GAITHERSBURG, Md., Feb. 13, 2017 (GLOBE NEWSWIRE) -- Emergent BioSolutions Inc. (NYSE:EBS) today announced that it has received a task order from the Biomedical Advanced Research and Development Authority (BARDA) valued at up to $30.5 million to develop monoclonal antibody therapeutics for viral hemorrhagic fever. This task order will utilize the company’s Center for Innovation in Advanced Development and Manufacturing (CIADM) facility located in Baltimore, Maryland. Using monoclonal antibodies from Mapp Biopharmaceutical Inc., the company will conduct technology transfer of process materials and information, perform process and analytical method development, execute small-scale production runs, and perform cGMP cell banking leading to cGMP manufacture of bulk drug substance. The task order consists of a 36-month period of performance with a base task order valued at $7.4 million and options that, if executed, will bring the total task order value over three years to up to $30.5 million.
“Protecting and enhancing life is at the core of Emergent’s mission, and one of the ways by which we are able to fulfill this mission is in partnership with BARDA as it addresses emerging public health threats,” said Adam Havey, executive vice president and president, biodefense division of Emergent BioSolutions. “Emergent’s CIADM is a great example of a public-private partnership that works towards a shared goal. We look forward to successfully executing this task order in collaboration with all parties involved.”
This is the fourth BARDA Task Order awarded to Emergent under the CIADM program. Since its inception in 2012, Emergent’s CIADM facility has been utilized to respond to public health emergencies including Ebola and Zika.
This Task Order Number HHSO10033004T under contract HHSO100201200004I is funded by BARDA, within the Office of the Assistant Secretary for Preparedness and Response in HHS.
About Emergent BioSolutions
Emergent BioSolutions Inc. is a global life sciences company seeking to protect and enhance life by focusing on providing specialty products for civilian and military populations that address accidental, intentional, and naturally emerging public health threats. Through our work, we envision protecting and enhancing 50 million lives with our products by 2025. Additional information about the company may be found at emergentbiosolutions.com. Follow us @emergentbiosolu.
Safe Harbor Statement
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical fact, including statements regarding the exercise of options under the task order, are forward-looking statements. These forward-looking statements are based on our current intentions, beliefs and expectations regarding future events. We cannot guarantee that any forward-looking statement will be accurate. Investors should realize that if underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could differ materially from our expectations. Investors are, therefore, cautioned not to place undue reliance on any forward-looking statement. Any forward-looking statement speaks only as of the date of this press release, and, except as required by law, we do not undertake to update any forward-looking statement to reflect new information, events or circumstances. There are a number of important factors that could cause the company's actual results to differ materially from those indicated by such forward-looking statements, including the availability of funding and BARDA’s exercise of options under the task order; the success of the planned development programs; the timing of and ability to obtain and maintain regulatory approvals for the product candidates; and commercialization, marketing and manufacturing capabilities. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from our expectations in any forward-looking statement. Investors should consider this cautionary statement, as well as the risk factors identified in our periodic reports filed with the SEC, when evaluating our forward-looking statements.