VBI Vaccines, SciVac deal

SciVac will acquire vaccine company VBI in a stock deal. The combined company will change its name to VBI Vaccines Inc. and focus on developing vaccines for infectious diseases and cancer. Each VBI share will convert into 20.8 SciVac shares. SciVac shareholders will own a 54% stake in the combined company, and VBI shareholders will own a 46% stake. The board of both companies approved the deal, which is subject to shareholder approval of both companies and the completion of a $25 million financing by the combined company. The deal is expected to close in 1Q16. ...