VBI Vaccines

What VBI Vaccines does

VBI Vaccines Inc. was a clinical- and commercial-stage biopharmaceutical company (NASDAQ: VBIV until August 2024) developing vaccine and immunotherapeutic candidates built on three proprietary virus-like particle (VLP) technology platforms: standard VLP, enveloped VLP (eVLP) with a stable Gag Protein core and lipid bilayer for natural antigen presentation, and mRNA-launched eVLP (MLE), which instructs cells in vivo to produce eVLPs. The company's only approved product was PreHevbrio (also marketed as Sci-B-Vac in Israel and PreHevbri in EU/EEA/UK), a 3-antigen hepatitis B vaccine containing Pre-S1, Pre-S2, and S antigens that received FDA approval in 2021 based on Phase 3 PROTECT data demonstrating superiority versus Engerix-B in adults aged 45 and over. The remaining pipeline included prophylactic candidates for CMV (VBI-1501), pan-coronavirus and COVID-19 variants (VBI-2901/2902/2905), and Zika (VBI-2501), as well as therapeutic candidates targeting chronic hepatitis B (VBI-2601/BRII-179, partnered with Brii Biosciences) and glioblastoma (VBI-1901, in combination with GSK's AS01 adjuvant).

The company operated a vertically integrated model spanning R&D in Ottawa, Canada (approximately 5,400 sq ft of office and laboratory space), GMP manufacturing in Rehovot, Israel (the SciVac facility), and corporate/commercial headquarters in Cambridge, Massachusetts. Revenue derived primarily from PreHevbrio vaccine product sales through specialty vaccine distributors (including VaxServe, a Sanofi Pasteur company), a Syneos Health partnership for U.S. commercialization, and direct HCP and public-health vaccination program channels, supplemented by licensing/collaboration revenue (notably the Brii Bio deal) and non-dilutive funding from the Government of Canada Strategic Innovation Fund (up to CAD $56M) and CEPI (up to $33M). Key customer segments were unvaccinated or non-responsive adults at risk for hepatitis B, plus institutional healthcare providers, hospital systems, and public-health vaccination programs.

VBI initiated restructuring proceedings under Canada's Companies' Creditors Arrangement Act on July 30, 2024, received Chapter 15 recognition in the US on August 2, 2024, was delisted from Nasdaq effective August 8, 2024, issued a voluntary nationwide recall of all PreHevbrio on November 15, 2024, and entered into an asset acquisition agreement with K2 VBI Equity Trust, LLC (an affiliate of K2 HealthVentures LLC) on October 24, 2024, with all common shares cancelled for no consideration. The company has ceased independent operations.

Name

VBI Vaccines

Legal name

VBI Vaccines Inc.

Website

https://vbivaccines.com

Company type

Public

Founded year

1965

Operating status

Closed

Headcount range

101–250 employees

Short description

VBI Vaccines was a biopharmaceutical company that developed and commercialized PreHevbrio, a 3-antigen hepatitis B vaccine, plus pipeline candidates for CMV, coronavirus variants, Zika, and glioblastoma using proprietary VLP, eVLP, and MLE technology platforms, serving adult at-risk patients, healthcare providers, and public-health vaccination programs before ceasing operations in late 2024.

Ownership category

akta.pro rank

Product category

Biopharmaceutical Vaccines

NAICS

Biological Product (except Diagnostic) Manufacturing (325414)

SIC

Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

Prophylactic Human Vaccines (routine, pediatric, adult) (HLAAAEAA)

akta.pro secondary industries

Vaccine Technology Platforms (mRNA, viral vector, protein subunit, inactivated/live-attenuated, VLP, DNA) (HLAAAEAD), Therapeutic Vaccines (cancer, chronic infection immunotherapy) (HLAAAEAB), Adult Vaccines (HLAIAEAB)

Keywords

• Vaccine development
• Virus-like particles
• Hepatitis B vaccine
• Biopharmaceutical products
• Immunotherapy candidates

Headquarters

HQ city

Cambridge

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Vaccine Product Sales: VBI generated revenue from sales of PreHevbrio, its approved 3-antigen hepatitis B vaccine. However, the company has discontinued operations and recalled all PreHevbrio vaccine in November 2024 due to bankruptcy.
2. Licensing and Collaboration Revenue: VBI partnered with Brii Biosciences for VBI-2601 (BRII-179) development. In July 2023, Brii Bio secured worldwide licensing rights for VBI-2601. In February 2024, VBI announced agreement to sell manufacturing capabilities and related assets to Brii Biosciences.
3. Government and Foundation Funding: VBI received significant non-dilutive funding from government and organizations including Government of Canada Strategic Innovation Fund (CAD $56 million) and CEPI (up to $33 million) to support vaccine development.
4. PreHevbrio Recall: Company ceased operations in late 2024. PreHevbrio was voluntarily recalled in November 2024 due to discontinuation of company operations following restructuring proceedings.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

VBI Vaccines was a biopharmaceutical company that developed and commercialized vaccines and immunotherapeutic candidates using proprietary virus-like particle (VLP), enveloped VLP (eVLP), and mRNA-launched eVLP (MLE) technology platforms. Its primary commercial product was PreHevbrio, a 3-antigen hepatitis B vaccine (Pre-S1, Pre-S2, S antigens) approved in the U.S., E.U., U.K., and Canada for immunization of adults aged 18 and older. The pipeline included prophylactic candidates for CMV (VBI-1501), COVID-19 / pan-coronavirus (VBI-2901, VBI-2902, VBI-2905), and Zika (VBI-2501), and therapeutic candidates including VBI-2601 (chronic hepatitis B immunotherapeutic) and VBI-1901 (glioblastoma immunotherapeutic).

