PaxVax

About PaxVax

PaxVax, Inc. operated as a specialty vaccine company, concentrating on the development and commercialization of treatments for infectious diseases, with a particular focus on travelers and biodefense. Founded in 2007 by Kenneth Kelley, the company was established with a dual mission: to achieve financial success while also making a social impact by ensuring global access to its vaccines. Kenneth Kelley, a seasoned entrepreneur with extensive experience in the life sciences and venture capital, guided the company in its early stages, leveraging his background from roles at K2 BioVentures, Latterell Venture Partners, and as founder of IntraBiotics Pharmaceuticals.

The company's business model revolved around acquiring and developing vaccines for niche markets that were often overlooked. Its primary clients included healthcare providers serving international travelers and government agencies focused on public health threats and biodefense. Revenue was generated through the sale of its licensed vaccines. A significant milestone for PaxVax was the acquisition of Vivotif, an FDA-approved oral vaccine for typhoid fever, from Crucell Switzerland AG in 2014. This acquisition marked a crucial step in the company's transition to a commercial-stage entity. Another key product was Vaxchora, the only FDA-licensed oral vaccine for cholera. These products were distributed through a global salesforce and various marketing partners.

Beyond its commercial products, PaxVax maintained a robust development pipeline. This included vaccine candidates for adenovirus, funded by the U.S. Department of Defense for military use, and chikungunya. The company utilized a proprietary adenoviral-based technology platform for developing oral vaccines. Over its lifetime, PaxVax raised significant capital, including a notable $105 million investment from Cerberus Capital Management in 2015, which resulted in Cerberus acquiring a majority economic interest. In August 2018, Emergent BioSolutions announced its intention to acquire PaxVax for $270 million in an all-cash deal, which was finalized in October 2018. This acquisition integrated PaxVax's product portfolio, development pipeline, and manufacturing facilities into Emergent's global operations, aiming to create a larger, more diversified specialty vaccine company.