Development of Pfenex new anthrax vaccine underway with HHS support
US biotech and biosimilars firm Pfenex (NYSE: PFNX) shares leapt 8.7% to close at $21.04 on Monday, after news of a potentially lucrative government deal was released.
Pfenex said it has signed a five-year, cost plus fixed fee contract valued at up to $143.5 million with the Biomedical Advanced Research and Development Authority (BARDA) of the Department of Health and Human Services (HHS), for the advanced development of Px563L, a mutant recombinant protective antigen anthrax vaccine.
"This contract for the development of Px563L offers the potential for a dramatic improvement in the rapid production of large amounts of a high value stable recombinant anthrax vaccine for the US government," stated Bertrand Liang, chief executive of Pfenex, adding: "The ability to meet articulated medical countermeasure needs, including fulfillment of the requirements of the Strategic National Stockpile, is a key goal in the program."
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