THURSDAY, SEPTEMBER 29, 2016

PaxVax acquires Crucell's typhoid vaccine

Specialty vaccine company PaxVax, Inc., announced on Monday that it acquired the oral typhoid vaccine Vivotif from Crucell Switzerland AG.

PaxVax also gained Crucell's manufacturing facility near Bern, Switzerland as part of the deal, the company said in a statement.

"We are delighted to welcome our new Swiss colleagues and a site with such long standing heritage in vaccines to the PaxVax team," Kenneth Kelley, the CEO of PaxVax, said. "Their work will be central to helping us build and commercialize a world-class portfolio of specialty vaccines."

As part of the sale, PaxVax will assume the manufacture, sale and distribution of Vivotif, including approximately 80 employees. PaxVax also acquired other assets related to travel vaccines.

Financing for the acquisition was provided by investment firm Pharmakon Advisors. The financial terms of the deal were not disclosed.

Vivotif was approved by the U.S. Food and Drug Administration in 1989 and is currently approved in 27 countries globally.

PaxVax was founded in 2007 and specializes in both travel and biodefense vaccines. The company is currently nearing completion of a vaccine for cholera.

"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," Kelley said.