SIGA- .85
(COMTEX) B: SIGA Announces a $3.2 Million Contract with the United States
rmy Medical Research and Material Command
B: SIGA Announces a $3.2 Million Contract with the United States Army Medical Re
earch and Material Command
NEW YORK, Sep 27, 2005 (BUSINESS WIRE) -- SIGA Technologies, Inc. (NASDAQ:
SIGA) announced today that it has entered into a $3.2 million, one year contract
with the United States Army Medical Research and Material Command (USAMRMC). The
agreement, for the rapid identification and treatment of anti-viral diseases, is
funded through the United States Air Force (USAF). SIGA's efforts will aid the
USAF Special Operations Command in its use of computational biology to design
and develop specific countermeasures against the biological threat agents
Smallpox and Adenovirus. Smallpox is a Center for Disease Control and Prevention
(CDC) Category A biothreat agent, and Adenovirus is a cause of significant
respiratory infectious disease, both of which may impair the combat readiness of
USAF Personnel.
SIGA's computational approach to the development of countermeasures is designed
to interface with USAF programs for the identification of potential agents of
bioterrorism, and will provide a key building block in the foundation of a rapid
response capability to biological threat agents. War-fighters and special
operations forces, in particular, may be called upon to operate in environments
containing known or unknown pathogens. Until these pathogens can be accurately
identified and neutralized, our war fighters, Special Operations Forces and our
nation remain vulnerable to the release of both natural and engineered viral
pathogens.
"I am very excited about our relations with the USAF and SIGA's ability to
participate in an effort which, I believe, is of crucial importance to our
nation," said SIGA's CEO, Dr. Bernard L. Kasten. "I see a clear opportunity to
continue working with the USAF in the future and to further advance SIGA's
antiviral counter measure programs."
"We welcome the opportunity to work with our USAF colleagues to develop this
important biological defense capability", said Dr. Dennis E. Hruby, Chief
Scientific Officer of SIGA.
About SIGA Technologies, Inc.
SIGA Technologies is applying viral and bacterial genomics and sophisticated
computational modeling in the design and development of novel products for the
prevention and treatment of serious infectious diseases, with an emphasis on
products for biological warfare defense. SIGA has the potential to become a
significant force in the discovery of vaccine and pharmaceutical agents to fight
emerging pathogens. SIGA's product development programs emphasize the
increasingly serious problem of drug resistant bacteria and emerging pathogens.
SIGA's vaccine and drug platforms are based on its pioneering research into the
structure, function and processing of bacterial surface proteins. In addition to
smallpox, SIGA also has antiviral programs targeting other Category A pathogens
which cause hemorrhagic fevers. Included are the arenaviruses (Lassa Fever
Virus, Junin, Macupo, Guanarito, and Sabia), Lymphocytic choriomeningitis virus
(LCMV), Dengue, and the filoviruses, Ebola and Marburg. For more information
about SIGA, please visit SIGA's Web site at www.siga.com.
Forward-looking statements
This Press Release contains certain "forward-looking statements'' within the
meaning of the Private Securities Litigation Reform Act of 1995, as amended,
including statements regarding the efficacy of potential products, the timelines
for bringing such products to market and the availability of funding sources for
continued development of such products. Forward-looking statements are based on
management's estimates, assumptions and projections, and are subject to
uncertainties, many of which are beyond the control of SIGA. Actual results may
differ materially from those anticipated in any forward-looking statement.
Factors that may cause such differences include the risks that (a) potential
products that appear promising to SIGA or its collaborators cannot be shown to
be efficacious or safe in subsequent pre-clinical or clinical trials, (b) SIGA
or its collaborators will not obtain appropriate or necessary governmental
approvals to market these or other potential products, (c) SIGA may not be able
to obtain anticipated funding for its development projects or other needed
funding, and (d) SIGA may not be able to secure funding from anticipated
government contracts and grants, (e) SIGA may not be able to secure or enforce
adequate legal protection, including patent protection, for its products and (f)
unanticipated internal control deficiencies or weaknesses or ineffective
disclosure controls and procedures. More detailed information about SIGA and
risk factors that may affect the realization of forward-looking statements,
including the forward-looking statements in this Press Release and the above
mentioned presentation, is set forth in SIGA's filings with the Securities and
Exchange Commission, including SIGA's Annual Report on Form 10-K for the fiscal
year ended December 31, 2004, and in other documents that SIGA has filed with
the Commission. SIGA urges investors and security holders to read those
documents free of charge at the Commission's Web site at sec.gov.
Interested parties may also obtain those documents free of charge from SIGA.
Forward-looking statements speak only as to the date they are made and except
for our obligations under the U.S. federal securities laws, we undertake no
obligation to publicly update any forward-looking statements as a result of new
information, future events or otherwise.
SOURCE: SIGA Technologies, Inc.
CONTACT: SIGA Technologies, Inc.
Dr. Bernard L. Kasten, 212-672-9100
bkasten@siga.com
Copyright Business Wire 2005
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As of Friday, 09-23-2005 23:59, the latest Comtex SmarTrend(SM) Alert,
an automated pattern recognition system, indicated an UPTREND on
08-03-2005 for SIGA @ $1.02.
(C) 2005 Comtex News Network, Inc. All rights reserved.
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KEYWORD: United States
North America
New York
INDUSTRY KEYWORD: Government
Federal
Other Government
Health
Biotechnology
Genetics
Infectious Diseases
Pharmaceutical
Research & Science
SUBJECT CODE: Contract/Agreement
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