VBI Vaccines is developing prophylactic and therapeutic virus-like particle (VLP)-based vaccines for the prevention of cytomegalovirus (CMV), respiratory syncytial virus (RSV) and hepatitis C virus (HCV) infections. The vaccines are being developed based on Epixis' eVLP technology. The foundation of the eVLP technology is a stable, protein-based core on which additional vaccine antigens of interest can be added. eVLP-based vaccines are designed to mimic the target virus, but do not contain any infectious viral material. eVLPs impart greater immunity than immunisation with the same recombinant target protein alone due to their structural similarity to viruses. VBI Vaccines believes its HCV vaccine candidate may be capable of replacing interferon when used in combination with standard antivirals. Preclinical development in CMV and HCV infections is underway in Canada. Early research in RSV infections is underway in Canada.
VBI 2501 has emerged as a lead candidate from this research programme [see Adis Insight Drug Profile 800060416].
VBI 1901 being developed for the treatment of medulloblastoma and glioblastoma multiforme, has entered clinical development [see Adis Insight Drug Profile 800051104].
VBI 1501A has entered clinical development [see Adis Insight Drug Profile800045639].
VBI is seeking a partner to develop its HCV vaccine candidate.
In September 2011, Epixis was acquired by VBI Vaccines  .
As at October 2018, no recent reports of development had been identified for preclinical development in Hepatitis-C in Canada, preclinical development in Cytomegalovirus infections (Prevention) in Canada.
As at October 2019, no recent reports of development had been identified for research development in Respiratory-syncytial-virus-infections in Canada.
In September 2014, VBI Cda signed a licensing agreement with Advanced Medical Research Institute of Canada (AMRIC), which provides AMRIC with the exclusive rights to IP related to VBI’s proprietary Variosite™ technology and SFV2 seasonal flu vaccine and a non-exclusive right to use an adjuvant formulation with Variosite™ vaccines including SFV2.Under this licensing agreement AMRIC will be responsible for all development costs (VBI Vaccines form 10-K filed in March 2015).
Key Development Milestones
In rhesus macaque models, administration of HCV eVLP indicated cross-reactive neutralising antibody responses against divergent genotypes of HCV.
In October 2017, VBI Vaccines announced the pricing of its underwritten public offering and concurrent registered direct offering of its common shares, with a 30-day option to the underwriters in the public offering, to purchase additional shares. The company anticipates receipt of approximately $US63.5 million as aggregate gross proceeds, and intends to utilise the net proceeds from both offerings to progress its pipeline programme, including funding of the planned phase I/IIa clinical study of VBI 1901 for glioblastoma multiforme, and for general corporate purposes, including working capital and capital expenditures  . VBI vaccines announced an update to the deal with the registered direct offering was upsized from $US20.8 million to $US22.8 million. The pricing for the underwritten public offering was for a total of 16 100 000 common shares, which includes the additional 2 100 000 shares purchased by the underwriters pursuant to the exercised option, for expected gross proceeds of $US49.1 million. The pricing for the concurrent registered direct offering was for a total number of 7 475 410 common shares for expected gross proceeds of $US22.8 million  . In November 2017, VBI Vaccines announced the closing of its previously announced underwritten public offering of 16,100,000 common shares and its concurrent registered direct offering of 7,475,410 common shares at a price of US$3.05 per share and has raised net proceeds of US$71.9 million from this public offering and registered direct offering  .
In December 2016, VBI Vaccines raised $US23.6 million in equity and debt financing transactions. The company intends to use the proceeds towards development of its vaccine candidates  .
In September 2015, VBI Vaccines received a grant of $CAD350 000 from the National Research Council-Industrial Research Assistance Program (NRC-IRAP) for the development of respiratory syncytial virus (RSV) vaccine candidate using the company's eVLP platform  .