PharAthene and Medarex get $13.9M NIH contract for Valortim

PharmAthene, a biodefense group developing medical counter-measures against biological and chemical threats, and Medarex, a monoclonal antibody company, say that the US National Institute of Allergy and Infectious Diseases and the Biomedical Advanced Research and Development Authority, both part of the National Institutes of Health, have awarded a contract for the advanced development of Valortim, a fully-human monoclonal antibody generated by Medarex' UltiMAb technology that is being co-developed by the two US companies. Worth up to $13.9 million, the contract supports the development of Valortim for use as an anti-toxin therapeutic to prevent and treat inhalation anthrax infection. It is effective as of September 28, and will be incrementally funded through 2009. Funding for the contract's initial fiscal year could reach up to $10.3 million.