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news.Biodefense companies PharmAthene and Siga Technologies have signed an agreement to merge with each other. Financial terms of the deal were not disclosed.
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The combined company, which will operate under the “PharmAthene” name, is expected to 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 combined company’s biodefense portfolio will include, ST-246, a small molecule orally-active antiviral therapeutic for the treatment of smallpox and other orthopox virus infections, Valortim, a fully human monoclonal antibody being co-developed with Medarex for the prevention and treatment of anthrax infection, and Protexia a novel bioscavenger to prevent and treat organophosphate nerve agent poisoning.
“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,” said David Wright, president and CEO of PharmAthene.