This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Department Of Defense Awards $5.7 Million Contract To PharmAthene For Nerve Agent Medical Countermeasure Program

ANNAPOLIS, Md., Aug. 16, 2011 /PRNewswire/ -- PharmAthene, Inc. (NYSE Amex: PIP), a biodefense company developing medical countermeasures against biological and chemical threats, announced today that the Company has been awarded a $5.7 million contract under a Department of Defense (DoD) Broad Agency Announcement for studies directed at the development of an advanced expression system for the bioproduction of its nerve agent medical countermeasure program.

rBChE is a recombinant form of a naturally occurring protein, human butyrylcholinesterase (BChE), which is found in minute quantities in blood.  It functions as a natural bioscavenger, like a sponge, to absorb toxins such as organophosphorous poisons (nerve agents) and certain pesticides, before they cause irreversible neurological damage.

Preclinical studies in animals suggest rBChE has the potential to provide significant protection against chemical nerve agent poisoning when administered prophylactically (prior to exposure to nerve agent) and also may increase survival when administered therapeutically (following nerve agent exposure).

Funding under the new contract, which has a base period of 18 months, will be used to evaluate a novel mammalian cell-based manufacturing system for rBChE.  If successful, this platform could potentially streamline the development approach for rBChE and increase the production yield, manufacturing flexibility, and cost-effectiveness of this program.

"We have considerable experience in the production and evaluation of recombinant BChE," remarked Dr. Thomas Fuerst, Executive Vice President and Chief Scientific Officer. "This contract builds upon the body of knowledge we have established over the years with a specific focus on the expression of rBChE using a novel mammalian cell line that has been used for the advanced-stage bioproduction of other recombinant proteins with considerable FDA oversight and review."

Dr. Fuerst continued, "PharmAthene's commitment to innovation has enabled us to continue to develop and advance novel medical countermeasures, based on 21st century biopharmaceutical processes.  These contracted studies will advance the state of the art of rBChE technology and, we believe, will position us to better meet the needs of our customer, the U. S. government.  PharmAthene's approach is consistent with the government's initiative to support the use of flexible, state-of-the-art technologies to meet the needs of both the military and civilian strategic stockpiles.  We are excited about the potential for a mammalian cell-based manufacturing system, which may yield improvements in a second generation product profile, and look forward to a productive collaboration with the DoD in the conduct of these studies that are key to the advancement of important new prophylactic and therapeutic medical countermeasures."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs