Emergent BioSolutions Awarded $23 Million to Develop Novel Multi-Drug Auto-Injector for U.S. Department of Defense
GAITHERSBURG, Md., July 31, 2017 (GLOBE NEWSWIRE) — Emergent BioSolutions Inc. (NYSE:EBS) today announced that it has been awarded approximately $23 million to develop a novel multi-drug auto-injector for nerve agent antidote delivery. Emergent’s device is being designed for intramuscular self- or buddy-administration of antidotes for use in military environments and for civilian emergencies.
Adam Havey, executive vice president, business operations at Emergent BioSolutions, said, “Ease of use and rapid delivery of antidotes are critical features of auto-injectors that are intended to mitigate the health effects of nerve agent exposure. Emergent’s device seeks to satisfy the requirements of the Department of Defense for a novel auto-injector platform technology, and we look forward to collaborating with our development partners to meet the DoD’s needs.”
Under the five-year agreement, awarded through the Medical CBRN Defense Consortium (MCDC), Emergent will develop a device, conduct studies to demonstrate consistent manufacture, functionality, and usability of the final device, and complete regulatory activities required to obtain approval of the product by the U.S. Food and Drug Administration (FDA).
The MCDC was established by the Joint Project Manager for Medical Countermeasure Systems. It is a DoD initiative within the Joint Program Executive Office for Chemical and Biological Defense that provides U.S. military forces and the nation with safe, effective, and innovative medical solutions to counter chemical, biological, radiological, and nuclear threats.
About Emergent BioSolutions
Emergent BioSolutions Inc. is a global life sciences company seeking to protect and enhance life by focusing on providing specialty products for civilian and military populations that address accidental, intentional, and naturally emerging public health threats. Through our work, we envision protecting and enhancing 50 million lives with our products by 2025. Additional information about the company may be found at emergentbiosolutions.com. Follow us @emergentbiosolu.
Safe Harbor Statement
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical fact, including statements regarding the potential uses, market opportunities and intention to seek FDA approval for the multi-drug auto-injector device and any other statements containing the words “believes,” “expects,” “anticipates,” “intends,” “plans,” “seeks,” “estimates” and similar expressions, are forward-looking statements. These forward-looking statements are based on our current intentions, beliefs and expectations regarding future events. We cannot guarantee that any forward-looking statement will be accurate. Investors should realize that if underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could differ materially from our expectations. Investors are, therefore, cautioned not to place undue reliance on any forward-looking statement. Any forward-looking statement speaks only as of the date of this press release, and, except as required by law, we do not undertake to update any forward-looking statement to reflect new information, events or circumstances.
There are a number of important factors that could cause the company’s actual results to differ materially from those indicated by such forward-looking statements, including our ability to develop and manufacture a product satisfying the DoD’s requirements; our reliance on a third party to manufacture and supply the product; the ability of our third-party supplier to maintain compliance with current Good Manufacturing Practices and other regulatory obligations; the success of our efforts to pursue FDA approval of the product; and the success of our commercialization and marketing capabilities and strategy. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from our expectations in any forward-looking statement. Investors should consider this cautionary statement, as well as the risk factors identified in our periodic reports filed with the SEC, when evaluating our forward-looking statements.
Investor Contact: Robert G. Burrows Vice President, Investor Relations 240-631-3280 BurrowsR@ebsi.com Media Contact: Lynn Kieffer Vice President, Corporate Communications 240-631-3391 KiefferL@ebsi.com
