Miami, FL – April 20, 2020 (EmergingGrowth.com NewsWire) — EmergingGrowth.com, a leading independent small cap media portal with an extensive history of providing unparalleled content for the Emerging Growth markets and companies, Mateon Therapeutics, Inc. (OTCQB: MATN).
Yesterday, Mateon Therapeutics, Inc. (OTCQB: MATN) filed its 8K on its BARDA Application and according to Vuong Trieu, CEO, “stands a strong chance of getting support for the program.”
Therapeutics for COVID-19 are next up for BARDA funding and we as well as other companies working on COVID-19 cures are being evaluated for similar support from BARDA. Mateon’s drug OT-101 combat not only the replication of the virus (similar to Gilead’s (NASDAQ: GILD) drug Remdesivir), OT-101 also combat the pneumonia that kill COVID-19 patients.
Last week Mateon submitted documents to BARDA via its Coronawatch portal and they are hopeful that they will be funded so that Mateon can accelerate their clinical development of OT-101 as COVID-19 cure.
The Biomedical Advanced Research and Development Authority (BARDA) is a U.S. Department of Health and Human Services office responsible for procurement and development of countermeasures principally against bioterrorism, but also including chemical, nuclear and radiological threats as well as pandemic influenza and emerging diseases. BARDA reports to the Office of the Assistant Secretary for Preparedness and Response and manages Project BioShield. BARDA also procures materials, such as vaccines, for the Strategic National Stockpile, and more broadly is an established interface between the U.S. Government and the biomedical industry. BARDA also manages the governmental inter-agency Public Health Emergency Medical Countermeasures Enterprise, providing coordination across the government in development and deployment of such countermeasures.
The Project BioShield Act of 2004 created a way to fund the research, development and stockpiling of vaccines and treatments that the government could use during public health emergencies such as a chemical, biological, radiological, or nuclear attacks. The agency gives funds to pharmaceutical companies to develop these countermeasures. To date, BARDA has helped get 52 products FDA approved.
BARDA has committed up to $483m to support the development of the Moderna mRNA vaccine candidate, mRNA-1273, against Covid-19. MRNA-1273 encodes for a prefusion stabilised form of the Spike (S) protein. It was selected by Moderna in collaboration with investigators from the Vaccine Research Center (VRC) at the National Institutes of Health (NIH)’s National Institute of Allergy and Infectious Diseases (NIAID). Under the agreement, BARDA will fund the development of mRNA-1273 to FDA licensure.
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