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July 1, 2008

Peregrine to Investigate Antiviral Applications of mAbs under $44M Deal with DoD

  • Peregrine Pharmaceuticals was awarded a five-year contract by the DoD worth up to $44.4 million related to treatments for viral hemorrhagic fever infections. The firm will test and develop bavituximab and an equivalent fully human antibody.

    Under the terms of the contact, Peregrine will recieve $5 million immediately. Over a 24-month base period, the company will have access to another $17.3 million for testing and development efforts. The contract can be extended beyond the base period to cover up to $44.4 million in funding over the five-year contract.

    Bavituximab is the firm’s lead antiphosphatidylserine (anti-PS) mAb. It is currently in Phase I trials for HCV. The fully human anti-PS antibody to be assessed under this contract is currently in preclinical development.

    The contract was awarded through the Transformational Medical Technologies Initiative of the DOD’s Defense Threat Reduction Agency (DTRA).

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