Soligenix, Inc., a late-stage biopharmaceutical company, said Friday it has received a contract worth up to $24.7 million from the U.S. Department of Health and Human Services’ National Institutes of Health.The Princeton-based company said in a news release that the contract’s objective is to advance the development of a medical countermeasure to ricin toxin exposure. The countermeasure would combine Soligenix’s thermostabilization technology, ThermoVax, with its ricin vaccine, Rivax.
Soligenix said in a news release that the contract contains an initial 16-month base period worth about $5.8 million, followed by several options that could extend to the deal for up to six years. It is specifically funded by the National Institute of Allergy and Infectious Diseases, or NIAID.
“Securing this highly competitive NIAID contract provides further recognition as to the innovative quality and potential impact of both our vaccine and thermostabilization technologies,” Christopher J. Schaber, CEO and president of Soligenix, said in the release. “With this new contract award, the Company now has up to $57 million in NIAID and BARDA funding to advance the biodefense business segment.”
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