SciVac also says 10 percent of newborn babies and 25 percent of adults over 40 do not respond to the older products.
"It (Sci-B-Vac) looks the same as the virus itself. The immune system cannot ignore it, so it gives full protection," Michal Ben-Attar, chief executive of SciVac, told Reuters, adding that Sci-B-Vac is virtually 100 percent effective against HBV in newborns.
SciVac has distributed more than a half-million doses of its vaccine since 2009. It is also registered for use in India, Hong Kong, Vietnam, the Philippines and some African countries.
Ben-Attar said SciVac is on the verge of signing a distribution agreement for the product in India. Although HBV is most prevalent in developing countries, Ben-Attar said it is tough to sell in such markets because they prefer cheaper alternatives.
She said Sci-B-Vac is being sold at prices that are competitive with Engerix despite it being expensive to produce.
SciVac had revenue of $10 million in 2012 and Ben-Attar said it will break even by the end of 2013 before moving into the black in 2014.
The CEO expects the company to seek a public share offering - possibly on Nasdaq - after breaking even, at which point it could be valued at between $600 million and $1 billion.
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