Item 7.01 Regulation FD Disclosure.
On September 8, 2022, VBI Vaccines Inc. issued a press release announcing its
partnership with Valneva Austria GmbH (“Valneva”) for the marketing and
distribution of PreHevbri™ in select European markets. A copy of the press
release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is
hereby incorporated by reference herein.
Item 8.01 Other Events.
On September 2, 2022, VBI Vaccines B.V. (“VBI”), a wholly-owned subsidiary of
VBI Vaccines Inc., and Valneva entered into a binding term sheet (the “Term
Sheet”) in connection with the marketing and distribution for PreHevbri™ in
select European countries, which initially include the United Kingdom, Sweden,
Norway, Denmark, Finland, Belgium, and the Netherlands (the “Territories”).
Pursuant to the Term Sheet, the parties agree, among other things (i) to
negotiate in good faith a detailed distribution agreement or distribution
agreements (the “Distribution Agreement” or “Distribution Agreements”) for the
exclusive marketing and distribution of PreHevbri™ in the Territories by Valneva
and its affiliates, with the aim to finalize such discussions and to execute a
final contract or contracts on or before November 1, 2022, (ii) VBI shall grant
to Valneva during the term of any of the Distribution Agreements, the exclusive
right and option to negotiate and enter into one or several Distribution
Agreements for Canada, Austria and/or France, (iii) VBI shall sell PreHevbri™ to
Valneva at the price set forth in the relevant Distribution Agreement(s) and
Valneva shall purchase minimum annual quantities set forth in the relevant
Distribution Agreement(s), and (iv) VBI shall to grant to Valneva during the
term of the Distribution Agreements, the exclusive right to distribute, market
and sell PreHevbri™ in the Territories. The initial term will be three years
with an option to extend for two additional years upon mutual agreement of the
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits Exhibit No. Description 99.1 Press Release, dated September 8, 2022 (furnished pursuant to Item 7.01) 104 Cover Page Interactive Data File (formatted as Inline XBRL)
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