K2 HealthVentures will provide a debt financing facility for up to $50 million to VBI Vaccines, a commercial-stage biopharmaceutical company developing infectious disease and immuno-oncology vaccines.
“This partnership with K2HV complements our recent $57.5 million equity raise, strengthening the financial position and flexibility of VBI as we advance our pipeline candidates through their next clinical and regulatory milestones, including the potential commercial launch of Sci-B-Vac in the U.S., Europe and Canada,” Jeff Baxter, president and CEO of VBI Vaccines, said. “Throughout this investment process, the K2HV team has proven to have a deep understanding of our business and the science driving VBI, and we look forward to continued collaboration.”
Upon closing, VBI received the first tranche of $20 million and fully repaid its previous $15 million loan facility with Perceptive Advisors. Future tranches of up to $20 million will become available to the company upon achievement of certain regulatory and developmental milestones, and a final tranche of up to $10 million will be available at the discretion of K2 HealthVentures.
“We are excited to support VBI’s efforts at such a pivotal time for the company,” Anup Arora, founding managing director and chief investment officer of K2 HealthVentures, said. “This financing is in line with our strategy of investing in innovative life sciences and healthcare companies whose success will help to improve outcomes for patients and enhance public health more broadly.”
Armentum Partners served as financial advisor to VBI Vaccines on this transaction.
K2 HealthVentures is a healthcare-focused specialty finance company.
