VBI Vaccines Announces Proposed Public Offering of Common Shares
December 12 2018 - 4:01PM
VBI Vaccines Inc. (Nasdaq: VBIV) (VBI), a commercial-stage
biopharmaceutical company developing next-generation infectious
disease and immuno-oncology vaccines, today announced that it has
commenced an underwritten public offering of its common shares. VBI
also intends to grant the underwriters a 30-day option to purchase
up to an additional 15% of the number of common shares offered in
the public offering. The offering is subject to market and
other conditions and there can be no assurance as to whether or
when the offering may be completed, or as to the actual size or
terms of the offering.
BMO Capital Markets, Canaccord Genuity LLC, and Oppenheimer
& Co. Inc. are acting as joint book-runners for the
underwritten public offering.
VBI intends to use the net proceeds from the offering to
progress its research and development programs, which include,
among other things, funding the continued clinical development of
Sci-B-Vac®, including the ongoing Phase 3 clinical program in the
United States, Europe and Canada; the Phase 1/2a clinical study of
the therapeutic vaccine candidate, VBI-1901, for glioblastoma
(GBM); the prophylactic vaccine candidate, VBI-1501, for
cytomegalovirus (CMV); and the immuno-therapeutic candidate,
VBI-2601, for hepatitis B. The net proceeds will also be used for
general corporate purposes, including working capital and capital
expenditures.
A shelf registration statement relating to the common shares was
previously filed with the Securities and Exchange Commission (the
“SEC”) and declared effective on June 8, 2017. A preliminary
prospectus supplement and accompanying prospectus relating to the
underwritten public offering will be filed with the SEC and will be
available on the SEC’s website at www.sec.gov. Copies of the
preliminary prospectus supplement (when available) and accompanying
prospectus may be obtained from BMO Capital Markets Corp.,
Attention: Equity Syndicate Department, 3 Times Square, 25th Floor,
New York, NY 10036 or by e-mail at bmoprospectus@bmo.com, or from
Canaccord Genuity LLC, Attention: Equity Syndicate Department 99
High Street, 12th Floor, Boston, MA 02110 or by e-mail at
prospectus@canaccordgenuity.com, or from Oppenheimer & Co.
Inc., Attention: Syndicate Prospectus Department, 85 Broad Street,
26th Floor, New York, NY 10004 or by e-mail at
equityprospectus@opco.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or other jurisdiction. Any offer, if at all, will be
made only by means of the prospectus supplement and accompanying
prospectus forming a part of the effective registration
statement.
The securities will not be offered or sold, directly or
indirectly, in Canada or to any resident of Canada.
About VBI Vaccines Inc.
VBI Vaccines Inc. is a commercial-stage biopharmaceutical
company developing a next generation of vaccines to address unmet
needs in infectious disease and immuno-oncology. VBI is advancing
the prevention and treatment of hepatitis B, with the only
commercially-approved trivalent hepatitis B vaccine, Sci-B-Vac®,
which is approved for use in Israel and 10 other countries and is
currently in a Phase 3 study in the U.S., Europe, and Canada, and
with an immuno-therapeutic in development for a functional cure for
chronic hepatitis B. VBI’s eVLP Platform technology allows for the
development of enveloped virus-like particle (eVLP) vaccines that
closely mimic the target virus to elicit a potent immune response.
Integrating its cytomegalovirus (CMV) expertise with the eVLP
platform technology, VBI’s lead eVLP vaccine candidates include a
prophylactic cytomegalovirus (CMV) vaccine candidate and a
therapeutic glioblastoma (GBM) vaccine candidate. VBI is
headquartered in Cambridge, MA with research operations in Ottawa,
Canada and research and manufacturing facilities in Rehovot,
Israel.
Cautionary Statement on Forward-looking
Information
Certain statements in this press release that are
forward-looking and not statements of historical fact are
forward-looking statements within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995
and are forward-looking information within the meaning of Canadian
securities laws (collectively, “forward-looking statements”). These
statements involve risks and uncertainties that could cause actual
results to differ materially, including, but not limited to, the
final terms of the offering, prevailing market conditions, the
anticipated use of the proceeds of the offering which could change
as a result of market conditions or for other reasons, and the
impact of general economic, industry or political conditions in the
United States or internationally. Additional risks and
uncertainties relating to the proposed offering, VBI and its
business can be found under the heading “Risk Factors” in the
preliminary prospectus supplement and accompanying prospectus
relating to the offering, in VBI’s most recent quarterly and annual
reports filed with the SEC and with the Canadian security
regulatory authorities at www.sedar.com and in the preliminary
prospectus supplement and accompanying prospectus relating to the
offering to be filed with the SEC. Given these risks,
uncertainties and factors, you are cautioned not to place undue
reliance on such forward-looking statements, which are qualified in
their entirety by this cautionary statement. All such
forward-looking statements made herein are based on our current
expectations and we undertake no duty or obligation to update or
revise any forward-looking statements for any reason, except as
required by law.
VBI Investor Contact
Nell Beattie, Chief Business OfficerEmail:
IR@vbivaccines.com
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