PharmAthene Submits Proposal to BARDA in Response to Broad Agency Announcement for Advanced Research and Development for V...( ANNAPOLIS Md. June 2 /- PharmAthene I...),Health

ANNAPOLIS, Md., June 2 /PRNewswire-FirstCall/ -- PharmAthene, Inc. (NYSE Amex: PIP), a biodefense company developing medical countermeasures against biological and chemical threats, today announced that it has submitted a proposal to the Biomedical Advanced Research and Development Authority (BARDA) in response to a Broad Agency Announcement (BAA-BARDA-09-34) for advanced research and development of medical countermeasures for chemical, biological, radiological and nuclear threats. PharmAthene has requested funding to further develop Valortim(R), a fully human monoclonal antibody, for the prevention and treatment of anthrax infection. To date, the Company has received funding commitments from the U. S. government totaling up to $24 million to advance the development of Valortim(R).

David P. Wright, President and Chief Executive Officer of PharmAthene, commented, "We look forward to BARDA's decision regarding our funding proposal for the advanced development of Valortim(R). We believe that Valortim(R) may have important competitive advantages, including a novel mechanism of action, which, if demonstrated, would make it a strong choice for procurement consideration in the Strategic National Stockpile (SNS). Additional funding will allow us to complete clinical and non-clinical efforts through pivotal safety and efficacy studies, and to perform cGMP and conformance lot manufacturing. If successful, Valortim(R) may be eligible for acquisition into the SNS for potential use under an Emergency Use Authorization (EUA), and for submission of a Biologics License Application (BLA)."

About Valortim(R)

Valortim(R) is a fully human monoclonal antibody generated by Medarex, Inc's UltiMAb(R) technology that is being co-developed by the two companies and is designed to protect against and treat anthrax infection, including inhala
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