Advancing HBV Functional Cure Toward Key Phase 2b Data Readouts

Increasing Discovery Efforts to Drive Long-term Value Creation

Strong Cash Position Supporting Strategic Priorities

Upcoming Conference Calls: 
English Session: March 20 at 8:30 p.m. HKT / 8:30 a.m. ET 
Chinese Session: March 20 at 8:30 a.m. HKT / March 19 at 8:30 p.m. ET

DURHAM, N.C. and BEIJING, March 19, 2026 /PRNewswire/ — Brii Biosciences Limited (“Brii Bio,” “Brii,” or the “Company,” stock code: 2137.HK), a biotechnology company developing therapies to improve patient health and choice across diseases with high unmet medical need, today provided a corporate update and reported its financial results for the full year ended December 31, 2025.

2025 marked a year of strong execution and strategic progress for Brii Bio, with continued advancement of its late-stage hepatitis B virus (HBV) portfolio toward higher functional cure rates. The Company presented 24-week post end of treatment (EOT) follow-up data from Cohort 4 of its ongoing Phase 2b ENSURE study at the American Association for the Study of Liver Diseases (AASLD) The Liver Meeting^®, with simultaneous publication in Nature Medicine. These results support the potential of BRII-179 to improve functional cure outcomes across diverse patient populations. Leveraging insights from the ENSURE Cohort 4, Brii Bio amended the ENHANCE study protocol to evaluate an alternative triple combination regimen aimed at reducing the duration of pegylated interferon alpha (PEG-IFNα) treatment while maintaining efficacy. The confirmatory Phase 2b ENRICH and ENHANCE studies are now fully enrolled, with results expected to be announced in 2H 2026.

Alongside its HBV cure programs, Brii Bio has expanded its discovery efforts under the leadership of Chief Scientific Officer Dr. Brian Johns, who joined the Company in 2024. The Company has established robust in-house discovery capabilities, supported by an experienced discovery team, and wet lab operations in both Beijing and Shanghai. These capabilities leverage China’s strong drug discovery ecosystem anchored by both innovation and execution efficiency to advance Brii Bio’s early-stage pipeline while driving long-term value creation. The Company plans to disclose additional details on its discovery strategy and pipeline later this year.

Aligned with its evolving mission and strategy, the Company maintained disciplined financial management in 2025, including targeted adjustments to its operating structure and compensation framework to better align management incentives with long-term shareholder interests and business performance. Together with prudent capital allocation, the actions supported a strong cash position of US$276.1 million as of December 31, 2025, providing financial flexibility to advance both the Company’s HBV functional cure programs and growing discovery pipeline.

“2025 was a year of strong execution for Brii Bio as we continued to advance our HBV functional cure strategy,” said Dr. Zhi Hong, Chairman and Chief Executive Officer of Brii Bio. “The publication of our ENSURE study data in Nature Medicine underscores the scientific rigor behind our clinical approach and our long-standing commitment to improving outcomes for patients with chronic hepatitis B. At the same time, we strengthened our discovery capabilities to enable future pipeline expansion. By balancing near-term execution with long-term innovation, we are positioning the Company for durable portfolio growth and value creation.”

Clinical Program Updates

HBV Program

Brii Bio continues to advance its HBV pipeline with a strong focus on achieving higher rates of functional cure through novel combination regimens. The Company is progressing multiple ongoing Phase 2b combination studies (ENSURE, ENRICH and ENHANCE) evaluating its differentiated HBV therapeutics, including elebsiran, an HBV-targeting siRNA, and BRII-179, a recombinant protein-based HBV immunotherapeutic. 

• The Phase 2b ENSURE study is designed to assess the safety and efficacy of combination approaches aimed at improving functional cure outcomes.  Cohorts 1-3 evaluate elebsiran in combination with PEG-IFNα compared to PEG-IFNα monotherapy, while Cohort 4 evaluates the potential role of BRII-179 in identifying immunologically responsive patients and improving hepatitis B surface antigen (HBsAg) loss rates.

  In 2025, Cohort 4 demonstrated encouraging results with BRII-179.  Key data were presented at major international liver congresses including Asian Pacific Association for the Study of the Liver (APASL), the European Association for the Study of the Liver (EASL) Congress and AASLD The Liver Meeting^®, reinforcing BRII-179’s potential to contribute to functional cure improvements for chronic hepatitis B.

  Key findings included:

– Median baseline [range] HBsAg were numerically higher in BRII-179-induced anti-HBs responders (520 [34-2,165] IU/mL) compared with non-responders (185 [51-672] IU/mL).

