HHS contracts to develop new Ebola drug

1 April 2015

The US Department of Health and Human Services’ Office of the Assistant Secretary for Preparedness and Response (ASPR) awarded about $12 million to BioCryst Pharmaceuticals (Nasdaq: BCRX) of North Carolina, for the advanced development of a promising experimental drug for Ebola, including preparing for large-scale manufacturing of the drug and conducting related studies.

The initial work will be undertaken over the next 18 months with support from ASPR’s Biomedical Advanced Research and Development Authority (BARDA). The contract can be extended through August 2017 and up to a total of aroud $35 million. The news pushed BioCryst’s shares up 5.6% to $9.05 on Tuesday.

BioCryst’s drug, BCX4430, is a small molecule that prevents the Ebola virus from reproducing in the body. In non-human primate studies, the drug was effective against Ebola virus and Marburg virus, another virus in the filovirus family, indicating that BCX4430 may be useful as a broad spectrum antiviral drug.

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