PharmAthene and Theraclone Sciences to merge

Published: 1-Aug-2013

Will create diversified biologics company targeting government and commercial markets


PharmAthene, a US vaccine developer based in Annapolis, is merging with Theraclone Sciences, a privately held monoclonal antibody (mAb) discovery and development company headquartered in Seattle, to create a combined company focused on developing vaccines against infectious diseases and human monoclonal antibody (mAb) drugs against cancer. No financial details have been disclosed.

The merged company, to be headed by Theraclone CEO Clifford Stocks, will develop a pipeline of four pre-clinical programmes and multiple discovery candidates, along with three products being developed with partners.

‘A merger with Theraclone will significantly advance PharmAthene's goal of achieving broader portfolio diversification,’ said Eric Richman, President and Chief Executive of PharmAthene.

A merger with Theraclone will significantly advance PharmAthene's goal of achieving broader portfolio diversification

The four clinical stage products include TCN-202 CMV Antibody, a broadly neutralising mAb under development for the prevention and treatment of human cytomegalovirus (CMV) infections; TCN-032 Influenza Antibody for the treatment of pandemic and severe seasonal influenza; SparVax Anthrax Vaccine, a recombinant protective antigen (rPA), next-generation anthrax vaccine; and Valortim Anthrax Anti-Toxin, a fully human mAb for the prevention and treatment of anthrax.

In addition, the merged company will have a pre-clinical pipeline driven by the proprietary I-STAR memory B-cell interrogation platform, which facilitates the discovery of human antibodies against novel targets.

Theraclone has a discovery collaboration with Pfizer focused on infectious diseases and oncology, for which the company has received undisclosed upfront payments and research funding and may be eligible for development and commercialisation milestones and royalties on product sales in the future.

Theraclone also has an agreement with Zenyaku Kogyo, which has licensed the rights to the flu antibody programme in Japan.

The merger has been unanimously approved by both Boards of Directors and is subject to shareholder and regulatory approval, and other customary closing conditions.

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