Cellerant Therapeutics Awarded $13.5 Million Contract for Treatment of Acute Radiation...

Cellerant Therapeutics Awarded $13.5 Million Contract for Treatment of Acute Radiation Syndrome from the Biomedical Advanced Research and Development Authority (BARDA)

SAN CARLOS, Calif.--(Business Wire)--
Cellerant Therapeutics Inc., a biotechnology company developing
novel hematopoietic stem cell-based cellular and antibody therapies
for blood disorders and cancer, announced today that it has been
awarded a contract valued at $13.5 million dollars from the Biomedical
Advanced Research and Development Authority (BARDA) of the Department
of Health and Human Services for the development of a treatment for
acute radiation syndrome (ARS). Under terms of the contract, Cellerant
will receive $3.4 million in the first year and, depending on
development progress, up to $10.1 million in additional funds over
three years. Funds will be used to move Cellerant's lead program, a
human Myeloid Progenitor Cell product (CLT-008) from advanced
preclinical studies to Phase 1 and Phase 2 clinical trials, and to
conduct preclinical radiation efficacy studies.

"We are honored to have been awarded this important contract from
BARDA," said Dr. Ram Mandalam, President and CEO of Cellerant
Therapeutics. "Cellerant is proud to develop CLT-008 as an effective
nuclear countermeasure and to support our national security interests
with a solution for this unmet medical need. This contract not only
provides validation to Cellerant's technology platform, but also
enables us to significantly accelerate CLT-008's safety and efficacy
evaluation, including FDA approval. We expect to file an IND for
CLT-008 later this year."

CLT-008 is intended to provide hematopoietic cellular support
after radiation exposure to ARS patients. Various preclinical studies
conducted to date suggest that a single dose of CLT-008 could provide
effective treatment for ARS in an emergency situation, and can be
administered up to five days post-exposure to radiation. In addition
to the BARDA contract, Cellerant has received grant funding from the
Department of Defense through its partnership with the Joint Program
Executive Office for Chemical and Biological Defense, Chemical
Biological Medical Systems Joint Project Management Office as well as
funding from the National Institutes of Health for study of the
potential use of CLT-008 as a viable method of reducing the damage
caused by radiation exposure.

About CLT-008

CLT-008 is a unique, off-the-shelf, cryopreserved, cell-based
therapy that contains human Myeloid Progenitor Cells derived from
adult stem cells that have the ability to mature into functional
granulocytes, platelets and red blood cells in vivo. In pre-clinical
models, CLT-008 has been shown to be highly effective in providing
protection from lethal radiation, preventing infection, facilitating
stem cell engraftment and improving overall survival with a high
degree of efficiency. Cellerant is developing CLT-008 as an effective
treatment for chemotherapy induced neutropenia, protection from
exposure to acute radiation and facilitating cord blood
transplantation.

About Cellerant Therapeutics

Cellerant Therapeutics is a product-focused biotechnology company
with a portfolio of advanced and development stage preclinical
compounds based on the regulation of the hematopoietic (blood-forming)
system. Cellerant focuses on human stem cell and antibody therapies
for oncology applications and blood-related disorders. Cellerant is
developing a novel, cell-based medicine (Myeloid Progenitors) as a
treatment for chemotherapy- and radiation-induced neutropenia
(CLT-008) as well as for Acute Radiation Syndrome. The antibody
program is focused on identifying novel drug targets, and therapeutic
antibodies and small molecules aimed at cancer stem cells. For more
information on Cellerant, please visit http://www.cellerant.com.

About BARDA

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,
provides an integrated, systematic approach to the development and
purchase of the necessary vaccines, drugs, therapies, and diagnostic
tools for public health medical emergencies. BARDA manages Project
BioShield, which includes the procurement and advanced development of
medical countermeasures for chemical, biological, radiological, and
nuclear agents, as well as the advanced development and procurement of
medical countermeasures for pandemic influenza and other emerging
infectious diseases that fall outside the auspices of Project
BioShield. In addition, BARDA manages the Public Health Emergency
Medical Countermeasures Enterprise (PHEMCE).

Cellerant Therapeutics Inc.
Ram Mandalam, 1-650-232-5434
Ph.D. President and CEO
rmandalam@cellerant.com
or
for Cellerant Therapeutics
John Cummings, 1-415-517-0873

Copyright Business Wire 2008