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PharmAthene CEO Participates on Panel at the 6th Annual Biodefense Vaccines & Therapeutics Conference in Washington DC

Thursday, June 12, 2008 General News
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WASHINGTON, June 11 Project BioShield and otherterrorism countermeasures programs are yielding successful results, accordingto PharmAthene Chief Executive Officer David Wright, who detailed thecompany's track-record of partnering with the U.S. government.
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"The key is to know your customer and to meet its requirements," Mr.Wright told attendees at the 6th Annual Biodefense Vaccines & TherapeuticsConference held in Washington, DC that also featured officials from the WhiteHouse, U.S. Department of Health and Human Services (HHS), U.S. Department ofDefense (DoD) and other agencies.
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The Annapolis, Maryland-based biodefense company, which holds severalcontracts with the U.S. government, also urged HHS to keep with its timetablefor the procurement of a next generation (rPA) anthrax vaccine, as well as atherapeutic that could be used to treat victims of an anthrax attack. "Thethreat of an anthrax attack is real and already has occurred on U.S. soil.After the 9/11 attacks top U.S. science advisors urged our nation's leaders tosecure a new, more effective anthrax vaccine. The existing vaccine requiresup to six injections over an 18 month period, followed by yearly booster shots,and has side-effects. HHS has issued an RFP requesting a next generationvaccine with better safety and fewer doses. PharmAthene has products inadvanced development to meet this urgent need," Mr. Wright said.

The Panel discussed how companies can establish and continue a partnershipwith HHS to produce effective next generation countermeasures for biodefense.Mr. Wright cited PharmAthene's success in partnering with the government. Todate, PharmAthene and the Avecia business that it acquired in April, have beenawarded grants, development contracts and other awards from the U.S.government, and other governments, for which they have received, or willreceive, an aggregate of approximately $276 million, and may receive in thefuture under these contracts and awards up to an additional $198 million ifother development milestones are met and contract extensions are exercised bythe US government, in its sole discretion.

"While government funding is available, accessing those funds remainschallenging," commented Mr. Wright. He noted that biodefense is essentially abrand new industry and is distinctly different from traditional biotechnology-- there is a different regulatory path utilizing the animal rule, programdevelopment is largely dependent on government funding amounts and the marketsare challenging to enter. As such, frequent and fruitful communication withHHS regarding acquisition and advanced development, timelines, funding amounts,and product acquisitions is critical. Once a consistent process is in placeand companies begin to deliver products to the stockpile and recognize revenue,the value of the business proposition can be realized.

About PharmAthene, Inc.

PharmAthene (Amex: PIP) was formed in March 2001 with a mission to becomethe premier company worldwide specializing in the development andcommercialization of therapeutic and prophylactic products for defense againstbiological and chemical threats. Since its inception, PharmAthene has pursuedan acquisitive growth strategy focused on high priority, next generationbiodefense products that the government has expressed a clear need and intentto procure. PharmAthene's portfolio currently includes five potentialbest-in-class biodefense medical countermeasures: Recombinant ProtectiveAntigen (rPA) anthrax vaccine; Valortim(TM), an anthrax anti-toxin therapeuticwhich is being co-developed with Medarex; Protexia(R) a novel recombinantbioscavenger to prevent and treat organophosphorous nerve agent poisoning;RypVax(TM), a recombinant dual antigen plague vaccine; and finally, thirdgeneration rPA anthrax vaccine technology. For more information onPharmAthene, please visit http://www.pharmathene.com.

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