Bird Flu: Science and Policy

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BioCryst Awarded $102.6 Million from U.S. Department of Health and Human Services to Develop Peramivir for Seasonal and Pandemic Influenza

Thursday January 4, 12:21 pm ET
U.S. Government Award Highlights Potential Importance of Peramivir as an Antiviral Therapy to Protect Nation Against Seasonal and Pandemic Influenza

BIRMINGHAM, Ala., Jan. 4 /PRNewswire-FirstCall/ -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX - News) today announced that it has been awarded a $102.6 million, four-year contract from the U.S. Department of Health and Human Services (DHHS) to develop the influenza neuraminidase inhibitor, peramivir, for the treatment of seasonal and life-threatening influenza, including avian flu.

(Logo: http://www.newscom.com/cgi-bin/prnh/20030414/BIOCRYSTLOGO)

"BioCryst is pleased to be working with the U.S. Government to further strengthen pandemic preparedness through the development of peramivir, a potentially safe and effective therapy for the treatment for seasonal and life-threatening influenza," said Charles E. Bugg, Ph.D., Chairman and CEO of BioCryst. "We are dedicated to working together to address the potential health crisis of an avian flu pandemic, as well as the annual threat of seasonal influenza."

Peramivir is an antiviral agent that inhibits the enzyme neuraminidase, potentially preventing the spread of the influenza virus.

The award made to BioCryst is part of a larger HHS initiative to pursue the development of new therapies and vaccines which may expand the ability of the United States to respond quickly to a potential pandemic. Receiving this contract from HHS further confirms the potential importance of peramivir as an effective antiviral agent for the treatment of seasonal and life-threatening influenza, including avian flu.

This contract commits $102.6 million to support the full development of both intravenous and intramuscular formulations of peramivir. The contract also funds the validation of multiple U.S.-based manufacturing facilities.

The company will sponsor a conference call at 4:30 p.m. Eastern Time today. The call is open to the public and can be accessed live either over the Internet from http://www.biocryst.com or by dialing 1-800-822-4794 (U.S.) or 1-913-981-4912 (international). No passcode is needed for the call.