PharmAthene and SIGA Technologies sign definitive merger agreement


PharmAthene, Inc. and SIGA Technologies, Inc. announced that they have signed a definitive agreement providing for the merger of PharmAthene and SIGA. The combined company, which will operate under the "PharmAthene" name, shall be a leader in biodefense featuring a substantial portfolio of procurement-stage biodefense products targeting anthrax, smallpox and chemical nerve agents, as well as a robust pipeline of therapeutic and prophylactic drug candidates targeting Category A biowarfare agents and emerging infectious diseases.

"A strategic merger with SIGA significantly advances our strategy of building a leading biodefense company with a comprehensive portfolio of medical countermeasures to meet the urgent needs of our Nation and Allies," said David P. Wright, President and Chief Executive Officer of PharmAthene. "Combining PharmAthene's strong development and commercialization capabilities and procurement-stage biodefense products with SIGA's procurement-stage smallpox antiviral treatment, ST-246, and exceptional research pipeline, establishes a premier biodefense organization with multiple procurement-stage products with near-term revenue potential, and a broad research pipeline focused on biodefense and emerging infectious diseases."

The merger agreement, which has been unanimously approved by the Boards of Directors of both companies, is subject to shareholder and regulatory approval, the completion of a financing transaction, and other customary closing conditions, and is expected to close in the third quarter. David P. Wright, President and Chief Executive Officer of PharmAthene, will serve as President and Chief Executive Officer of the combined company. WR Hambrecht + Co and Sutter Securities Incorporated acted as financial advisors to PharmAthene and SIGA, respectively.

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