Navigation Links
Delaware Court Denies Motion by SIGA Technologies Seeking to Dismiss PharmAthene's Legal Action in Breach of Contract Lawsuit Against SIGA
Date:1/16/2008

ANNAPOLIS, Md., Jan. 16 /PRNewswire-FirstCall/ -- PharmAthene, Inc., (Amex: PIP) a biodefense company developing medical countermeasures against biological and chemical threats, announced that the Delaware Chancery Court today issued a ruling denying a motion by SIGA Technologies to dismiss PharmAthene's complaint, which alleges that it has a right to an exclusive license to develop and market SIGA's drug candidate, SIGA-246. SIGA's request to dismiss the claim by PharmAthene was denied in all respects by the Delaware Court.

David P. Wright, President and Chief Executive Officer of PharmAthene, stated, "This is very good news for PharmAthene. The decision by the Court to reject SIGA's motion to dismiss our claims will now enable PharmAthene to proceed in its efforts to gain those rights to SIGA-246, to which we believe we are entitled based on agreements between PharmAthene and SIGA signed in 2006. We intend to aggressively pursue those rights."

SIGA-246 is a small molecule orally-active antiviral drug candidate for the treatment of smallpox.

About PharmAthene, Inc.

PharmAthene (Amex: PIP) was formed to meet the critical needs of the United States and its allies by developing and commercializing medical countermeasures against biological and chemical weapons. PharmAthene's lead programs include Valortim(TM) for the prevention and treatment of anthrax infection and Protexia(R) for the prevention and treatment of morbidity and mortality associated with exposure to chemical nerve agents. For more information on PharmAthene, please visit http://www.PharmAthene.com.

Statement on Cautionary Factors

Except for the historical information presented herein, matters discussed may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, including statements preceded by, followed by, or that include the words "potential"; "believe"; "anticipate"; "intend"; "plan"; "expect"; "estimate"; "could"; "may"; "should"; "could"; or similar statements are forward-looking statements. PharmAthene disclaims, however, any intent or obligation to update these forward-looking statements. Risks and uncertainties include the possibility that PharmAthene may not eventually prevail in any legal proceedings; that PharmAthene may incur substantial costs involved in connection therewith; that SIGA-246 may not be licensed by PharmAthene; that it may not eventually prove to be effective or be capable of being marketed as a product, as well as risks detailed from time to time in PharmAthene's public disclosure filings with the U.S. Securities and Exchange Commission (the "SEC"). There can be no assurance that PharmAthene development efforts will succeed or that SIGA-246 or any other developed products will receive required regulatory clearance or that, even if such regulatory clearance were received, such products would ultimately achieve commercial success. Copies of PharmAthene's public disclosure filings are available from its investor relations department.


'/>"/>
SOURCE PharmAthene, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Proceedings to Affirm Merger Between PharmAthene and Healthcare Acquisition Corp Initiated in Delaware Chancery Court
2. Hearing Scheduled in the Delaware Court of Chancery for August 27, 2007 to Establish the Valid Approval and Consummation of the Merger Between PharmAthene, Inc. and Healthcare Acquisition Corp.
3. U.S. District Court Decision About Eisais Legal Action Over Aricept ODT(R) ANDA Filing
4. Agencourt Genomic Services is Key Collaborator in New Research That Further Defines Landscape of Breast and Colon Cancers
5. Forest Laboratories Announces Federal Appeals Court Upholds Lexapro(R) Patent Decision
6. Former Banc of America Securities Analyst David Maris Comments on Decision by Biovail to Drop Its Claims Against Him; Denies That He is Cooperating With Biovail
7. Burrill & Company Announces Promotions
8. Exelixis Announces Senior Management Promotions
9. Nastech Announces Promotion of Gordon Brandt, M.D. to President
10. Escalon(R) Announces Promotion of Industry Veteran Barry Durante to President of Sonomed, Inc.
11. Detroit Department of Health and Wellness Promotion Selects Netsmart Technologies Public Health Software
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/11/2017)... ... October 11, 2017 , ... ... implantation and pregnancy rates in frozen and fresh in vitro fertilization (IVF) ... and maternal age to IVF success. , After comparing the results from the ...
(Date:10/10/2017)... DIEGO, CALIF. (PRWEB) , ... October 10, 2017 , ... ... as part of its corporate rebranding initiative announced today. The bold new look ... its reach, as the company moves into a significant growth period. , It will ...
(Date:10/10/2017)... ... 2017 , ... For the second time in three years, ... Award. Representatives of the FirstHand program travelled to Washington, D.C. Tuesday, October 10th, ... mission is to change the trajectory of STEM education in America by dramatically ...
(Date:10/10/2017)... -- International research firm Parks Associates announced today that ... TMA 2017 Annual Meeting , October 11 in Scottsdale, Arizona ... market and how smart safety and security products impact the competitive landscape. ... Parks Associates: Smart Home Devices: Main Purchase ... "The residential security market has experienced continued growth, ...
Breaking Biology Technology:
(Date:4/19/2017)... New York , April 19, 2017 ... competitive, as its vendor landscape is marked by the ... the market is however held by five major players ... Safran. Together these companies accounted for nearly 61% of ... of the leading companies in the global military biometrics ...
(Date:4/17/2017)... 17, 2017 NXT-ID, Inc. (NASDAQ: NXTD ... filing of its 2016 Annual Report on Form 10-K on Thursday ... ... available in the Investor Relations section of the Company,s website at ... website at http://www.sec.gov . 2016 Year Highlights: ...
(Date:4/13/2017)... According to a new market research report "Consumer IAM Market ... Authorization), Service, Authentication Type, Deployment Mode, Vertical, and Region - Global Forecast ... from USD 14.30 Billion in 2017 to USD 31.75 Billion by 2022, ... ... MarketsandMarkets Logo ...
Breaking Biology News(10 mins):