Cerberus Capital invests $105 million in PaxVax
Most of PaxVax’s vaccines are designed to protect people from infectious diseases. The company, which was founded in 2007, prioritizes using socially responsible methods for its productions. Because of these two priorities at PaxVax, the company can solve important but ignored traveler market needs with its late-stage, commercial vaccine candidates.
"This significant investment by Cerberus will allow PaxVax to eliminate debt and allow us to focus on the execution of our business plan such as growing the Vivotif business and launching Vaxchora," PaxVax CEO Nima Farzan said. "PaxVax has an exciting product pipeline in place, and we are looking forward to growing and being able to deliver new and important vaccines to patients long into the future with Cerberus, one of the world's most respected investment firms, as our partner."
These investments will help PaxVax increase its capital base. The funds will also be used to help the company focus on its goals for long-term growth.
"Cerberus is pleased to be able to make this investment in PaxVax, which has a management team with unparalleled expertise in the specialty vaccine business and a highly scalable platform to reach patients around the world," James Lenehan, a pharmaceutical industry veteran, said. "Our investments of capital and operational resources will allow PaxVax to realize the enormous potential of its products without the distractions and limitations of a highly levered capital structure."