Biopharmaceutical company Soligenix, Inc., announced on Friday that it was awarded a contract from the National Institutes of Health (NIH) to advance the development of both ThermoVax and RiVax, the company's ricin vaccine.
The federal contract, the third awarded to Soligenix, is valued at up to $24.7 million inclusive of options. The award will be funded specifically through the National Institute of Allergy and Infectious Diseases (NIAID).
"Securing this highly competitive NIAID contract provides further recognition as to the innovative quality and potential impact of both our vaccine and thermostabilization technologies," Christopher Schaber, the president and CEO of Soligenix, said. "With this new contract award, the company now has up to $57 million in NIAID and BARDA funding to advance the biodefense business segment. We thank NIAID for their past and present support and look forward to collaborating closely with them as we advance RiVax development towards potential FDA licensure and procurement for the national stockpile."
ThermoVax technology is designed to eliminate the cold chain production, distribution and storage logistics required by most vaccines. The product allows vaccines produced with ThermoVax during their final formulation to withstand temperatures at least as high as 104 degrees Farenheit for up to one year.