Brii Biosciences Exercises Option For Vir Biotechnology's Hepatitis B Antibody In Greater China

  • China-based biotechnology company Brii Biosciences Limited exercised its option to acquire exclusive development and commercialization rights for VIR-3434 in Greater China as part of its broader collaboration with Vir Biotechnology Inc VIR 
  • VIR-3434, also known as BRII-877, is a broadly neutralizing monoclonal antibody targeting HBV in Phase 2 development. This is Brii Bio's second option exercise for a Vir infectious disease program, with two remaining options still available to the company.
  • Under the terms of the agreement, following the exercise of the option for VIR-3434 (BRII-877), Brii Bio will pay an option exercise fee, regulatory and commercial milestone payments, and tiered royalty payments based on net sales with royalty rates from mid-teens to mid-twenties.
  • In May 2018, the companies entered into a collaboration under which Brii Bio was granted the option to acquire exclusive rights to certain Vir programs in Greater China. 
  • In June 2020, Brii Bio exercised its option to acquire the exclusive rights to further develop and commercialize BRII-835 (VIR-2218) in Greater China.
  • Price Action: VIR shares closed higher by 1.57% at $25.87 on Friday.

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