Emergent BioSolutions To Acquire Specialty Vaccines Company PaxVaxBy
Emergent BioSolutions, a Rockville, Maryland-based specialty biopharmaceutical company and contract manufacturer, has agreed to acquire PaxVax, a Redwood City, California-based company focused on specialty vaccines for existing and emerging infectious diseases, for $270 million in cash.
Upon the closing of the transaction, Emergent will acquire vaccines, vaccine candidates, manufacturing facilities, and employees from PaxVax. Specifically, the company will acquire: Vivotif (typhoid vaccine live oral Ty21a), an oral vaccine licensed by the US Food and Drug Administration (FDA) for preventing typhoid fever, a potentially severe infection, and Vaxchora (cholera vaccine live oral), a FDA-licensed vaccine for preventing cholera, an intestinal disease. Vivotif is licensed for sale in 27 countries. Emergent will also acquire an adenovirus 4/7 vaccine candidate being developed for military personnel under contract with the US Department of Defense and additional clinical-stage vaccine candidates targeting Chikungunya and other emerging infectious diseases.
Emergent will also acquire Europe-based cGMP biologics manufacturing facilities as well as approximately 250 employees, including those in research and development, manufacturing, and commercial operations with a specialty salesforce.
Emergent says this transaction supports its strategy to grow through the acquisition of revenue-generating products and businesses that align with its focus on public health threats and emerging infectious diseases. In addition to commercial use, the two vaccines (Vivotif and Vaxchora) also have the potential to address governments’ needs to protect their military forces, according to Emergent.
This transaction, which is subject to customary closing conditions, including antitrust regulatory approval, is expected to close in the fourth quarter of 2018.
Source: Emergent BioSolutions