Biotech Values

[DewDiligence]

GTCB’s bioterror angle:

[From today’s Boston Herald. Thanks to ‘biotech_riches’ on the GTCB board for the find.]

http://business.bostonherald.com/businessNews/view.bg?articleid=36620

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Bioshield bill could benefit area biotechs: Gov't looking to stockpile vaccines, drugs

By Jennifer Heldt Powell
Thursday, July 22, 2004

An antiterrorism bill President Bush signed into law yesterday could provide a boost to several local biotechs.

The bill, Project Bioshield, sets aside $5.6 billion over the next 10 years for the government to stockpile vaccines and drugs to fight anthrax, smallpox and other potential bioterror agents.

That measure ensures there will be a market for companies that want to develop those vaccines and treatments.

``Project Bioshield creates a lifesaving partnership between our government and the private sector,'' said Sen. Edward M. Kennedy (D-Mass.), a key bill supporter.

The bill also gives the government authority to speed research and development, making it easier for smaller companies to get involved, local biotech leaders say.

``It's the first step, and we're always pleased to have the first step,'' said Una Ryan, chief executive of Avent [sic] Immunotherapeutics, Inc. “Provided that we can look forward to continued funding, it's a great first step.”

The Needham company is developing a single-dose oral anthrax vaccine that would also offer protection against the plague.

Officials at Immunetics Inc., of Boston, hope the law will ensure a buyer for its recently approved anthrax test.

``There is not a vibrant commercial market for some of these bioterrorism products, but they do serve and important need,'' said Andrew Levin, Immunetics' chief executive.

The law will make it easier for companies, such as GTC Biotherapeutics Inc., that have ideas that might be developed into antibioterrorism products, Thomas E. Newberry said.

The Framingham company produces proteins from the milk of transgenic animals that can be used in medications.

``This creates a framework by which companies can come together and talk about proposals and the government can consider such proposals,'' Newberry said.
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