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SIGA - SIGA Technologies Inc News Story

$7.07 -0.2  -2.1%

Last Trade - 25/11/20

Sector
Healthcare
Size
Mid Cap
Market Cap £418.4m
Enterprise Value £359.5m
Revenue £68.5m
Position in Universe 2972nd / 6429

SIGA Announces Public Health Agency of Canada Intent to Purchase Up To 33,300 Courses of Oral TPOXX®

Thu 8th October, 2020 12:30pm
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* Public Health Agency of Canada Contract would be Second Contract by a
Canadian Governmental Agency for the Procurement of Oral TPOXX

* Delivery of 18,500 Courses by March 31, 2023; Delivery of Additional 14,800
Courses Subject to Option Exercise
NEW YORK, Oct. 08, 2020 (GLOBE NEWSWIRE) -- SIGA Technologies, Inc. (SIGA)
(NASDAQ: SIGA), a commercial-stage pharmaceutical company focused on the
health security market, today announced that the Public Health Agency of
Canada (PHAC) has issued an advanced contract award notice (ACAN), indicating
that the PHAC intends to purchase up to 33,300 courses of oral TPOXX(®)
(tecovirimat) within five years as specified in the ACAN, with 3,700 courses
to be delivered by March 31, 2021; a cumulative total of 18,500 courses to be
delivered by March 31, 2023; and an additional 14,800 courses to be delivered
after March 31, 2023, subject to option exercise. The ACAN is required to
remain open for at least 15 days, during which time a potential alternative
supplier may submit a competing Statement of Capabilities. This ACAN follows,
but is separate and incremental to, the issuance in April, 2020 of a contract
by the Canadian Department of National Defence (CDND) for the delivery of up
to 15,325 courses of oral TPOXX.

“We are pleased to see this ACAN from the Public Health Agency of Canada,
which highlights the importance of smallpox preparedness for not only the
military, but also for civilian populations. The COVID-19 pandemic has shown
how devastating a pandemic can be to both human health and the economy, and it
has highlighted that an effective therapeutic to mitigate the impact of a
potential smallpox outbreak is critical. Both the United States and Canada
have highlighted the importance of preparedness with contracts for the
procurement of TPOXX,” said Dr. Phil Gomez, CEO of SIGA Technologies. “We
are continuing to work collaboratively with our partner, Meridian Medical
Technologies, Inc. and both the Department of Defence and the Health Agency to
support procurement needs for TPOXX to protect Canada’s military and
civilian populations.”

The value of courses to be sold to Canada will be disclosed upon any final
award by the Canadian government. In any contract issued by Canada, Meridian
Medical Technologies, Inc. (“Meridian”, a Pfizer Company) will be the
counterparty to the contract and SIGA will be responsible for the manufacture
and delivery of product.

The ACAN notice can be found at:
https://buyandsell.gc.ca/procurement-data/tender-notice/PW-PH-896-79143

SIGA was also previously awarded separate funding by the Canadian authorities
to support submission of an application for marketing authorization of oral
TPOXX to Health Canada, which is targeted to be submitted by the end of 2020.
SIGA anticipates approval in 2021.

In May 2019, SIGA entered into an international promotion agreement with
Meridian. Under the agreement, Meridian will promote the sale of oral TPOXX
for the treatment of smallpox in all international markets, except the United
States. SIGA will continue to own all rights to the product and its related
intellectual property.

ABOUT SIGA TECHNOLOGIES, INC. and TPOXX(®)

SIGA Technologies, Inc. is a commercial-stage pharmaceutical company focused
on the health security market. Health security comprises countermeasures for
biological, chemical, radiological and nuclear attacks (biodefense market),
vaccines and therapies for emerging infectious diseases, and health
preparedness. Our lead product is TPOXX(®), also known as tecovirimat and
ST-246(®), an orally administered and IV formulation antiviral drug for the
treatment of human smallpox disease caused by variola virus. TPOXX is a novel
small-molecule drug and the US maintains a stockpile of 1.7 million oral
courses in the Strategic National Stockpile under Project BioShield. The oral
formulation of TPOXX was approved by the FDA for the treatment of smallpox on
July 13, 2018. In September 2018, SIGA signed a contract with Biomedical
Advanced Research and Development Authority (BARDA) for additional procurement
and development related to both oral and intravenous formulations of TPOXX.
For more information about SIGA, please visit www.siga.com.

ABOUT MERIDIAN MEDICAL TECHNOLOGIES, INC.

Meridian Medical Technologies, Inc., a Pfizer company, has been putting
emergency care treatment options into the hands of military and civilian
defenders for more than 50 years. Meridian is committed to help defend against
critical, time-sensitive, life-or-death situations by providing medical
countermeasures to the United States Department of Defense, Emergency Medical
Services, Homeland Security, and more than 30 nations around the world.

Meridian holds a federal SAFETY Act designation and certification from the
Department of Homeland Security for its portfolio of auto-injectors. The
SAFETY Act is intended to provide critical incentives for the development and
deployment of anti-terrorism technologies by providing liability protections
for sellers of qualified anti-terrorism technologies.

About Smallpox(1)

Smallpox is a contagious, disfiguring and often deadly disease that has
affected humans for thousands of years. Naturally occurring smallpox was
eradicated worldwide by 1980, the result of an unprecedented global
immunization campaign. Samples of smallpox virus have been kept for research
purposes. This has led to concerns that smallpox could someday be used as a
biological warfare agent. A vaccine can prevent smallpox, but the risk of the
current vaccine's side effects is too high to justify routine vaccination for
people at low risk of exposure to the smallpox virus.

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.
Such forward-looking statements are subject to various known and unknown risks
and uncertainties, and SIGA cautions you that any forward-looking information
provided by or on behalf of SIGA is not a guarantee of future performance.
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, 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, 2018, and in other documents that
SIGA has filed with the SEC. SIGA urges investors and security holders to read
those documents free of charge at the SEC's web site at http://www.sec.gov.
Interested parties may also obtain those documents free of charge from SIGA.
Forward-looking statements are current only as of the date on which such
statements were made, and except for our ongoing obligations under the United
States of America federal securities laws, we undertake no obligation to
update publicly any forward-looking statements whether as a result of new
information, future events, or otherwise.

The information contained in this press release does not necessarily reflect
the position or the policy of the Government and no official endorsement
should be inferred.

Contacts:

Investors
David Carey 
212-867-1768
david.carey@finnpartners.com

Media
Stephanie Seiler
206-713-0124
stephanie.seiler@finnpartners.com

(1) http://www.mayoclinic.org/diseases-conditions/smallpox/basics/definition/con-20022769

(https://www.globenewswire.com/NewsRoom/AttachmentNg/f6bb4557-ff79-4aa8-88ef-c41de9ffd198)



GlobeNewswire, Inc. 2020
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