PHARMATHENE AND MEDAREX RECEIVE $2.05 MILLION CONGRESSIONAL APPROPRIATION

Medarex, Inc. and PharmAthene, Inc., a privately held biotechnology company dedicated to the development of biodefense products, today announced the House and Senate conference committee on the FY 2006 Department of Defense (DoD) Appropriations bill has included $2.05 million to support ongoing development of Valortim, a fully human monoclonal antibody being developed for the prevention and treatment of anthrax infection. The FY 2006 DoD appropriations bill was signed into law (PL 109-148) by President Bush on December 30, 2005.

Biotech Intelligence (http://www.biotech-intelligence.com/html/html/5d7f3c4f20080e95020673e884f911c8.html)