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news.PharmAthene and Medarex have announced that the National Institute of Allergy and Infectious Diseases and the Biomedical Advanced R&D Authority, part of the National Institutes of Health, have awarded PharmAthene a contract for the advanced development of Valortim.
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Valortim is a fully human monoclonal antibody generated by Medarex’s UltiMAb technology, which is being co-developed by the two companies.
The up to $13.9 million contract supports the development of Valortim for use as an anti-toxin therapeutic to prevent and treat inhalation anthrax infection. The contract will be incrementally funded through 2009. Funding for the contract’s initial fiscal year could reach up to $10.3 million.
David Wright, president and CEO of PharmAthene, said: “We are very pleased to have the NIAID/BARDA’s continuing support for the Valortim program and look forward to a long-term and highly productive relationship to achieve our mutual objective of developing effective countermeasures to biological and chemical weapons of mass destruction.”