United Therapeutics Corporation (NASDAQ: UTHR) announced that its subsidiary, Unither Virology, LLC, has been awarded a contract for up to approximately $45 million under a Broad Agency Announcement from the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH), for studies directed at the development of a broad-spectrum antiviral drug based on its glycobiology antiviral platform. Based on the support from this contract, approximately 20 jobs will be created at Unither Virology's headquarters in Silver Spring, Maryland, with additional jobs created at subcontractor organizations.
"I'm pleased with the development of our broad-spectrum antiviral program, which is in the preclinical stage," remarked Martine Rothblatt, Ph.D., United Therapeutics' Chairman and Chief Executive Officer. "The overall objective for this partnership with NIH is to develop a safe and orally available broad-spectrum antiviral drug to treat viruses such as dengue and influenza. Dengue is a painful mosquito-borne tropical fever suffered by millions of patients worldwide each year, and this program may help provide a path to treatment. It is also rewarding to see how our industry generates dozens of jobs when the science data justify expanding a program to its next stage of growth."
The contract provides for up to approximately $45 million in total funding over five years. The base period of 42 months includes approximately $10.6 million in funding. The remaining funds are allocated to eight milestone-based options. Funding will support the development of a candidate compound through preclinical safety and efficacy studies toward potential clinical trials against dengue, as well as preclinical studies to develop additional data against influenza.
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