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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

act to fund the continued development of our third generation rPA anthrax vaccine program. This latest contract is in addition to an earlier NIH contract for up to $6.9 million, which was awarded in 2005," commented David P. Wright, President and Chief Executive Officer. "PharmAthene has built a diversified, best-in-class portfolio of novel biodefense product candidates and we view this latest award as a direct validation of our technology as well as a reaffirmation of the U.S. government's commitment to the development and procurement of next generation medical countermeasure solutions."

Mr. Wright added, "Based on development efforts to date, PharmAthene's third generation vaccine could offer significant improvements in both stability and storage compared to the current FDA approved vaccine, thereby meeting the government's requirements for civilian deployment in the Strategic National Stockpile. By comparison, the currently available anthrax vaccine, BioThrax(R) Anthrax Vaccine Adsorbed, which was initially licensed by the Food and Drug Administration in 1970, requires six doses over a period of eighteen months to achieve protective immunity and is required to be stored at between 2 degrees Celsius and 8 degrees Celsius."

PharmAthene believes that the third generation rPA anthrax vaccine contract is part of a broader strategy by the Department of Health and Human Services to ensure that the Strategic National Stockpile (SNS) contains the most efficacious anthrax medical countermeasures currently available. Near-term, the Company believes second generation rPA anthrax vaccine will gradually replace the currently licensed vaccine. Longer-term, third generation rPA vaccine -- with substantial improvements in stability and storage requirements -- will be the procurement option of choice.

Mr. Wright continued, "PharmAthene is strategically building a leading franchise in anthrax countermeasures - a potential billion dollar market. This includes no
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SOURCE PharmAthene, Inc.
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