June 05, 2012 9:11am EDT
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MIAMI--(BUSINESS WIRE)--
OPKO Health, Inc. (NYSE: OPK) has entered into a definitive agreement to
acquire a forty-five percent stake in a 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. The
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 non 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 FDS Pharma LLP, a
manufacturer of active pharmaceutical ingredients for Russian and other
markets. FDS acquired the company in the first quarter of 2012,
including its Rehovot hepatitis vaccine manufacturing plant, vaccine
production and marketing rights, from SciGen Limited, a Singapore
biotechnology company publicly listed on the Australian Stock Exchange
(ASX: SIE). Financial terms of the transaction were not disclosed.
About OPKO Health, Inc.
OPKO is a multi-national biopharmaceutical and diagnostics company that
seeks to establish industry-leading positions in large and rapidly
growing medical markets by leveraging its discovery, development and
commercialization expertise and novel and proprietary technologies.
This press release contains "forward-looking statements," as that
term is defined under the Private Securities Litigation Reform Act of
1995 (PSLRA), which statements may be identified by words such as
"expects," "plans," "projects," "will," "may," "anticipates,"
"believes," "should," "intends," "estimates," and other words of similar
meaning, including statements regarding the acquisition and the benefits
of the Sci-B-Vac, as well as other non-historical statements about our
expectations, beliefs or intentions regarding our business, technologies
and products, financial condition, strategies or prospects. Many factors
could cause our actual activities or results to differ materially from
the activities and results anticipated in forward-looking statements.
These factors include those described in our filings with the Securities
and Exchange Commission, that the various conditions to the closing of
the transaction may not be met, and risks inherent in funding,
developing and obtaining regulatory approvals of new,
commercially-viable and competitive products and treatments. In
addition, forward-looking statements may also be adversely affected by
general market factors, competitive product development, product
availability, federal and state regulations and legislation, the
regulatory process for new products and indications, manufacturing
issues that may arise, patent positions and litigation, among other
factors. The forward-looking statements contained in this press release
speak only as of the date the statements were made, and we do not
undertake any obligation to update forward-looking statements. We intend
that all forward-looking statements be subject to the safe-harbor
provisions of the PSLRA.
OPKO Health, Inc.
Steven D. Rubin, 305-575-4100
Source: OPKO Health, Inc.
Released June 5, 2012
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