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Opko Health's Many Acquisitions Add Up to Varied Product Offerings and Potential Growth

VBI Vaccines - 25%

VBI develops vaccine candidates based on its proprietary eVLP (enveloped virus-like particles) and lipid particle vaccines (LPV) platform technologies. Based in Cambridge, Mass., VBI completed a merger with Sci-Vac Therapeutics in May 2016, and in June, Opko added to its position in the combined firm through participation in a $13.6 million equity private placement, along with institutional investors Perceptive Advisors and ARCH Venture Partners. VBI's first marketed product is Sci-B-Vac, a third-generation hepatitis B (HBV) vaccine approved for sale in Israel and 14 other countries outside the U.S. and European Union). VBI is currently evaluating a global development plan for Sci-B-Vac, including filing an IND for pivotal Phase 3 trials in both the U.S. and Europe sometime in late 2016 or early 2017. Even more active is the company's eVLP platform, including a vaccine program in cytomegalovirus (CMV) currently in phase 1 trials with interim data readout perhaps as early as the first half of next year, and pre-clinical programs for glioblastoma (GBM), medulloblastoma, and most recently Zika virus infection. Longer-term, VBI is developing its LPV platform, which includes an improved process for stability and access to vaccines and biologics, and to date, the company has signed collaborations with vaccine powerhouses GlaxoSmithKline, and Sanofi. VBI's market cap is now around $130 million, while many similar vaccine development stocks are valued at $300-$500 million. VBI may represent the best opportunity for Opko share value enhancement.

Pharmsynthez - 17% owned

Based in St. Petersburg, Russia, Pharmsynthez produces and sells both branded pharmaceuticals and active pharmaceutical ingredients in Russia, Ukraine, Georgia and other former CIS countries. In April, 2013, Opko acquired a 10% stake in the company, which at that time was the only life science stock listed on the Moscow Stock Exchange. Opko's purchase was part of a two-stage, $60 million financing, which included an investment by the state-owned Russian Corporation of Nanotechnologies. At that time, Opko announced that it was partnering with Pharmsynthez to develop and market several Opko products for sale in Russia and certain Eastern European markets, including CTAP101 capsules, a Vitamin D prohormone for secondary hyperparathyroidism in chronic kidney disease patients, as well as several diagnostic products, including the 4Kscore prostate cancer test. Pharmsynthez recently announced the completion of data analysis and follow-up of a Phase 2 study for its...