Soligenix Inc (OTCBB:SNGX) reported that it has finalized a development deal with Emergent BioSolutions to execute a commercially feasible, scalable production technology for vaccine candidate the ‘RiVax™’ that is being formulated to safeguard against ricin exposure. As per the agreement, the company will transfer the analytics and manufacturing processes to Emergent to perform process development work that could probably result in a future commercial manufacturing deal.
Soligenix Inc (OTCBB:SNGX) has been formulating RiVax™, together with its heat stabilization technology termed as ThermoVax™. It will act as a heat-stable bio-defense vaccine. The drug has shown complete protection in a preclinical trial of lethal ricin exposure as well as stability up to one year at forty degrees Celsius. The characteristics support its storage at ambient temperature. The drug is being developed as an effective and safe bio-defense vaccine which is not dependent on cold chain storage and shipment. The drug development project of the RiVax™ has been funded with government funds from the NIAID. The deal between Emergent and Soligenix is specifically funded by NIAID.
The expert comments
Christopher J. Schaber, the President and CEO of Soligenix Inc (OTCBB:SNGX), stated that they are delighted to finalize a deal with Emergent BioSolutions as they expand their initiatives to develop an effective and first-in-class vaccine to protect against ricin toxin exposure in conjunction with thermostabilization technology. Collaborating with Emergent and NIAID is a major step in moving ahead with the development of ThermoVax™ technology platform.
The company intends to utilize this unique technology to formulate a heat-stable ricin toxin drug that fulfills US Government guidelines and progresses on a vaccine thermostabilization platform. Adam Havey, the President and Executive VP of Biodefense segment at Emergent said that they are delighted to be working with Soligenix on NIAID contract.
In current trading session, the stock price of Soligenix Inc (OTCBB:SNGX) declined 2.41% and is trading at $1.62 on a volume of 18,376 shares.