PharmAthene Secures Exclusive License To PER.C6® Cell Line For Commercial Production Of Recombinant Bioscavenger

  PharmAthene Secures Exclusive License To PER.C6® Cell Line For Commercial
                    Production Of Recombinant Bioscavenger

PR Newswire

ANNAPOLIS, Md., Jan. 14, 2013

ANNAPOLIS, Md., Jan. 14, 2013 /PRNewswire/ -- PharmAthene, Inc. (NYSE MKT:
PIP), a biodefense company developing medical countermeasures against
biological and chemical threats, announced today that it has entered into an
exclusive commercial license for the use of Percivia's proprietary PER.C6^®
technology platform in the production of PharmAthene's next generation
recombinant butyrylcholinesterase (rBChE) bioscavenger. 

The PER.C6^® platform is a human, cell-based manufacturing system that enables
the production of high quality, cost effective biological products for the
life sciences industry with the added benefit of being fully human, unlike
products manufactured using other expression systems. 

"The PER.C6^® platform offers many advantages over our initial transgenic
approach, which successfully completed a Phase I clinical study. These
include, the opportunity for higher production yields with substantially
reduced production costs and the capability for rapid scale up in the event of
a chemical weapons attack," commented Eric I. Richman, President and Chief
Executive Officer. "Also, since it is based on a recombinant human cell line,
the PER.C6^® platform should enable a final product with a pharmacokinetic
profile that more closely matches the naturally occurring
butyrylcholinesterase found in human plasma."

"PharmAthene is proud to be working in collaboration with the Department of
Defense (DoD) to develop innovative new medical countermeasure solutions to
address significant national security threats. The potential use of chemical
weapons represents a growing concern. If successful, our rBChE bioscavenger
platform could provide an efficient and flexible manufacturing approach and a
more cost-effective solution for the U.S. government to protect the U.S.
military and citizens from chemical weapons," said Dr. John Troyer, Vice
President, Chemical Defense Product Development. "We have made significant
advances under our current contract with the DoD and expect to begin
pharmacokinetic and efficacy testing of rBChE in animals in the coming
months."

A recombinant form of human butyrylcholinesterase, a naturally occurring
protein found in minute quantities in blood. BChE functions as a natural
bioscavenger, to absorb toxins such as organophosphorous compounds (nerve
agents) and certain pesticides, before they cause irreversible neurological
damage.

About rBChE and Nerve Agents

PharmAthene is developing rBChE as a pre- and post-exposure therapy for
casualties on the battlefield or civilian victims of nerve agent attacks.
Non-clinical studies in animals of PharmAthene's first generation rBChE
product candidate have demonstrated that rBChE has the potential to provide
significant protection against chemical nerve agent poisoning when
administered prophylactically (prior to exposure to nerve agent) and also may
increase survival when administered therapeutically (following nerve agent
exposure).

Nerve agents belong to a class of compounds known as organophosphorus (OP)
agents. OP nerve agents, such as sarin gas, soman, tabun or VX, enter the
blood stream via inhalation or absorption through the skin. The nerve agents
travel in the circulatory system to the brain and muscles causing the nerves
to become over-stimulated which leads to massive convulsions and death in
severe cases.

About PharmAthene, Inc.

PharmAthene was formed to meet the critical needs of the United States and its
allies by developing and commercializing medical countermeasures against
biological and chemical agents. PharmAthene's lead product development
programs include:

  oSparVax™ - next generation recombinant protective antigen (rPA) anthrax
    vaccine
  oRecombinant BChE- novel bioscavenger for the prevention and treatment of
    morbidity and mortality associated with exposure to chemical nerve agents
  oValortim^® - fully human monoclonal antibody for the prevention and
    treatment of anthrax infection

In addition, pursuant to a final judgment issued May 31, 2012 from the
Delaware Court of Chancery, PharmAthene is entitled to 50% of the net profits
over 10 years from all sales of SIGA Technologies' Arestvyr™ (formerly called
ST-246^®), a novel smallpox antiviral agent being developed by SIGA for the
treatment and prevention of morbidity and mortality associated with exposure
to the causative agent of smallpox, and related products, once SIGA receives
the first $40 million in net profits from sales of Arestvyr™. For more
information about PharmAthene, please visit www.PharmAthene.com.

Statement on Cautionary Factors

Except for the historical information presented herein, matters discussed may
constitute forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 that are subject to certain risks and
uncertainties that could cause actual results to differ materially from any
future results, performance or achievements expressed or implied by such
statements. Statements that are not historical facts, including statements
preceded by, followed by, or that include the words "potential"; "believe";
"anticipate"; "intend"; "plan"; "expect"; "estimate"; "could"; "may";
"should"; or similar statements are forward-looking statements. PharmAthene
disclaims, however, any intent or obligation to update these forward-looking
statements. Risks and uncertainties include risk associated with the
reliability of the results of the studies relating to human safety and
possible adverse effects resulting from the administration of the Company's
product candidates, unexpected funding delays and/or reductions or elimination
of U.S. government funding for one or more of the Company's development
programs, the award of government contracts to our competitors, unforeseen
safety issues, unexpected determinations that these product candidates prove
not to be effective and/or capable of being marketed as products, as well as
risks detailed from time to time in PharmAthene's Form 10-K under the caption
"Risk Factors" and in its other reports filed with the U.S. Securities and
Exchange Commission (the "SEC"). In particular, significant additional
research work, non-clinical animal studies, human clinical trials, and
manufacturing development work remain to be done with respect to rBChE. At
this point there can be no assurance that this product candidate will be shown
to be safe and effective and approved by regulatory authorities for use in
humans. Copies of PharmAthene's public disclosure filings are available from
its investor relations department and our website under the investor relations
tab at http://www.pharmathene.com.

SOURCE PharmAthene, Inc.

Website: http://www.pharmathene.com
Contact: Stacey Jurchison, PharmAthene, Inc., +1-410-269-2610,
Stacey.Jurchison@PharmAthene.com