PaxVax Finds $62M For Vaccine Efforts

PaxVax, a biopharmaceuticals company developing vaccines for infectious disease, has raised $62M in a funding round. The funding included $50M in secured debt from Pharmakon Advisors, and $12M in a Series B extension round. The company is backed by Ignition Ventures, Ignition Growth Capital and the Blue Haven Initiative. According to PaxVax, the new equity funding brings its total to $80M in equity raised by the company. The new funding goes towards the acquisition of an FDA-approved oral typhoid vaccine, plus further clinical development efforts. PaxVax has its research, development, and manufacturing facilities in San Diego, although it is based in Redwood City. More information »