– At 24 weeks post end of treatment (EOT), HBsAg loss was observed in 42.1% (8/19) of BRII-179-induced anti-HBs responders compared with 8.3% (1/12) of non-responders.

– While all participants with sustained HBsAg loss had baseline HBsAg below 1,500 IU/mL in the ENSURE study, 50% (4/8) of anti-HBs responders had baseline HBsAg levels between 1,514 and 3,086 IU/mL when enrolled in the previous study, suggesting BRII-179 may induce anti-HBs responses across a broader range of baseline HBsAg levels.

Long-term follow-up data from the ENSURE study are expected in 1H 2026 and will be presented at a future scientific conference.

• To further define the role of BRII-179 in HBV treatment and identify an optimal combination regimen for potential registrational development, the Company is evaluating BRII-179 in two additional ongoing Phase 2b studies.

– ENRICH Study: Evaluates the role of BRII-179 in priming HBV-specific immune responses and/or identifying immunologically responsive patients with a higher likelihood of achieving functional cure.

– ENHANCE Study: Evaluates a triple combination treatment regimen of BRII-179 and elebsiran plus PEG-IFNα to enhance the functional cure rate. Based on insights from ENSURE Cohort 4, the study protocol was amended to assess a simplified triple combination regimen designed to shorten PEG-IFNα treatment duration to 24 weeks.

All studies are now fully enrolled, with data from both the ENRICH and ENHANCE studies expected to be announced in 2H 2026.

• In parallel, the Company has engaged with the Center for Drug Evaluation (CDE) of National Medical Products Administration (NMPA) to discuss potential Phase 3 study designs and primary endpoints. Results from the ongoing ENRICH and ENHANCE studies are expected to inform future registrational development decisions.

Additional Clinical Programs

• In July 2025, Brii Bio announced a strategic out-licensing agreement with Joincare Group for the research, development, and commercialization of soralimixin in the Greater China region. The collaboration leverages Joincare Group’s established capabilities in anti-infective therapeutics to accelerate development and maximize the commercial potential of soralimixin. The Company retains rights outside of Greater China and continues to pursue non-dilutive funding and additional partnership opportunities.
• Brii Bio is also actively seeking external partnerships to advance the development and commercialization of its long-acting candidates for treatment and prevention of HIV.

Discovery Program Updates

• By the end of 2025, Brii Bio operated a translational research laboratory in Beijing and established a state-of-the-art, fully integrated discovery laboratory in Shanghai, supported by a discovery team of experienced industry professionals. Leveraging its global R&D footprint across China and the United States, Brii Bio aims to combine the innovation and execution efficiency of China-based R&D with deep global expertise in drug discovery and development. This operating model enables rapid translation of scientific insights into testable therapeutic hypotheses, efficient target selection, and consistent advancement of early-stage programs through key discovery milestones.
• In December, Brii Bio announced its collaboration with OpenBench, leveraging its artificial intelligence (AI) platform to accelerate the Company’s discovery efforts.
• Additional updates on Brii Bio’s new discovery programs are expected throughout 2026 as we advance towards the clinic.

Other Corporate Updates

As part of its continued focus on strengthening alignment between management incentives and long-term shareholder interests, the Board approved a reduction plan for senior management’s annual bonus arrangements for 2025 and 2026. Under this plan, in each of these years, the Company’s total compensation expense for executive annual bonuses will be significantly reduced to approximately one-quarter of the original level. This action reinforces the Company’s commitment to disciplined financial management and aligns management compensation more closely with business performance, capital market outcomes, and long-term shareholder value creation.

Outlook

Looking ahead, the Company remains focused on disciplined execution and continued innovation to advance both its late-stage HBV programs and early-stage discovery efforts. Clinical data readouts from the Phase 2b ENRICH and ENHANCE studies, anticipated in 2026, are expected to inform key development and registrational pathway decisions for the HBV portfolio, consistent with the Company’s long-standing commitment to achieving a functional cure for chronic hepatitis B.

Supported by an agile operating structure, strengthened internal capabilities, and a strong cash position, the Company is well positioned to build a differentiated profile over time through disciplined execution and a long-term strategic perspective.

