VBI Vaccines Inc., formerly Paulson Capital Corp., is a biopharmaceutical company. The Company is engaged in the formulation, development and delivery of vaccines that expand and enhance vaccine protection. The Company's eVLP vaccine platform allows for the design of enveloped (e) virus-like particle (VLP) vaccines that closely mimic the target virus. The company's lead eVLP asset is a prophylactic Cytomegalovirus (CMV) vaccine. The Company has initiated work for manufacturing of its CMV candidate for use in formal preclinical and Phase I trials. The company's Lipid Particle Vaccine technology (LPV) is a vaccine formulation technology that enables the thermostabilization of vaccines through a formulation and freeze-drying process. The company has completed proof of concept thermostability studies on a number of vaccine and biologic targets.