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:5/25/2016)... New Haven, Connecticut (PRWEB) , ... May 25, ... ... today that the U.S. Food and Drug Administration (FDA) has granted the company’s ... This is the company’s second orphan drug designation granted by the FDA. ...
(Date:5/24/2016)... ... 24, 2016 , ... Cell therapies for a range of ... research at Worcester Polytechnic Institute (WPI) that yielded a newly patented method of ... The novel method, developed by WPI faculty members Raymond Page, PhD, professor of ...
(Date:5/24/2016)... 24, 2016   MedyMatch Technology Ltd ., the data ... real-time decision support tools in the emergency room, announced today ... Israeli Advanced Technology Industries (IATI) BioMed Conference. ... 15th National Life Sciences and Technology Week, and is ... Hotel in Tel Aviv, Israel . ...
(Date:5/24/2016)... ... , ... Last week, Callan Capital, an integrated wealth management firm specializing in ... San Diego Life Science event at the Estancia La Jolla Resort and Spa. , ... speakers Dr. Rich Heyman, former CEO of Aragon and Seragon, and Faheem Hasnain, former ...
Breaking Biology Technology:
(Date:5/24/2016)... superior patient care by providing unparalleled technology to leaders of the medical imaging industry. ... recently added to the range of products distributed by Ampronix. Photo - ... ... ... ...
(Date:5/20/2016)... 2016  VoiceIt is excited to announce its ... By working together, VoiceIt and VoicePass will ... VoicePass take slightly different approaches to voice biometrics, ... and usability. ... partnership. "This marketing and technology partnership ...
(Date:5/16/2016)... , May 16, 2016   EyeLock LLC ... today announced the opening of an IoT Center of ... strengthen and expand the development of embedded iris biometric ... unprecedented level of convenience and security with unmatched biometric ... one,s identity aside from DNA. EyeLock,s platform uses video ...
Breaking Biology News(10 mins):