VBI VACCINES INC. (TSE:VBV) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
On March 29, 2017, Variation Biotechnologies Inc. (VBI Cda), a
wholly-owned subsidiary of VBI Vaccines Inc. (the Company),
entered into an amendment (the Amendment), effective January 1,
2017, to its consulting agreement with F. Diaz-Mitoma
Professional Corporation to which Dr. Francisco Diaz-Mitoma
serves as the Companys Chief Medical Officer (the Consulting
Agreement). to the Amendment, (i) the term of the Consulting
Agreement was extended until December 31, 2017, constituting a
one year term, (ii) the cash consulting fee was increased from
CAD $40,000 to CAD $41,080 per month and (iii) VBI Cda agreed to
pay a performance-based bonus for 2016 services equal to USD
$115,733. In addition, VBI Cda agreed to cause the Company to
issue Dr. Diaz-Mitoma, as the designee of his professional
corporation, to the VBI Vaccines Inc. Incentive Plan, (a) 12,500
common shares of the Company and (b) 20,000 stock options to
purchase common shares of the Company, subject to the terms and
conditions of the applicable option agreement.
The foregoing description of the Amendment is qualified in its
entirety by reference to the full text of the Amendment, which is
filed with this Current Report on Form 8-K as Exhibit 10.2.
Item 7.01 Regulation FD Disclosure.
On March 30, 2017, the Company issued a press release. A copy of
the press release is furnished herewith as Exhibit 99.1 and
incorporated by reference in this Item 7.01.
The information disclosed under this Item 7.01, including Exhibit
99.1 hereto, shall not be deemed filed for purposes of Section 18
of the Securities Exchange Act of 1934, as amended, and shall not
be deemed filed with the U.S. Securities and Exchange Commission
(the SEC) nor incorporated by reference into any filing made
under the Securities Act of 1933, as amended, except as expressly
set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |
| 10.1 |
Consulting Agreement with F. Diaz-Mitoma Professional Corporation (incorporated by reference to Exhibit 10.42 to the annual report on Form 10-K (SEC File No. 001-37769), filed with the SEC on March 20, 2017). |
|
| 10.2* |
Amendment to Consulting Agreement with F. Diaz-Mitoma Professional Corporation. |
|
| 99.1** | Press Release dated March 30, 2017. |
* Filed herewith
** Furnished herewith
Indicates a management contract or compensatory plan.
About VBI VACCINES INC. (TSE:VBV)
VBI Vaccines Inc. is a development-stage biotechnology company. The Company’s principal products include cytomegalovirus (CMV) Vaccine Candidate, enveloped Virus Like Particle (eVLP) Vaccine Platform and Lipid Particle Vaccine (LPV) Vaccine Platform. The Company is also engaged in the research and development (R and D) activity. The Company’s subsidiaries includes Variation Biotechnologies (US), Inc. (VBI US) and Variation Biotechnologies Inc. (VBI Cda). VBI VACCINES INC. (TSE:VBV) Recent Trading Information
VBI VACCINES INC. (TSE:VBV) closed its last trading session 00.00 at 7.25 with 4,100 shares trading hands.
