Ignition Capital invests in San Diego maker of oral flu vaccine |
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Ignition Capital invests in San Diego maker of oral flu vaccine
Ignition Capital, the private equity arm of Bellevue's Ignition Partners, has taken a stake in a San Diego company called PaxVax. The company -- which according to a filing with the SEC has raised $2 million of a $6 million round -- is developing a way to administer the influenza vaccine through tablets that are ingested orally, rather than the more common method of receiving an injection administered by a health care professional.
The deal is interesting -- not only because of the heightened awareness this fall over the spread of the flu -- but also because it signals how Ignition Capital is looking for deals in a wide range of industries.
An offshoot of the venture capital firm Ignition Partners, Seattle-based Ignition Capital is focused on profitable later-stage companies.
And unlike the venture capital firm -- which primarily has invested in startup wireless, Internet and software companies -- the partners at Ignition Capital appear to have an appetite for a wide-range of industries.
The portfolio includes at least two companies in China: an education firm and a rental car company. It also includes SeaMobile, a provider of mobile communications services to ships at sea.
And the investment in PaxVax is not the first in the health care arena. Ignition Capital also holds a position in a Mercer Island-based operator of dialysis clinics.
The two health care deals have been led by Ignition Capital's Rennie Coit, the former COO at the UW Medical Neighborhood Clinics and former medical director of Regence Blue Shield. According to the SEC filing, Ignition Capital's Rich Tong also serves as a director of PaxVax.
[Hat tip to Xconomy]
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John Cook is co-founder and executive editor of TechFlash. He has been covering the technology beat for nearly a decade, writing about startups, entrepreneurs and venture capital, most recently serving as a reporter/blogger at the Seattle Post-Intelligencer.
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