Source: The Wall Street Journal
Publication Date: December 9, 2015
Private-equity firm Cerberus Capital Management has invested $105 million in PaxVax Inc., a maker of specialty vaccines, Amy Or reports for Dow Jones VentureWire. The private-equity firm will hold a majority stake of the company’s shares after the deal closes. Previous investors, including Ignition Growth Capital, will remain minority shareholders. The company said Cerberus’s investment will allow PaxVax to eliminate debt, focus on its business plan including the growth of typhoid fever vaccine Vivotif and launch its single-dose oral vaccine for cholera, which met primary endpoints in a Phase III trial late last year.