Full Year 2025 Financial Results 

• Bank deposits and cash and cash equivalents were RMB1,941.0 million as of December 31, 2025, representing a decrease of RMB472.4 million or 19.6% compared with RMB2,413.4 million as of December 31, 2024. The decrease was primarily due to payout of daily operations, research and development activities and acquisition of BRII-179-related assets.
• Revenue was RMB18.6 million for the year ended December 31, 2025, primarily attributable to the upfront payment received under an intellectual property license and technology transfer agreement entered into with Joincare Group.
• Other income was RMB68.8 million for the year ended December 31, 2025, representing a decrease of RMB72.6 million or 51.3% compared with RMB141.4 million for the year ended December 31, 2024. This was mainly due to the decrease in bank interest income of RMB35.6 million attributable to the declining interest rates on USD and HKD time deposits and the RMB33.0 million decrease in recognized income from government grants.
• Research and development expenses were RMB212.9 million for the year ended December 31, 2025, representing a decrease of RMB36.9 million or 14.8% compared with RMB249.8 million for the year ended December 31, 2024. The decrease was primarily attributable to the decrease in third party contracting cost of RMB21.0 million [as the Company continued to prioritize HBV functional cure program, partially offset by increased investment in early discovery programs to support future pipeline growth]. The decrease was also attributable to the decrease in employee cost of RMB16.2 million, mainly resulting from organizational optimization and adjustments to the senior management compensation framework during the Reporting Period.
• Administrative expenses were RMB109.5 million for the year ended December 31, 2025, representing a decrease of RMB43.7 million or 28.5% compared with RMB153.2 million for the year ended December 31, 2024. The decrease was primarily attributable to the decrease in employee cost of RMB24.8 million and professional fees of RMB10.4 million. The decrease was primarily due to organizational optimization, adjustments to the senior management compensation framework and effective cost control during the Reporting Period.
• Loss for the year was RMB224.1 million for the year ended December 31, 2025, representing a decrease of RMB288.3 million or 56.3% compared with RMB512.4 million for the year ended December 31, 2024. The decrease in loss was primarily attributable to a reduction in fair value loss on equity investment of RMB124.5 million and a decrease in impairment losses of RMB141.1 million, which were largely non-operating in nature, as well as lower operating expenses. The decrease in loss was partially offset by the decrease in other income during the Reporting Period.

Conference Call Information

The Company will host two live conference calls. The Chinese session will be held on March 20 at 8:30 a.m. HKT (8:30 p.m. ET on March 19). For the registration link, please click here.  Followed by an English session on March 20 at 8:30 p.m. HKT (8:30 a.m. ET). For the registration link, please click here.

All participants are required to complete the online registration process using the applicable link prior to the conference call. A replay of each of the conference call will be available following the live event and can be accessed by visiting the Company’s website at www.briibio.com under the Investor Relations section.

This press release contains references to third-party information. Such information is not deemed to be incorporated by reference in this press release. Brii Bio disclaims responsibility for such third-party information.

About Brii Bio

 Brii Biosciences Limited (“Brii Bio,” stock code: 2137.HK) is a biotechnology company developing therapies to improve patients’ health by addressing high unmet medical needs with limited treatment options. The Company is advancing a broad pipeline of unique therapeutic candidates with lead programs against hepatitis B virus (HBV) infection.  The Company is led by a visionary and experienced leadership team and has operations in key biotech hubs, including Raleigh-Durham, the San Francisco Bay Area, Beijing and Shanghai. For more information, visit www.briibio.com.

Forward-Looking Statement

 The information communicated in this press release contains certain statements that are or may be forward-looking. These statements typically contain words such as “will,” “expects,” “believes,” “plans” and “anticipates,” and words of similar import. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There may be additional material risks that are currently not considered to be material or of which the Company is unaware. These forward-looking statements are not a guarantee of future performance. Against the background of these uncertainties, readers should not rely on these forward-looking statements. The Company assumes no responsibility to update forward-looking statements or to adapt them to future events or developments.

HONG KONG, March 19, 2026 /PRNewswire/ — For generations growing up in Asia, anime has been more than just entertainment — it has been a defining part of everyday life. In Hong Kong, it is neither unfamiliar nor niche. From television broadcasts and manga bookstores to large-scale conventions that draw thousands each year, anime has long been embedded in the collective memory of multiple generations. Yet despite its strong presence, it has often been categorised as “subculture”— highly visible, but rarely recognised as a cultural domain worthy of long-term development. In recent years, this perception has begun to shift.

With the rise of streaming platforms, Japanese anime and manga have become increasingly accessible across borders, significantly expanding their global audience. At the same time, in markets such as Japan, South Korea and the West, anime has moved beyond the screen, intersecting with exhibitions, art, fashion, music, and broader urban culture. It is evolving into a cultural language that can be experienced, participated in and shared.

