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|Emergent BioSolutions Awarded Five Therapeutic Discovery Project Grants|
ROCKVILLE, Md., Nov 09, 2010 (BUSINESS WIRE) -- Emergent BioSolutions Inc. (NYSE: EBS) today announced that it has been awarded five separate grants under the Qualifying Therapeutic Discovery Project (QTDP) Program to support continued development of its therapeutic programs in oncology and autoimmunity. The grants, with a total value of over $1.2 million, will fund Emergent's TRU-016 Small Modular ImmunoPharmaceutical (SMIP(TM)), DRACO anti-CD3 SMIP, X1 TNF-based SCORPION(TM), X2 CTLA4-based SCORPION, and T-Scorps-based SCORPION therapeutic programs.
"Emergent's product development efforts in oncology and autoimmunity continue to further candidates that could have the potential to improve disease outcomes and patient quality of life," said Dr. W. James Jackson, chief scientific officer of Emergent BioSolutions. "We are pleased that the U.S. government has recognized our efforts through these grant awards."
The QTDP Program was established by Congress as part of recent health legislation reform and is designed to foster biotechnology growth and innovation. The program also seeks to create and sustain biotechnology jobs in the U.S. To be an eligible recipient, a company must adequately demonstrate that it is working on therapeutic projects that:
About Emergent BioSolutions Inc.
Emergent BioSolutions Inc. is a global biopharmaceutical company focused on the development, manufacture and commercialization of vaccines and antibody therapies that assist the body's immune system to prevent or treat disease. Emergent's marketed and investigational products target infectious diseases, oncology, and autoimmune disorders. Additional information about the company may be found at www.emergentbiosolutions.com.
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 our strategy, future operations, future financial position, future revenues, projected costs, prospects, plans and objectives of management, including any potential future securities offering, our expected revenue growth and net earnings for 2010, and any other statements containing the words "believes", "expects", "anticipates", "plans", "estimates" and similar expressions, are forward-looking statements. 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 obtain additional development funding for our product candidates; the rate and degree of market acceptance and clinical utility of our products; the success of our ongoing and planned development programs, preclinical studies and clinical trials; the timing of and our ability to obtain and maintain regulatory approvals for our other product candidates; our ability to obtain sales contracts for products; our commercialization, marketing and manufacturing capabilities and strategy; our estimates regarding expenses, future revenue, capital requirements and needs for additional financing; and other factors identified in the company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2010 and subsequent reports filed with the SEC.
SOURCE: Emergent BioSolutions Inc.
Emergent BioSolutions Inc.