US firm PaxVax scores USD22 million in Series B for late-stage cholera vaccine

December 4
10:09 PM 2013

Menlo Park company PaxVax Inc scored USD22 million in a Series B funding round and converted USD35 million in debt. The firm will use the new capital for the Phase III trial of its cholera vaccine, according to San Francisco Business Times.

According to Chief Executive Officer Ken Kelly, the venture round was led by Ignition Growth and another previous investor. New investor Blue Haven initiative also participated in the round, the report said.

PaxVax is enrolling around 3.000 subjects for the late-stage study of its experimental vaccine PXVX-0200. This is a single-dose oral cholera vaccine designed for travelers. The company's subjects will come from the United States, Canada, and Australia, the report detailed.

Cholera is an intestinal infection contracted from contaminated food or water. The infection is caused by the Vibrio cholerae bacteria. The disease affects around 3 million to 5 million people every year, with over 100,000 deaths. There is no vaccine for those US travelers going to places where cholera is common. However, a two-dose treatment is available in Europe and other areas, San Francisco Business Times reported.

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