Annapolis-based PharmAthene, Inc. and N.Y.-based SIGA Technologies Inc. ? two biotech companies ? announced Friday that they have signed a definitive merger agreement creating a new company called PharmAthene.
The companies said they plan to be leaders in “bio-defense products targeting anthrax, smallpox and chemical nerve agents.”
“A strategic merger with SIGA significantly advances our strategy of building a leading bio-defense company with a comprehensive portfolio of medical countermeasures to meet the urgent needs of our Nation andAllies,” said David P. Wright, CEO of PharmAthene.
Wright said combining PharmAthene?s strong development and commercialization capabilities with SIGA?s bio-defense and antiviral treatment products “establishes a premier bio-defense organization.”
The companies had announced in March their intent to merge.
SIGA is developing SIGA-246, which it dubs “the most advanced smallpox treatment currently in development.”
Complimentary medicines
PharmAthene, a privately-held company, is developing Valortim for the prevention and treatment of anthrax.
SIGA?s stock trades on the NASDAQ market and the new company will trade under the stock symbol SIGA.
