OPKO Health to acquire 45% stake in Israeli hepatitis B vaccine maker

6 June 2012

Miami, USA-based OPKO Health (NYSE: OPK) has entered into a definitive agreement to acquire a 45% stake in an unnamed private Israeli company that produces a third-generation hepatitis B vaccine - Sci-B-Vac - in its state of the art biologics manufacturing facility in Rehovot. Financial terms of the transaction were not disclosed.

Sci-B-Vac is a recombinant mammalian cell produced next generation vaccine which has in multiple clinical studies demonstrated enhanced antibody response in a population of documented none and low-responders for which conventional hepatitis B vaccines do not elicit adequate antibody production. In addition, studies indicate that the vaccine induces rapid seroprotection and can be used for immunotherapy of chronic hepatitis B. Sci-B-Vac is currently marketed in Israel and has received marketing authorizations in several countries.

OPKO acquired its stake in the company from UK-based FDS Pharma, a manufacturer of active pharmaceutical ingredients for Russian and other markets. FDS acquired the company from Singapore-based biotech firm SciGen (ASX: SIE) in the first quarter of 2012.

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