VBL Therapeutics Announces Agreement to Sell Manufacturing Facility and Certain Related Assets for $7.1 Million in Cash

MODIIN, Israel and NEW YORK, Feb. 16, 2023 (GLOBE NEWSWIRE) -- VBL Therapeutics (Nasdaq: VBLT), a biotechnology company developing targeted medicines for immune-inflammatory diseases, announced today that it has entered into an agreement to monetize its manufacturing facility in Modiin, Israel and certain related assets, for $7.1 million in cash. VBL also has the right to sell certain equipment excluded from the agreement for additional cash consideration. The asset sale is subject to customary closing conditions and expected to close on or about March 9, 2023.

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