Product overview

VBI Vaccines is a biopharmaceutical company developing vaccine and immunotherapeutic candidates using three VLP technology platforms: Virus-Like Particles (VLP), Enveloped VLPs (eVLP), and mRNA-Launched eVLPs (MLE). The commercial product is PreHevbrio (also marketed as Sci-B-Vac), a 3-antigen hepatitis B vaccine approved in the U.S., Israel, E.U., and Canada. The pipeline includes: prophylactic candidates VBI-1501 (CMV), VBI-2901/2902/2905 (coronavirus/COVID-19), and VBI-2501 (Zika); and therapeutic candidates VBI-2601 (chronic hepatitis B) and VBI-1901 (glioblastoma).

Differentiator

Problem solved

Functional benefit

Brands

• Sci-B-Vac: Brand name for the 3-antigen hepatitis B vaccine approved for use in Israel
• PreHevbrio

Products and services

• PreHevbrio PreHevbrio is a 3-antigen hepatitis B vaccine (recombinant) approved for active immunization against infection caused by all known subtypes of hepatitis B virus in adults 18 years of age and older. It contains Pre-S1, Pre-S2, and S antigens, achieved rapid seroprotection after the first dose, and demonstrated higher GMTs compared to single-antigen vaccines. It was marketed to healthcare providers, hospitals, and public health vaccination programs.
• Sci-B-Vac Sci-B-Vac is the brand name for the 3-antigen hepatitis B vaccine approved for use in Israel, containing Pre-S1, Pre-S2, and S antigens—the same 3-antigen formulation marketed as PreHevbrio in the U.S., E.U., EEA, U.K., and Canada.
• VBI-2601 (BRII-179) VBI-2601 (also known as BRII-179) is an immunotherapeutic candidate that builds on the 3-antigen conformation of the prophylactic HBV program, reformulated to enhance B and T cell responses for chronic hepatitis B infection. In July 2023, worldwide licensing rights were granted to Brii Biosciences.
• VBI-1901 VBI-1901 is a bivalent eVLP cancer vaccine immunotherapeutic candidate that expresses two highly-immunogenic CMV antigens (gB and pp65) for the treatment of glioblastoma (GBM). It was clinically evaluated in combination with GSK's AS01 adjuvant in recurrent GBM patients.
• VBI-1501 VBI-1501 is a prophylactic eVLP vaccine candidate expressing a modified form of the CMV gB antigen (gB-G), designed to elicit both fibroblast and epithelial cell neutralization. It targets prevention of congenital CMV in newborns and CMV in immunocompromised patients including solid organ or bone marrow transplant recipients.
• VBI-2901 VBI-2901 is a multivalent pan-coronavirus vaccine candidate expressing spike antigens from SARS-CoV-2, SARS-CoV, and MERS-CoV on the surface of eVLP particles, designed for broad coronavirus protection.
• VBI-2902 VBI-2902 is a monovalent eVLP vaccine candidate expressing a modified, optimized, pre-fusion form of the SARS-CoV-2 spike antigen for COVID-19.
• VBI-2905 VBI-2905 is a monovalent eVLP candidate expressing the pre-fusion form of the spike protein from the Beta (B.1.351) variant of SARS-CoV-2, targeting COVID-19 variants of concern.
• VBI-2501 VBI-2501 is a bivalent eVLP vaccine candidate for Zika consisting of a modified E glycoprotein and NS1 glycoprotein.

Quantifiable outcome

• Phase 3 PROTECT study demonstrated superiority of 3-antigen HBV vaccine vs Engerix-B in adults ≥45 years old
• +3 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Twelve partnerships are on record, tiered core, major, strategic and minor.

