PharmAthene and Altimmune Announce Merger to Create Immunotherapeutics Company Targeting Infectious Diseases
"A merger with Altimmune is an ideal strategic match. It fulfills our stated goal of continuing to build value for
Details of Proposed Merger
The merger has been unanimously approved by both Boards of Directors and is subject to the approval of
Clinical Stage Product Pipeline
The combined company's clinical stage product candidates following the merger will include:
- NasoVAX: an intranasal, single dose, state-of-the-art recombinant influenza vaccine that in preclinical studies demonstrated early universal activity. Phase 2 is expected to commence during mid-2017 with initial data expected in 4Q17.
- HepTcell: a first-in-class immunotherapeutics for chronic hepatitis B with the potential to offer a functional cure. Phase 1 is ongoing with data expected 4Q17.
- SparVax-L: a next generation lyophilized anthrax vaccine (NIAID funded) that may be stored at room temperature and provides extended shelf life. A Phase 2 bridging study is anticipated to begin during the second half of 2017 with data anticipated during 2018.
- NasoShield: an intranasal, single dose, first-in-class anthrax vaccine (BARDA funded) that based on preclinical studies may offer protection within a few weeks of administration. A Phase 1 trial is expected to begin during the second half of 2017 with data anticipated during the first half of 2018.
Preclinical Product Pipeline
- In addition to the clinical stage product candidates, the combined company has one preclinical program, Oncosyn, driven by Altimmune's proprietary Densigen synthetic peptide technology investigating the utility of this platform in immuno-oncology indications.
Important Additional Information about Proposed Merger
This communication is being made in respect of the proposed merger involving
This communication shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities in connection with the proposed merger shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Participants in Solicitation
Altimmune is a clinical stage immunotherapeutics company focused on the development of products to stimulate robust and durable immune responses for the prevention and treatment of disease. The company has two proprietary platform technologies, RespirVec and Densigen, each of which has been shown to activate the immune system in distinctly different ways than traditional vaccines.
PharmAthene Forward-Looking Statement Disclosure
Any statements made in this press release relating to future financial or business performance, conditions, plans, prospects, trends, or strategies and other financial and business matters, including without limitation, the potential closing date of the transaction, the amount of
Other risks and uncertainties are more fully described in
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PharmAthene, Inc.: Melody A. Carey, Investor Relations, 917-322-2571, firstname.lastname@example.org; Altimmune, Inc.: Bill Enright, President and Chief Executive Officer, 240-654-1450, email@example.com