SIGA Announces Public Health Agency of Canada Contract Award to Purchase Up To Approximately $33 Million of Oral TPOXX

Second Contract by a Canadian Governmental Agency for the Procurement of Oral TPOXX

NEW YORK, Jan. 13, 2021 (GLOBE NEWSWIRE) -- SIGA Technologies, Inc. (SIGA) (NASDAQ: SIGA), a commercial-stage pharmaceutical company focused on the health security market, today announced that the Public Health Agency of Canada (PHAC) has awarded a contract to Meridian Medical Technologies, Inc. (“Meridian”, a Pfizer Company) (the “Contract”) for the purchase up to approximately $33 million of oral TPOXX (tecovirimat) within five years. The Contract specifies firm commitments for the purchase of approximately $3.4 million of oral TPOXX by March 31, 2021 and a cumulative purchase of approximately $17.2 million of oral TPOXX by March 31, 2023; the remaining courses under the Contract are scheduled to be purchased after March 31, 2023 and are subject to option exercise by PHAC. The Contract award follows, but is separate and incremental to, the issuance in April, 2020 of a contract by the Canadian Department of National Defence (CDND) for the delivery of up to approximately $14 million of oral TPOXX.

“We are pleased to work with the Public Health Agency of Canada to supply oral TPOXX, which highlights the importance of smallpox preparedness for not only the military, but also for civilian populations. Both the United States and Canada have underscored the critical role of preparedness for a smallpox outbreak with contracts for the procurement of TPOXX,” said Dr. Phil Gomez, CEO of SIGA Technologies. “We are continuing to work collaboratively with our partner, Meridian as well as the Department of Defence and the Canadian Public Health Agency to support procurement needs for TPOXX to protect Canada’s military and civilian populations, as well as additional jurisdictions around the world.”

As with all international sales of TPOXX, Meridian is the counterparty to the contract and SIGA will be responsible for the manufacture and delivery of product.

SIGA anticipates Canadian regulatory approval in late 2021 or early 2022.

In May 2019, SIGA entered into an international promotion agreement with Meridian. Under the agreement, Meridian will promote the sale of oral TPOXX for the treatment of smallpox in all international markets, except the United States. SIGA will continue to own all rights to the product and its related intellectual property.

ABOUT SIGA TECHNOLOGIES, INC. and TPOXX

SIGA Technologies, Inc. is a commercial-stage pharmaceutical company focused on the health security market. Health security comprises countermeasures for biological, chemical, radiological and nuclear attacks (biodefense market), vaccines and therapies for emerging infectious diseases, and health preparedness. Our lead product is TPOXX, also known as tecovirimat and ST-246, an orally administered and IV formulation antiviral drug for the treatment of human smallpox disease caused by variola virus. TPOXX is a novel small-molecule drug and the US maintains a stockpile of 1.7 million oral courses in the Strategic National Stockpile under Project BioShield. The oral formulation of TPOXX was approved by the FDA for the treatment of smallpox on July 13, 2018. In September 2018, SIGA signed a contract with Biomedical Advanced Research and Development Authority (BARDA) for additional procurement and development related to both oral and intravenous formulations of TPOXX. For more information about SIGA, please visit www.siga.com.