SIGA Announces Agreement With ViroPharma To Purchase Biodefense Assets
SIGA Technologies, Inc. (NASDAQ: SIGA) and (FRANKFURT: SGW 919 473) today announced the signing of an Asset Purchase Agreement to acquire certain antiviral programs targeting potential agents of biological warfare from ViroPharma Incorporated (VPHM) for a purchase price of $1 million in cash and 1 million shares of SIGA common stock. SIGA will purchase lead compounds, assays and scientific know-how related to development of antiviral drugs, including those targeting smallpox and hemorrhagic fever viruses such as the Ebola virus. The research programs being acquired are currently the subject of grants from the National Institutes of Health (NIH). The closing of the acquisition is subject to customary closing conditions, including obtaining approval of the transfer of the grants. "We are very pleased to add these exciting programs to our biodefense research and development portfolio. Effective protection of our population will require multiple drugs against multiple pathogens, and these additional product opportunities will provide SIGA with the means to contribute to this process," remarked Dr. Dennis E. Hruby, SIGA's Chief Scientific Officer.