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The acquisition is expected to support Emergent BioSolutions’ focus on public health threats and emerging infectious disease.
Emergent BioSolutions announced on Aug. 9, 2018 that it has entered into an agreement to acquire PaxVax, a company focused on specialty vaccines that protect against existing and emerging infectious diseases, for an all-cash consideration of $270 million.
Upon the closing of the transaction, Emergent will acquire the following:
Emergent will also acquire European-based cGMP biologics manufacturing facilities from PaxVax as well as approximately 250 employees, including those in R&D, manufacturing, and commercial operations with a specialty salesforce. Gaining these facilities will expand Emergent’s international operations and contract development and manufacturing ability, according to Emergent.
This transaction is subject to customary closing conditions, including antitrust regulatory approval, and is expected to close in the fourth quarter of 2018.
Source: Emergent BioSolutions