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PharmAthene Receives Four Therapeutic Discovery Project Grants Totaling Approximately $850,000
Date:11/4/2010

ANNAPOLIS, Md., Nov. 4, 2010 /PRNewswire-FirstCall/ -- PharmAthene, Inc. (NYSE Amex: PIP), a biodefense company developing medical countermeasures against biological and chemical threats, announced today that the Company was awarded four separate grants totaling approximately $850,000 under the Qualifying Therapeutic Discovery Project, enacted as part of the Patient Protection and Affordable Care Act of 2010 (P.L. 111-148). The grant is a benefit targeted to small business therapeutic discovery projects that show a potential to result in new therapies to treat areas of unmet medical need or prevent, detect or treat chronic or acute diseases and conditions.

"We are delighted that PharmAthene was selected as a grant recipient under this program," commented Eric I. Richman, President and Chief Executive Officer.  The Therapeutic Discovery initiative was established to promote the research and development of biomedical programs that show significant potential to produce new and cost-saving therapies, support quality job creation, and increase U.S. competitiveness.  Since its inception, PharmAthene has focused on developing urgently needed, best-in-class, next generation medical countermeasures that offer the potential for improved safety, convenience, and cost-effectiveness, consistent with this imperative.  We look forward to advancing our mission and remain committed to meeting the needs of the U.S. government to ensure the safety and well-being of Americans at home and on the battlefield."

About PharmAthene, Inc.

PharmAthene 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 product development programs include:

  • SparVax™ - a second generation recombinant pr
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SOURCE PharmAthene, Inc.
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