Elusys Therapeutics Inc., which is being bought by Heat Biologics Inc., said it has finalized a contract with the Office of the Assistant Secretary for Preparedness and Response in the U.S. Department of Health and Human Services for the continued supply of an anthrax antitoxin for use in the event of a possible attack.
The company said the contract for the procurement of the antitoxin, Anthim obiltoxaximab, consists of a base period of performance, valued at $50 million, which has been fulfilled.
The contract includes options valued up to $31 million. If all options are exercised, the total contract value will be $80.98 million with completion of the contract expected by the first half of 2023, the company said.
Elusys is merging into a wholly owned subsidiary of Heat Biologics, and the acquisition is expected to close during the first quarter of 2022.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.