9/3/2013 10:06:53 AM
WATERTOWN, Mass.--(BUSINESS WIRE)--Enanta Pharmaceuticals, Inc., (NASDAQ: ENTA), a research and development-focused biotechnology company dedicated to creating small molecule drugs in the infectious disease field, today announced that the National Institute of Allergy and Infectious Diseases (NIAID), a division of the National Institutes of Health (NIH), has agreed to provide additional funding of $9.2 million to its existing contract with Enanta to fund preclinical and early clinical development for a new class of bridged bicyclic antibiotics known as Bicyclolides. NIAID is funding development of the Bicyclolides for use as medical countermeasures against multiple biodefense Category A and B bacteria. This brings total funding from NIAID to date to approximately $23.5 million. As part of a multi-year contract that was awarded in 2011, this funding could total approximately $42.7 million if all project milestones are met and NIAID exercises all its options to fund additional development under the contract.
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