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Protein Sciences Announces Termination of Deal to Sell to Emergent BioSolutions
Date:7/29/2008

nnounced that it reached an important milestone related to FluBlok when it successfully produced the vaccine necessary to combat each of the three strains that will make up the influenza vaccine for the 2008-2009 flu season.

PSC also announced that it submitted a proposal for federal funding for a contract to develop recombinant seasonal and pandemic influenza vaccines from the Department of Health and Human Services (BARDA). Negotiations over the contract have been ongoing and a decision may be reached by BARDA within the next few weeks. PSC has requested funding for, among other things, additional clinical trials to support pediatric and pandemic formulations of FluBlok; purchase of equipment for large scale manufacturing; and process and manufacturing facility validation as specified in the Request for Proposal issued by BARDA in 2007. If the contract is awarded, PSC expects that the work and funding will be spread over a five-year period.

About PSC. PSC is a privately held biotechnology company that uses proprietary recombinant DNA technology to manufacture human and animal vaccines, therapeutics and diagnostics. Our lead product is a human seasonal flu vaccine -- FluBlok(R). Our underlying technology is a viable alternative production platform to the egg-based production methods that currently dominate vaccine production and our 2007 revenues were in excess of $6,000,000, primarily from our GeneXpress and research antigen business.


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SOURCE Protein Sciences Corporation
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