Financial Wire

Brii Biosciences Files US Arbitration Against Vir Biotech Over Elebsiran Deal; Shares Slip 5%

-- Brii Biosciences (HKG:2137) initiated arbitration proceedings in the U.S. against Vir Biotechnology over an alleged breach of a collaboration agreement, according to a Thursday Hong Kong bourse filing.

Shares of the drugmaker were down nearly 5% in Friday morning trade.

Brii alleges that Vir breached the agreements and is seeking, among other remedies, the transfer of manufacturing responsibilities for its hepatitis B drug candidate elebsiran, as well as damages, including lost profits and invested costs.

The company said the arbitration is at an early stage and it is unable to assess the financial impact at this time.

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