PaxVax has secured up to $60 million in new financing and acquired the oral typhoid vaccine Vivotif® from Crucell as well as its manufacturing facility in Thörishaus, Switzerland. Additionally, PaxVax is acquiring marketing, sales, and distribution capabilities in select markets including the U.S. and certain other assets related to travel vaccines such as hepatitis A.
“Typhoid is one of the most commonly delivered travel vaccines, and this strategic transaction establishes PaxVax as an important supplier globally. The manufacturing and sales channel for Vivotif is highly complementary to those for our cholera vaccine candidate, currently finishing Phase III clinical trials, and the site and production assets we are acquiring lay a strong foundation for further growth,” said Kenneth Kelley, CEO of PaxVax. “We are delighted to welcome our new Swiss colleagues and a site with such long standing heritage in vaccines to the PaxVax team. Their work will be central to helping us build and commercialize a world-class portfolio of specialty vaccines.”
Through this acquisition, PaxVax assumes manufacturing, sales, regulatory and distribution responsibilities related to the global supply of Vivotif including approximately 80 employees worldwide.
Vivotif was approved by FDA in 1989 and is currently for sale in 27 countries. Financing for the transaction was provided by an investment fund managed by Pharmakon Advisors.
PaxVax has focused on the acquisition and development of effective, safe, affordable, and easy-to-administer vaccines for travelers. PaxVax’s vaccine candidate for cholera, PXVX0200, is nearing completion of its Phase III clinical trials and was granted FDA Fast Track designation. PaxVax also intends to develop a hepatitis A vaccine for travelers and has a pipeline of early-stage travel vaccine candidates for dengue, malaria, and rabies.