Achaogen receives contract from BARDA for developing ACHN-490 antibiotic treatment

Achaogen, a biopharmaceutical company discovering and developing innovative antibiotics to treat life-threatening, multi-drug resistant (MDR) bacterial infections, today announced the award of a contract with The Biomedical Advanced Research and Development Authority (BARDA), within the Office of the Assistant Secretary for Preparedness and Response in the U.S. Department of Health and Human Services. The contract covers development, manufacturing, and regulatory activities that would position Achaogen's lead antibiotic candidate ACHN-490 for the treatment of certain biothreat agents, including Yersinia pestis, which causes bubonic plague, and Francisella tularensis, which causes tularemia. The same activities will also provide significant value to the Company's overall development program for ACHN-490, which includes other life-threatening indications such as complicated urinary tract infections and hospital-acquired pneumonia.

“We are pleased to be the first awardee from BARDA's broad-spectrum antimicrobial initiative”

The contract includes a two-year base period with committed funding of $27 million and subsequent option periods that, if completed, would bring the total value of the award to $64.5 million.

"We are pleased to be the first awardee from BARDA's broad-spectrum antimicrobial initiative," said J. Kevin Judice, Ph.D., chief executive officer and chief scientific officer of Achaogen. "BARDA serves a critical leadership role in the global effort to combat bacterial biothreats and multi-drug resistance at a time when commercial investment is insufficient to meet the challenges we are facing. We look forward to working with BARDA and contributing to global efforts to combat bacterial biothreats and bacterial resistance as we continue the development of ACHN-490."

With this award, Achaogen has secured significant, non-dilutive funding for all of its ongoing drug discovery and development programs. In aggregate, upon successful completion of its existing government contracts, Achaogen will have received more than $150 million in non-dilutive funding.