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BioFactura Awarded Army SBIR Enhancement Funds; Renews CRADA with USAMRIID to Develop Smallpox Biodefense Therapeutic
January 12, 2010 - BioFactura, Inc. was awarded $500,000 through the US Army Small Business Innovative Research (SBIR) Phase II Enhancement Program to continue pre-clinical development of the Company's Smallpox Biodefense Therapeutic. This program provides additional funding to meet the product requirements of an acquisition program and accelerates projects into the commercialization stage. Funding will be used to expand BioFactura's pre-clinical efficacy studies in established animal models and to accelerate development of a scalable manufacturing process for commercial production.
BioFactura has also renewed its Collaborative Research and Development Agreement (CRADA) with the US Army Research Institute of Infectious Diseases (USAMRIID) located at Ft. Detrick in Frederick, Maryland. The Company is extending this agreement for an additional three years as it moves its biodefense program into advanced development. Dr. Jay Hooper, Chief of Molecular Virology and expert in smallpox countermeasure research, will continue to serve as principal investigator at USAMRIID.
"In addition to its continuing financial support, the Army SBIR Program has been a key advocate and partner throughout the development of our biodefense technologies," said Darryl Sampey, BioFactura's President and CEO. "Specifically, BioFactura would like to acknowledge the efforts of our Contracting Officer's Representative (COR) at USAMRIID, Dr. Michael Parker, our Technical Assistance Advocate (TAA), Mr. John Ruehe, and the Army SBIR Program Manager (PM), Mr. Christopher Rinaldi for recommending this award. Innovative initiatives such as the Army SBIR Phase II Enhancement and Commercialization Pilot Programs effectively connect research to investment and procurement and are a model for successful federal R&D technology development."
About BioFactura, Inc.
BioFactura (Rockville MD) is a biopharmaceutical development company focused on solving unmet medical and national security needs in the infectious disease arena.
About USAMRIID
USAMRIID, located at Fort Detrick, Maryland, is the lead medical research laboratory for the U.S. DOD Biological Defense Research Program, and plays a key role in national defense and in infectious disease research. The Institute conducts basic and applied research on biological threats resulting in medical solutions (such as vaccines, drugs and diagnostics) to protect the warfighter. While USAMRIID's primary mission is focused on the military, its research often has applications that benefit society as a whole. USAMRIID is a subordinate laboratory of the U.S. Army Medical Research and Materiel Command. For more information, visit www.usamriid.army.mil
Statements in this press release that are not strictly historical facts are "forward looking" statements (identified by the words "believe", "estimate", "project", "expect" or similar expressions) within the meaning of the Private Securities Litigation Reform Act of 1995. These statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, competitive factors, changes in the regulatory environment, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. The statements in this press release are made as of today, based upon information currently known to management, and the Company does not undertake any obligation to publicly update or revise any forward-looking statements.
The information contained in this press release does not necessarily reflect the position or policy of the Government and no official endorsement should be inferred.
Company Contact: Darryl Sampey, President and CEO, email: dsampey@biofactura.com
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