PharmAthene/SIGA in merger accord

US firms PharmAthene and SIGA Technologies have signed a definitive agreement providing for their merger. The combined company, which will operate under the PharmAthene name, will be a leader in biodefense featuring a substantial portfolio of procurement-stage biodefense products targeting anthrax, smallpox and chemical nerve agents, as well as a robust pipeline of therapeutic and prophylactic drug candidates targeting Category A biowarfare agents and emerging infectious diseases, the firms claim.

"A strategic merger with SIGA significantly advances our strategy of building a leading biodefense company with a comprehensive portfolio of medical countermeasures to meet the urgent needs of our nation and allies," said David Wright, chief executive of PharmAthene. "Combining PharmAthene's strong development and commercialization capabilities and procurement-stage biodefense products with SIGA's procurement-stage smallpox antiviral treatment, ST-246, and exceptional research pipeline, establishes a premier biodefense organization with multiple procurement-stage products with near-term revenue potential, and a broad research pipeline focused on biodefense and emerging infectious diseases," he added.