SIGA Announces Receipt Of $12 Million In NIH Funding For Biodefense

SIGA Technologies, Inc. (NASDAQ: SIGA) today announced the receipt of two grants totaling approximately $12 million from the National Institutes of Health (NIH). The $12 million in grant funding will be received over the next two years and will support the development of the biowarfare defense assets recently acquired from ViroPharma. The grant awards include funding for the preclinical development of antivirals targeting smallpox and arenaviruses, as well as drug discovery efforts against other hemorrhagic fever viruses such as Ebola. "We are pleased to receive these awards validating SIGA's capabilities to take these research programs to the next level. This support will make a significant impact accelerating development of these important biodefense products," said Dr. Dennis E. Hruby, Chief Scientific Officer of SIGA. Smallpox and arenaviruses are Category A bioterrorism agents, both are considered significant threats due to their ease of transmission, high mortality rates and lack of vaccination. Present treatments for smallpox cannot be administered to the general population without significant risk of adverse reactions. Likewise, no treatment for arenaviruses, (a causative agent of viral hemorrhagic fevers), currently exists.

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