SciVac becomes publicly traded company
Dr. Phillip Frost, the chairman and CEO of Opko Health, reportedly wanted to restructure the privately held SciVac. The company's main product is Sci-B-Vac, a third-generation hepatitis B vaccine approved for use in 10 countries and already administered to more than 500,000 patients in these regions.
Under a deal that was finalized on July 10 and included Levon Resources Ltd., a gold and precious metals exploration company, Opko received more than 30 percent of the company's outstanding common shares while its remaining owners received 68.4 percent of the shares.
With Sci-B-Vac showing promise and Frost bringing a number of institutional and individual investors along as followers, analysts are predicting a bright future for the newly listed SciVac.