Heat Biologics Merger Partner Elusys Therapeutics Says Has Finalized Contract With HHS Office Of The Assistant Secretary For Preparedness And Response; Completed First Phase Of Contract For $50M

Author: Bill Haddad | January 31, 2022 08:37am

Completed first phase of contract for $50 million; HHS options to procure up to $31 million of ANTHIM by the first half of 2023
 

Reaffirms ANTHIM as an important medical countermeasure in the U.S. government's strategy to maintain sufficient quantities of anthrax anti-toxin to effectively respond to an anthrax emergency

PARSIPPANY, N.J., Jan. 31, 2022 (GLOBE NEWSWIRE) -- Elusys Therapeutics, Inc. (Elusys) announced today that it has finalized a contract with the Office of the Assistant Secretary for Preparedness and Response (ASPR) in the U.S. Department of Health and Human Services (HHS) for the continued supply of ANTHIM (obiltoxaximab), an anthrax antitoxin, for use against a potential anthrax attack.

"Elusys is pleased to continue its successful track record of supplying a critical medicine to treat the deadly effects of anthrax exposure," said Elizabeth Posillico, president and chief executive officer of Elusys. "ANTHIM is a key therapeutic in the U.S. government's preparedness strategy to protect the U.S. population against natural and man-made biothreats."

The contract for the procurement of ANTHIM 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 $80,864,000 with completion of the contract expected by the first half of 2023. Contract 75A50121C00073 is funded by HHS ASPR.

As previously announced, Elusys has executed a definitive merger agreement with Heat Biologics, Inc. (NASDAQ:HTBX), pursuant to which Elusys will merge into a wholly owned subsidiary of Heat. The acquisition is expected to close during the first quarter of 2022 and is subject to customary closing conditions.

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