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Greenberg Team Guides Merger Creating Company With a Biotech Pipeline

SciVac Therapeutics Inc.'s acquisition of VBI Vaccines Inc. involved different jurisdictions, accounting standards and stock exchanges.

That presented a series of challenges that the Greenberg Traurig team representing SciVac resolved, including a closing condition that the merged biotechnology companies be listed on Nasdaq.

The stock deal that closed May 6 is valued at $75 million, and SciVac has changed its name to VBI Vaccines.

"I have worked on significantly larger transactions that required significantly less effort," said Greenberg Traurig corporate and securities shareholder Drew Altman, who along with corporate and securities shareholder Robert Grossman and corporate and securities associate Indira Sordo, led the eight-attorney deal team.

The merger created a commercial stage company with a hepatitis B vaccine, Sci-B-Vac, that is approved for use in Israel and 14 other countries and is seeking approval in the U.S. and other markets. It also has a pipeline of preventative and therapeutic vaccine candidates and two novel technology platforms, the companies said when the deal was completed.

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