Vaccine-producing biotech obtains debt financing

Cambridge, Massachusetts-based VBI Vaccines (formerly Variation Biotechnologies) recently raised $2.2 million in debt financing, according to Mass High Tech. This is the second time in the past year that VBI has acquired debt financing - the news source notes in a separate article that it raised $7.8 million back in July, when it was still operating as Variation.

Originally formed in Ottawa, Canada in 2001, the company relocated to Cambridge in 2007 following a $35.7 million financing round from a Boston venture capital firm also based out of Cambridge.

According to TechFinance, VBI is "a developer of safe and effective vaccines that expand and enhance vaccine protection in both established and emerging markets."

In September, the company acquired a French biotech firm called Epixis SA. Mass High Tech notes that Epixis makes Virus-Like Particle (VLP) vaccines, which VBI believes will complement its own vaccine technology research. The pair first came together in June 2010 to collaborate on a vaccine for cytomegalovirus, a type of herpes virus. Epixis is also in the process of developing a preclinical hepatitis-C vaccine.

A winner of three Practice Innovation awards, KLR has proven to be one of the most effective accounting firms in Boston for a variety of industries. Its Life Sciences team works with biotech and medical device companies to assist with startup services, tax planning and compliance, federal and state tax incentives, and merger preparation.