For a new generation of fans, anime is no longer just entertainment content. Characters, narratives and the values embedded within these works often serve as vehicles for emotional projection and identity formation. The relationship between fans and content has deepened — from passive consumption to meaningful cultural connection. This shift is also reshaping fan behaviour.

Sion Yip, Founder and CEO of INCUBASE Studio, observes: “Today’s anime fans are no longer satisfied with simply purchasing merchandise, taking photos or consuming content. They want immersive experiences — through exhibitions, events and interactive formats — that allow them to step into the worlds of these works and build deeper emotional connections with the characters and stories.”

From a global industry perspective, a clear trend is emerging: anime-related initiatives are gradually shifting from short-term activations to sustainable cultural platforms and experiential spaces. Fans increasingly seek not a one-time event, but a place they can revisit — where experiences can accumulate and evolve over time.

In Hong Kong, however, such dedicated cultural spaces have historically been limited. Anime-related activities have largely taken the form of one-off consumption experiences: short-term exhibitions, mall pop-ups or large-scale conventions. While effective in generating foot traffic and buzz, these events are inherently transient. Once they end, engagement fades, making it difficult to sustain long-term cultural relationships.

As Sion notes: “Hong Kong has long had a mature anime culture and a large fan base. Yet most local anime activities are tied to shopping malls or exhibition venues and operate on a temporary basis. Many fans have been looking for a dedicated space — whether to experience exhibitions, participate in events, discover merchandise, or simply connect with the culture.”

Against this backdrop, INCUBASE Studio established INCUBASE Arena in Hong Kong in 2024 as a dedicated anime cultural experience hub. By continuously introducing exhibitions, themed events and related experiences under one roof, INCUBASE Arena aims to create an environment where anime culture can thrive over time. This allows for deeper engagement between fans and content, moving beyond one-off consumption toward a sustained and growing community.

Such spaces can develop into cultural destinations within a city. For local audiences, they become regular spots to visit; for tourists, they serve as entry points to understanding the city’s anime culture.

Sion adds: “When anime culture is anchored in a representative physical space within a city, it becomes more than just a gathering point for fans — it also becomes a cultural attraction for visitors. In many cities, anime landmarks have gradually evolved into tourism destinations, integrating anime into the city’s cultural identity and travel experience.”

Fan culture across the globe increasingly emphasises experience, community and emotional connection. Beyond Hong Kong, INCUBASE Studio has established INCUBASE Arena locations in Kuala Lumpur and Taipei, with plans to expand into South Korea and Thailand, as well as further across Asia and into Western markets.

Anime is no longer just part of the content industry — it is becoming an emotional medium that connects fans, cities and culture. Its future development will depend not only on the creation of new works, but also on whether cities can provide spaces where this culture can be continuously experienced, shared, and sustained.

For more information:
www.incubasestudio.com

TOKYO, March 19, 2026 /PRNewswire/ — The premier solar event, PV EXPO 2026, concluded today at Tokyo Big Sight. BILIGHT, a global leader in flexible perovskite technology, delivered a standout performance with its “AI-Powered” product series. By showcasing a comprehensive strategy that merges space-grade photovoltaics (PV) with intelligent applications, the company secured significant partnership agreements and established a new industry benchmark for smart perovskite deployment.

Space-to-Earth Synergy: “Solar Wing” Captures Global Industry Attention

Throughout the three-day exhibition, the BILIGHT booth attracted over a thousand visitors, including global merchants, media, and industry experts. The centerpiece was the global debut of the “Solar Wing”—a space-grade perovskite PV product that breaks the rigid and heavy limitations of traditional crystalline silicon.

The “Solar Wing” features real-time sun tracking and adaptive power regulation, ensuring stable and efficient power generation even in extreme environments, such as high-altitude platforms or irregular urban structures. Its ultra-thin, flexible design allows it to adapt seamlessly to complex surfaces, positioning it as an ideal energy solution for the AI era.

Smart Scenarios: Flexible PV Curtains Powering Modern Life BILIGHT also demonstrated its commitment to civil applications with its flexible rollable PV curtains. This innovation integrates high-performance perovskite cells with AI-driven smart home systems. Beyond shading and insulation, the curtains autonomously convert solar energy into electricity to power smart devices and AI terminals directly. This “plug-and-play” solution sparked intensive discussions with architectural developers and AI hardware manufacturers regarding the commercialization of “PV + AI” in residential settings.

