Hawaii Biotech Inc. was awarded a three-year, $2.9 million grant from the National Institute of Allergy and Infectious Disease to continue development of a vaccine to protect healthy individuals from tick-borne encephalitis.

Hawaii Biotech also is conducting research on vaccine candidates for dengue virus and West Nile virus.

"This support will allow us to complete preclinical development and move forward toward clinical testing of our tick-borne encephalitis vaccine candidate," said Elliot Parks, CEO of Hawaii Biotech Inc.

Tick-borne encephalitis, present in many parts of Europe, the former Soviet Union and Asia, is a member of a family of viruses that includes dengue, Japanese encephalitis, West Nile and yellow fever, according to a news release from Hawaii Biotech.

MACADAMIA NUT GROWER LOSES $291,000

ML Macadamia Nut Orchards L.P., the world's largest grower of premium macadamia nuts, reported its second-quarter loss narrowed from a year earlier, helped by lower expenses.

The Hilo-based company said its net loss was $291,000, or 4 cents per Class A Unit.

That compared with a year earlier net loss of $398,000, or 5 cents per unit.

The company said lower nut revenues and a drop in revenues from farm services depressed sales to $1.02 million for the quarter from $1.60 million a year before.

But the company also cut its costs of goods and services, helping to produce a smaller loss.