SIGA Announces Award of First International Contract for Oral TPOXX with Purchase by the Canadian Department of National Defence

- Contract for up to $14.3 million for 15,325 Courses -

NEW YORK, April 03, 2020 (GLOBE NEWSWIRE) -- SIGA Technologies, Inc. (SIGA) (NASDAQ: SIGA), a commercial-stage pharmaceutical company focused on the health security market, today announced that the Canadian Department of National Defence (CDND) has awarded a contract to Meridian Medical Technologies, Inc. (“Meridian”, a Pfizer Company) (Canadian Contract), in which it will purchase up to 15,325 courses of oral TPOXX (tecovirimat) over four years for a total value of $14.3 million, with an initial purchase of 2,500 courses for $2.3 million. 

“The current COVID-19 pandemic has reminded us all that preparedness with medical countermeasures is critical for responding effectively to any infectious disease outbreak,” said Dr. Phil Gomez, CEO of SIGA Technologies. “Smallpox remains a key threat, and TPOXX is an important component of any smallpox response plan.  This procurement by the Canadian military is an important first step, and we look forward to continuing to work with Meridian to support potential future procurements with both the CDND and Health Canada to protect Canada’s military and civilian population.”

SIGA expects delivery of up to an additional 12,825 courses under the Canadian Contract to occur after regulatory approval in Canada.  SIGA previously received a contract from the CDND to fund this regulatory submission.  The Company is currently targeting a Canadian regulatory filing in the second half of 2020, with regulatory approval anticipated in 2021.  This contract represents the first international order for TPOXX. As part of a previously announced promotion agreement, Meridian is the counterparty to the Canadian Contract and SIGA is responsible for the manufacture and delivery of product.

On July 13, 2018, the FDA approved oral TPOXX for the treatment of smallpox to mitigate the impact of a potential outbreak or bioterror attack. TPOXX, a small-molecule antiviral treatment for smallpox, is the first therapy specifically approved for this indication, and was developed through funding and collaboration with the Biomedical Advanced Research and Development Authority at the U.S. Department of Health and Human Services, as well as early stage development supported by the National Institutes of Health, U.S. Centers for Disease Control and Prevention, and Department of Defense.  The US currently maintains a stockpile of 1.7 million courses of TPOXX.