VBI Vaccines and SciVac Therapeutics have completed their merger transaction, whereby SciVac acquired VBI. VBI survives the merger as a wholly owned subsidiary of SciVac.

Upon completion of the merger, SciVac changed its name to VBI Vaccines Inc.

The merger creates a commercial stage company with an approved hepatitis B vaccine, a pipeline of preventative and therapeutic vaccine candidates, and two novel technology platforms.

Jeff Baxter, president and chief executive officer, VBI; David Anderson, chief scientific officer, VBI; and Jim Martin, SciVac’s chief financial officer, will continue in those same officer roles with the combined company. Curtis Lockshin, SciVac’s former chief executive officer, will assume the role of chief technology officer of the combined company.

“We are thrilled and excited to announce the completion of this merger, which we believe dramatically propels the future development of the assets within each legacy company,” said Mr. Baxter. “SciVac brings Sci-B-Vac, a licensed and marketed third-generation hepatitis B vaccine, which complements a highly innovative infectious disease pipeline of product candidates, the lead program of which targets cytomegalovirus. We feel incredibly fortunate to be able to contribute to the growth of Sci-B-Vac, a pioneering product that is approved in smaller markets, but we believe is capable of being scaled and developed in late-stage clinical trials in order to seek additional approvals in Europe, the United States, Japan, and other large markets.”

Following the merger, the combined company believes it will be well positioned to advance its infectious disease and immuno-oncology vaccine candidates, as well as its proprietary technology platforms.