Cerberus Investment Represents a Majority Economic Interest in the Company; Company Benefits from Increased Capital Base, Facilitating Focus on Long-term Growth

REDWOOD CITY, Calif. and NEW YORK, Dec. 8, 2015 /PRNewswire/ -- PaxVax, Inc. ("PaxVax"), a Redwood City, California-based specialty vaccine company, today announced that an affiliate of Cerberus Capital Management, L.P. ("Cerberus") has acquired a majority economic interest in the company. As part of the transaction, Ignition Growth Capital ("Ignition") and other existing investors will remain as minority shareholders in the company.

PaxVax is a fully integrated pharmaceutical company that specializes in the development, manufacture and commercialization of innovative vaccines against infectious diseases. The company has extensive research and development capabilities, a world-class manufacturing facility and an on-the-ground sales presence in the U.S. and across Europe. The PaxVax management team, which Cerberus will retain, has deep experience and demonstrated expertise in the development, manufacture and sale of vaccines.

Read the rest of the release