PaxVax has entered into a definitive agreement to be acquired by Emergent BioSolutions. PaxVax is majority owned by an affiliate of Cerberus Capital Management, L.P.
The agreement will create a focus on protecting against emerging and overlooked infectious diseases through the development and commercialization of novel specialty vaccines, while ensuring uninterrupted supply of Vaxchora and Vivotif.
"We are very pleased to unite two companies with a shared mission --- protecting civilian and military populations with innovative vaccines addressing a broad range of public health threats," said Nima Farzan, Chief Executive Officer and President of PaxVax. "Bringing together PaxVax's rich portfolio of commercialized vaccines and robust pipeline of vaccines for diseases including adenovirus and chikungunya, with Emergent's global capabilities will create the world's largest independent specialty vaccine company."
PaxVax has integrated capabilities across R&D, manufacturing and commercial operations that add significant value to Emergent's core business. The combined company will support the development of even more vaccines in areas of significant unmet need, with a commitment to addressing emerging and recalcitrant global health threats.
PaxVax marketed assets include Vaxchora, the only U.S. Food and Drug Administration (FDA) approved and Advisory Committee on Immunization Practice (ACIP) recommended vaccine for protection against cholera, a disease caused by Vibrio cholerae serogroup O1, and Vivotif, an oral vaccine for typhoid fever that is currently licensed for sale in 27 countries.
The acquisition is subject to customary closing conditions, including U.S. antitrust regulatory approval, and is expected to close in the fourth quarter of 2018.