Bavarian Nordic Applauds Reauthorization of Key U.S. Biodefense Programs
- New Law Demonstrates the Government's Commitment to Develop and Purchase Medical Countermeasures
KVISTGÅRD, Denmark - March 5, 2013 - Bavarian Nordic A/S (NASDAQ OMX: BAVA) today applauded the final passage of the Pandemic and All-Hazards Preparedness Reauthorization Act of 2013. This new law continues and improves key biodefense programs that support companies engaged in research, development, and manufacture of medical countermeasures, including vaccines. It demonstrates the U.S. government's continued commitment to develop and purchase medical products to protect the American people from a terrorist attack or other public health emergency.
"We are very pleased that the U.S. government has committed to maintaining and improving their stockpile of medical countermeasures by reauthorizing $2.8 billion in BioShield funding over the next five years," said Bavarian Nordic President and CEO Anders Hedegaard. "This new law will also speed up medical countermeasure development which will benefit our long-term relationship with the U.S. government on the development and stockpiling of current and future biodefense vaccines."
Bavarian Nordic has worked with the U.S. government - in particular the Biomedical Advanced Research and Development Authority - for over ten years on the development and delivery of IMVAMUNE®, a non-replicating smallpox vaccine. This year, the company will finalize the delivery of the first 20 million doses of IMVAMUNE® to the government's Strategic National Stockpile as part of a Project BioShield contract awarded in 2007. The company anticipates the government to exercise an option under the contract to purchase more doses.
"The Pandemic and All-Hazards Preparedness Reauthorization Act advances four of the recommendations identified in our recent industry report titled Medical Countermeasures: A Roundtable Discussion," said Maureen Hardwick, Executive Secretary of the Alliance for Biosecurity. "While significant funding challenges identified in the report remain, the Alliance for Biosecurity applauds passage of this important legislation, which helps provide companies developing medical countermeasures with a more transparent and consistent path to FDA licensure."