PharmAthene gets $1.6M to continue Protexia development
PharmAthene, a US biodefense company developing medical countermeasures against biological and chemical threats, says that the Consolidated Security, Disaster Assistance, and Continuing Appropriations Act, 2009, which includes the full fiscal-year 2009 appropriations for the Department of Defense, includes $1.6 million to support ongoing development of the company's broad spectrum chemical nerve agent countermeasure, Protexia, a recombinant pegylated version of human butyrylcholinesterase.
David Wright, chief executive, said: "the appropriations funding announced...is in addition to a previously announced multi-year contract from the Department of Defense US Army Space and Missile Command for advanced development of Protexia. This contract is valued at up to $219.0 million, provided that certain milestones are achieved, and all contract options and extensions are exercised by the government."
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