VBI Vaccines Inc. (Nasdaq: VBIV) (“VBI”) and SciVac Therapeutics Inc. (TSX:VAC and OTCQX:SVACF) (“SciVac”) announced today that the registration statement on Form F-4 filed with the U.S. Securities and Exchange Commission (“SEC”) by SciVac on December 23, 2015, as amended (the “SciVac F-4”), which includes a combined proxy statement/prospectus (the “VBI Proxy”), was declared effective on April 8, 2016. The SciVac F-4 relates to the previously announced proposed merger transaction pursuant to which a wholly owned subsidiary of SciVac would merge with and into VBI, with VBI surviving the merger as a wholly owned subsidiary of SciVac (the “Proposed Merger”), at which time SciVac would change its name to VBI Vaccines Inc.

VBI has scheduled a special meeting for its stockholders on Thursday, May 5, 2016 at 10:00 AM ET at its corporate headquarters in Cambridge, MA. At the meeting, VBI will seek stockholder approval of the Proposed Merger. Stockholders of record at the close of business on Tuesday, March 22, 2016, are entitled to attend and vote at the meeting in person or by proxy.

VBI expects to begin mailing the VBI Proxy to its stockholders on or before April 15, 2016. The VBI Proxy provides VBI’s stockholders with information related to the Proposed Merger, as well as voting instructions.

VBI and SciVac expect to complete the Proposed Merger promptly following receipt of approval of the Proposed Merger by VBI stockholders, subject to other customary closing conditions. SciVac shareholders previously approved the Proposed Merger at a special meeting held in Vancouver, British Columbia, Canada on Friday, January 29, 2016.