Accelerating the Vision: Capital and Industry Recognition

The company’s technical prowess and AI-centric ecosystem earned strong validation from international investors. Analysts noted that BILIGHT’s ability to bridge space technology with civil distribution addresses the core pain points of perovskite commercialization.

As the expo concludes, BILIGHT is accelerating its mission to “Power AI” with clean energy. Through continuous innovation, the company aims to make sustainable power more intelligent and accessible, ensuring it serves as the foundational drive for the intelligent era across all scenarios.

TOKYO, March 19, 2026 /PRNewswire/ — Asia’s leading PV Expo 2026 closed in Tokyo after a three-day run. BILIGHT, a global leader in flexible perovskite solar cells, stole the spotlight with its perovskite-powered product lineup that empowers AI. Centered on its “Space + Home” full-scene strategy, the company secured overwhelming visitor interest and numerous major partnership intentions, emerging as a standout performer and setting a new benchmark for perovskite industry intelligence.

The highlight was the world-debut “Solar Wing”—a space-grade perovskite solution. It fundamentally resolves traditional silicon’s weaknesses in weight, rigidity, and adaptability. Supporting real-time tracking and adaptive power regulation, it delivers stable, high-efficiency generation under extreme space conditions and complex terrestrial environments. Its ultra-thin, bendable design perfectly fits curved satellites and irregular buildings, earning high acclaim from global integrators as the premier choice for perovskite-enabled AI energy systems.

BILIGHT also showcased its roll-up perovskite solar curtains, integrating seamlessly with AI smart homes. Beyond shading and insulation, they generate electricity to power appliances and terminals, enabling “self-generation, self-consumption, ready-to-use.” The design attracted heavy inquiries from BIPV, AI hardware, and new energy firms, with several partnerships in the works to bring clean energy from labs to households.

Leading investors praised BILIGHT for building a comprehensive perovskite ecosystem spanning aerospace and civil applications, solving key industrialization challenges. With Expo 2026 concluded, BILIGHT has validated perovskite’s potential to empower AI across all scenarios. Going forward, it will accelerate the deployment of AI-driven clean energy systems, making smart, accessible power a reality everywhere.

HANOI, Vietnam, March 19, 2026 /PRNewswire/ — Viettel Group has been ranked as the world’s strongest telecom brand, achieving a Brand Strength Index (BSI) score of 89.9/100 and an AAA+ rating, the highest level awarded by Brand Finance.

This milestone marks a significant breakthrough for Viettel after two consecutive years in second place, officially securing the top global position in telecom brand strength. The result is considered notable, as it places a Vietnamese telecom operator ahead of many long-established international brands in terms of customer trust and brand perception.

According to Brand Finance, it is important to distinguish between brand value and brand strength, two concepts that are often confused. Brand value represents the financial worth of a brand, typically linked to revenue, profitability, and expected future growth. In contrast, brand strength reflects how customers perceive and engage with the brand. It measures factors such as trust, reputation, preference, and the likelihood of customers recommending the brand to others. Brand strength is assessed through extensive market research and is a key driver influencing overall brand value.

In the 2026 rankings, Viettel’s BSI score of 89.9/100 is the highest recorded among leading telecom brands over the past three years. This demonstrates not only strong brand recognition but also a deep level of customer trust and emotional connection. Viettel’s consistent performance across multiple perception metrics has enabled it to surpass competitors and take the top position globally.

Mr. Lorenzo Coruzzi, Valuation Director at Brand Finance, commented:

“Viettel scores exceptionally well across key research metrics, particularly in reputation, reliability, and recommendation. This demonstrates that the brand not only has high visibility but also a strong and meaningful connection with its customers in its home market.”

In terms of brand value, Viettel is currently valued at USD 7.9 billion, making it the largest telecom company in Southeast Asia. The Group is also ranked among the top 20 telecom brands globally and remains the only Vietnamese enterprise included in the Global 500 ranking, further reinforcing its growing presence on the international stage.

Founded in 1996 and headquartered in London, Brand Finance is the world’s leading brand valuation consultancy, with operations in more than 20 countries. Each year, the firm evaluates over 70,000 brands worldwide, providing independent insights into brand performance across industries and markets.

Brand Finance is also the only organization whose valuation methodology complies with ISO 10668, the international standard for brand valuation. Under this framework, brand value is determined based on three key components: the Brand Strength Index (BSI), industry royalty rates, and forecasted revenues. This standardized approach ensures that brand valuations are transparent, consistent, and widely accepted in financial, auditing, and strategic decision-making contexts.