, with the scope subsequently broadened to address a wider range of betacoronaviruses. The Valneva distribution agreement for PreHevbri in select European markets adds a commercial-stage partnership to complement VBI's pipeline collaborations.

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