PaxVax Inc., a San Diego, Calif.-based developer of vaccines against infectious diseases, has completed a $22m Series B financing round.
The round was led by Ignition Growth with participation from existing investor Ignition Ventures as well as new investors Blue Haven Initiative.
The company intends to use the capital to continue to fund the recently initiated Phase 3 clinical trial program for its single-dose oral cholera vaccine candidate, PXVX0200 (also known as CVD 103-HgR). Approximately 3,000 participants will be enrolled in this pivotal international program, which is comprised of cholera challenge, safety, and immunogenicity studies.
These studies are being conducted in the U.S., Australia, and Canada for use of PXVX0200 as a traveler’s vaccine.
PXVX0200 has been granted Fast Track designation by the U.S. Food and Drug Administration.
Established in 2007 and led by Ken Kelley, Chief Executive Officer, PaxVax also said that the company had previously converted $35m of convertible debt received from 2010 to 2012.