• Brii Biosciences (Brii Bio)coreStrategic or Co-development Partner · 1 July 2023License and collaboration agreement for development of VBI-2601 (BRII-179) as part of potential functional cure for chronic hepatitis B infection. In July 2023, worldwide license granted to Brii Bio. In February 2024, VBI announced agreement to sell manufacturing capabilities and related assets to Brii Bio and enter into new license agreement.
• Government of CanadacoreOthersStrategic Innovation Fund awarded VBI up to CAD $56 million contribution to support development of prophylactic coronavirus vaccine candidates VBI-2901 and VBI-2902 through Phase 2 clinical studies.
• GlaxoSmithKline (GSK)majorStrategic or Co-development PartnerCollaboration to clinically evaluate combination of VBI-1901, VBI's cancer vaccine immunotherapeutic candidate, with GSK's proprietary AS01 adjuvant system in patients with recurrent glioblastoma (GBM).
• National Research Council of Canada (NRC)majorTechnology or IntegrationCollaboration to develop COVID-19 vaccine candidate and pan-coronavirus vaccine candidate targeting COVID-19, SARS, and MERS. Latest in series of collaborations including research and development on preclinical programs.
• Resilience Biotechnologies Inc. (Resilience)strategicImplementation/ SI/ Consulting PartnerAgreement for development and manufacturing services for coronavirus vaccine candidates. Collaboration expected to support clinical studies through Phase 2 development. (Previously Therapure Biopharma Inc.)
• Syneos HealthmajorChannel Partner/ Reseller/ DistributorPartnership for commercialization of VBI's prophylactic hepatitis B program, including U.S. commercialization of PreHevbrio.
• Action Hepatitis Canada (AHC)minorGTM or Marketing PartnerVBI supports Action Hepatitis Canada, national coalition of organizations responding to viral hepatitis, in their work to engage government, policy makers, and civil society to promote viral hepatitis prevention, create public health awareness, and support community-based groups.
• Adult Vaccine Access Coalition (AVAC)minorGTM or Marketing PartnerVBI is a corporate member of AVAC, formed to advocate for federal policies that improve access to and increase utilization of vaccines among adults.
• Association of Immunization Managers (AIM)minorGTM or Marketing PartnerVBI is a corporate alliance member of AIM, nonprofit organization dedicated to establishing a nation free of vaccine-preventable disease through public health immunization programs.
• Hepatitis B FoundationminorGTM or Marketing PartnerVBI supports Hepatitis B Foundation's work on promoting disease awareness and immunization initiatives for hepatitis B.
• Immunize.orgminorGTM or Marketing PartnerVBI is a corporate member of Immunize.org (formerly Immunization Action Coalition) and supports its work to increase immunization rates by creating and distributing educational materials.
• National Foundation for Infectious Diseases (NFID)minorGTM or Marketing PartnerVBI is a Silver Level Strategic Partner of NFID, supporting their work to educate the public and healthcare professionals about prevention, diagnosis, and treatment of infectious diseases.

Scale indicators7 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Dynavax Technologies: Dynavax is a direct competitor in adult hepatitis B vaccination with Heplisav-B, a two-dose adult HBV vaccine that competes head-to-head with VBI's PreHevbrio for the same under-vaccinated adult patient population and healthcare provider channel.
• Novavax: Novavax is the most analogous VLP-platform vaccine peer, using recombinant nanoparticle technology to develop COVID-19 and other prophylactic vaccines, sharing VBI's core scientific approach of virus-like particle antigen presentation.

Emerging players

• GeoVera Labs: GeoVera Labs is an emerging VLP-based vaccine developer focused on infectious-disease targets that uses similar virus-like-particle technology to VBI's eVLP platform and addresses overlapping indication spaces.
• Northwest Biotherapeutics: Northwest Biotherapeutics is a peer in the therapeutic cancer-vaccine space, with DCVax-L for glioblastoma directly competing with VBI's VBI-1901 eVLP GBM candidate in the same recurrent glioblastoma indication.
• Arcturus Therapeutics: Arcturus is an emerging mRNA and nucleic-acid vaccine developer with COVID-19 and infectious-disease programs that compete with VBI's VBI-2901/2902/2905 candidates and share the platform-technology orientation of VBI's MLE platform.

Broad incumbents

• BioNTech: BioNTech is a major mRNA-vaccine developer with overlapping COVID-19 vaccine development and a broad infectious-disease and oncology pipeline that parallels VBI's prophylactic vaccine and therapeutic GBM programs.
• GlaxoSmithKline (GSK): GSK markets Engerix-B and Fendrix, the single-antigen HBV vaccines used as comparators in VBI's Phase 3 PROTECT study, and was also VBI's co-development partner for the AS01-adjuvanted GBM candidate, making GSK both a competitor and collaborator.
• Sanofi Pasteur: Sanofi Pasteur, the vaccines division of Sanofi, is a global vaccine incumbent and owns VaxServe, the specialty distributor that VBI used for PreHevbrio distribution, and competes in adult HBV and other infectious-disease vaccine categories.
• Merck & Co. Merck markets Recombivax HB, one of the established single-antigen hepatitis B vaccines that competes with VBI's PreHevbrio, and is a broad pharmaceutical incumbent with vaccine and oncology operations overlapping VBI's focus areas.
• Moderna: Moderna is a leading mRNA-vaccine platform company whose technology base intersects with VBI's MLE (mRNA-launched eVLP) platform and which competes in COVID-19 vaccine development alongside VBI's VBI-2901/2902/2905 candidates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks4 records

Key highlights7 records

Customer concentration

• Xx.com/vbivaccines
• Facebookfacebook.com/vbivaccines
• LinkedInlinkedin.com/company/variation-biotechnologies-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries6 records

Funding overview

Funding rounds15 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about VBI Vaccines