Boston, MA 09/09/2014 (wallstreetpr) – PharmAthene, Inc. (NYSEMKT:PIP) has extended its hand to Nanotherapeutics Inc. with aim to take on the biodefence market in the U.S. Under the formed alliance, the two companies target to develop a range of medical countermeasures and launch in the U.S. market. For its objective, both the companies have agreed to share their specific expertise as well as resources in order to progress on biodefense products that are agreed under individual product plans.
Preparing To Boost CounterMeasure Abilities
The President and Chief Executive Officer of PharmAthene, Inc (NYSEMKT:PIP), Eric I. Richman, commented that the U.S. is not fully prepared to fight against both man-made and natural bio threats. Thus, the company aims to fill the gap in association with Nanotherapeutics and is confident that the alliance of two would be fruitful to develop countermeasures. PharmaAthene considers the inclusion of Nanotherapeutics as an excellent match for the company’s strategies, business model and for its customers. The combination of expertise and resources of the two firms is believed to help scale up the progress on meeting the target of developing urgent countermeasures. At the same time, Nanptherapeutics too expressed its thoughts on similar lines as PharmAthene.
Capitalizing On Opportunities
The first product which will be undertaken by the two companies as part of their alliance is PharmAthene, Inc. (NYSEMKT:PIP)’s rBChE bioscavenger, which is a medical countermeasure for organophosphorous (OP) compounds that lead to nerve agent poisoning. Also, PharmAthene is focussing to capitalize on the extensive manufacturing and formulation abilities of Nanotherapeutics, which will give it an extra edge to control costs, improve production yields and to get a more clear pathway to FDA licensing procedures, unlike its previous conventional development approaches. The financial agreement between the two companies is not yet known, but as per reports, none of the parties have committed substantial funding in the alliance.
