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Biotech / Medical : Munch-a-Biotech Today
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From: Nikole Wollerstein9/17/2010 10:32:26 AM
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Cleveland BioLabs Inc. has been awarded a $45 million contract from the U.S. Department of Defense to develop and stockpile CBLB502 as a medical radiation countermeasure.

The Buffalo-based company (NASDAQ: CBLI) developed the drug to treat Acute Radiation System.

In July, U.S. Food and Drug Administration granted Cleveland BioLabs fast-track status. When licensed by the FDA, the contract provides options for the purchase of $30 million worth of CBLB502 troop equivalent doses.

“This contract reflects our successful collaboration with the (Chemical Biological and Medical Systems Medical Identification and Treatment Systems) over the past two years and their evaluation of CBLB502’s potential safety and efficacy as a radiation countermeasure suitable for the armed forces’ needs,” said Michael Fonstein, Ph.D., CEO and president of Cleveland BioLabs. “We view this initial commitment as the first potential commercial validation of CBLB502 and the beginning of our shift from development to procurement. We continue to advance CBLB502 towards FDA licensure and believe that CBLB502 will play a significant role in domestic and global biodefense preparedness.”

The company said the drug will protect military personnel from the effects of lethal doses of total body irradiation following a radiation disaster and decrease incapacitation from radiation in order to maintain military operations. There is currently no FDA approved medical countermeasure to reduce the risk of death following a lethal dose of total body irradiation.

Read more: Cleveland BioLabs awarded $45M contract - Business First of Buffalo
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