New Data Show PharmAthene's Recombinant Bioscavenger Binds To A Broad Spectrum Of Chemical Nerve Agents

New Data Show PharmAthene's Recombinant Bioscavenger Binds To A Broad Spectrum
                           Of Chemical Nerve Agents

Nerve Agents Including Sarin and Tabun are Believed to be Part of the Syrian
Chemical Weapons Inventory

PR Newswire

ANNAPOLIS, Md., April 17, 2013

ANNAPOLIS, Md., April 17, 2013 /PRNewswire/ --PharmAthene, Inc. (NYSE MKT:
PIP), a biodefense company developing medical countermeasures against
biological and chemical threats, announced today that the U.S. Army Medical
Research Institute for Chemical Defense has completed initial in vitro testing
of the Company's recombinant butyrylcholinesterase (rBChE) bioscavenger
demonstrating that it successfully targets and binds to a broad spectrum of
nerve agents, including sarin and tabun, which are believed to be part of the
Syrian chemical weapons inventory.

"These promising new data demonstrate that PharmAthene's next generation rBChE
bioscavenger may be a viable candidate as a prophylactic and therapeutic for
nerve agent poisoning," remarked Eric I. Richman, President and Chief
Executive Officer. "PharmAthene is proud to be working in collaboration with
the Department of Defense (DoD) to develop innovative new medical
countermeasures solutions to address significant national security
imperatives. If successful, our next generation rBChE bioscavenger could
provide an efficient and flexible manufacturing approach and a more
cost-effective solution for the U.S. government to address the threat of
chemical weapons."

Butyrylcholinesterase (BChE) is a naturally occurring protein found in minute
quantities in blood. It functions as a natural bioscavenger to absorb toxins
such as organophosphorous compounds (nerve agents) and certain pesticides,
before they cause irreversible neurological damage.

Previous non-clinical studies in animals demonstrate that rBChE can 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

"In addition to these latest nerve agent binding data, we have recently
demonstrated that rBChE produced using the PER.C6^® human cell line is readily
scalable with greater than 99% purity," commented Dr. John Troyer, Vice
President, Chemical Defense Product Development. "Moreover, the PER.C6^®
manufacturing platform yields up to two thousand-fold more product per liter
than human plasma-derived BChE. Pharmacokinetic testing is currently underway
and we expect to begin non-clinical efficacy testing in the coming months."

About rBChE and Nerve Agents

PharmAthene is developing rBChE as a pre- and post-exposure therapy for
military 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
  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
(as defined in the Court's final judgment) 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™. Both parties have appealed aspects of
this ruling to the Delaware Supreme Court. A decision from the high court is
expected in the second quarter of 2013. For more information about
PharmAthene, please visit

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

SOURCE PharmAthene, Inc.

Contact: Stacey Jurchison, PharmAthene, Inc., Phone: (410) 269-2610,
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