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PharmAthene and Medarex Announce Additional $0.8 Million U.S. Government Appropriation for Continued Development of Anthrax Therapeutic Valortim(TM)
Date:11/6/2007

thrax models," said Dr. Meldorf. "The newly-developed USAMRIID model uses a rapidly detectable surrogate marker for the development of symptomatic anthrax disease. This will enable us to more accurately determine the therapeutic efficacy of Valortim in animals who have active disease defined in this way."

"Six years after the anthrax attacks of 2001, we believe that the development of effective therapies to prevent and treat anthrax infection is still a critical national security priority," said David P. Wright, President and Chief Executive Officer of PharmAthene. "Based on the promising preclinical and clinical data generated to date, we strongly believe that Valortim(TM) may be an appropriate choice for procurement in the Strategic National Stockpile under Project BioShield."

"We are pleased with the ongoing success of our colleagues at PharmAthene in securing external funding to support the advanced development of Valortim and believe that the new animal model under development at USAMRIID will help assess the therapeutic potency of this antibody," said Israel Lowy, M.D., Ph.D., Senior Director of Infectious Disease for Medarex. "Through our research we have identified important characteristics of Valortim, such as its mechanism of action, pharmacokinetics, animal efficacy, and favorable human safety data. We believe that these attributes will play a key role in the further development of Valortim and potential government procurement."

About Valortim

Valortim (MDX-1303) is a fully human antibody designed to protect against anthrax infection, including inhalation anthrax, the most lethal form of illness in humans caused by the Bacillus anthracis bacterium. The investigational antibody is designed to target a protein component known as the anthrax protective antigen (PA) of the lethal toxin complex produced by the bacterium. The anthrax protective antigen is believed to initiate the onset of the illness by attaching to cells in the infected
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SOURCE PharmAthene, Inc.
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