Vaxin moves to Maryland
Vaxin Chief Executive Bill Enright said that the company is consolidating its lab space on the East Coast to be nearer to its sources of funding, as well as other vaccine developers. Vaxin was founded in 1997 as a spinoff from research conducted at the University of Alabama - Birmingham, according to BizJournals.com.
"It was a difficult decision because Birmingham is a great little place," Enright said, AL.com reports. "A lot of early success in the company has been in Alabama."
Enright said that the move will help Vaxin to cut costs overall. He also said that it will allow for Vaxin to cooperate better with the U.S. Department of Health and Human Services' Biomedical Advanced Research Development Authority, BizJournals.com reports.
In October, BARDA awarded Vaxin a $14.7 million grant to further development of its anthrax vaccine, with an additional $7 million available should the research continue to demonstrate successes.
Vaxin is known predominantly for developing vaccines that can be delivered non-invasively to the nasal passages or administered topically to the skin. The company's products use non-replicating adenovirus or bacterial vectors to stimulate an immune response.