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PharmAthene Awarded NIAID Contract For Up to $83.9 Million For Third Generation rPA Anthrax Vaccine Program
Date:9/26/2008

ANNAPOLIS, Md., Sept. 26 /PRNewswire-FirstCall/ -- PharmAthene, Inc. (Amex: PIP), a biodefense company developing medical countermeasures against biological and chemical threats, announced today that the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH), has awarded the Company a multi-year contract for up to $83.9 million for advanced development of a third generation recombinant protective antigen (rPA) anthrax vaccine.

The objective of the government's third generation program is to develop an rPA anthrax vaccine which can be stored, transported and used without the need for a conventional cold chain - an important advantage for civilian biodefense deployment within the Strategic National Stockpile. In particular, the vaccine must maintain stability for three years at 35 C and induce protective immunity in just one or two doses.

Under the contract, PharmAthene will receive initial funding of approximately $13.2 million during a "base period" of performance. During this time the Company will be responsible for preclinical activities, including, development and qualification of assays, stability testing, toxicology studies and development of non-clinical animal models. During the base period NIAID retains the option of extending the contract under two separate options with a combined value of up to $9.7 million. Additional options covering advanced manufacturing and clinical development could bring the total potential value of the contract up to approximately $83.9 million, provided that certain milestones are achieved and that all contract options and extensions are exercised by the government.

"We are pleased that NIAID has awarded such a significant contr
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SOURCE PharmAthene, Inc.
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