While progress has been made in recent decades infectious diseases continue to ravage large parts of the world: in 2010, cholera alone claimed over 100,000 lives.
And while Apple’s App Store now boasts more than 1 million apps for download, it is rare to see start ups venturing into the business of providing vaccines. One rare case is PaxVax, a socially responsible company that develops and commercializes innovative vaccines to fight against infectious diseases like cholera and H5N1. Founded in 2007, PaxVax raised a $22 million Series B round earlier this month to continue to study its Phase 3 clinical trial for its single-dose oral cholera vaccine, PXVX0200.
We are proud to announce that our client, Blue Haven Initiative, joined the round with a $3 million investment. Blue Dot attorneys assisted with the negotiation and structuring of the investment, as well as considerable amount of due diligence.
PaxVax has been granted Fast Track designation by the US Food and Drug administration for its clinical trial of PXVX0200. Roughly 3,000 participants will be enrolled in the cross-border trial as it is tested by US, Australian and Canadian travelers as a travel vaccine.