ANNAPOLIS, Md., Nov. 19 /PRNewswire-FirstCall/ -- PharmAthene, Inc. (NYSE Alternext US: PIP), a biodefense company developing medical countermeasures against biological and chemical threats, announced today that it has signed an agreement with Medison Pharma Ltd., to commercialize its biodefense products in Israel.
"The need for advanced medical countermeasures to combat the risk of terrorist attacks with biological or chemical weapons is a significant global concern," stated David P. Wright, President and Chief Executive Officer of PharmAthene. "Our allies in Israel understand the importance of procuring next generation biodefense products to protect their military and civilian populations from the threat of biological and chemical warfare."
Under terms of the exclusive, multi-year agreement, Medison Pharma will commercialize products from PharmAthene's biodefense portfolio and will be responsible for overseeing regulatory approval, marketing, and distribution activities for those products in Israel. PharmAthene will maintain all manufacturing responsibilities.
Maryland Governor Martin O'Malley, whose administration has played an integral role in supporting bioscience in Maryland and fostering business partnerships between Israel and the State of Maryland, commented, "Companies such as PharmAthene are making significant advances by developing novel products which are intended to save lives and deter terrorist attacks against our citizens. We are very proud to support these initiatives and assist Maryland companies in developing global partnerships and international markets for their products and technologies."
Commenting on today's news, Eric Richman, Senior Vice President, Business
Development and Strategic Planning for PharmAthene, noted, "Governor
O'Malley's vision of facilitating commercial opportunities for Maryland
bioscience companies by establishing global partnerships has enab
|SOURCE PharmAthene, Inc.|
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