BARDA exercises additional contract options with Aeolus worth $6 million

Aeolus Pharmaceuticals, Inc., announced on Tuesday that the Biomedical Advanced Research and Development Authority has exercised $6 million in additional contract options for the research and development of AEOL-10150.

The compound AEOL-10150 is used as a treatment for the pulmonary syndrome of Acute Radiation Syndrome and delayed effects of acute radiation exposure. Aeolus is developing AEOL-10150 under a five year contract with BARDA, which is worth up to $118 million.

"BARDA's exercise of additional options reflects the significant progress our team has made during the first two years of the Lung-ARS development contract," John L. McManus, the chief executive officer and president of Aeolus, said. "During this period, we delivered valuable animal models for Lung-ARS and made important progress in the manufacturing of AEOL-10150."

The contract was originally awarded on February 11, 2011 to produce the data necessary for an approval under the FDA "Animal Rule" and for a pre-Emergency Use Authorization filing. Should the filing be approved, it would allow the federal government to buy AEOL-10150 for the Strategic National Stockpile.

"The options that BARDA exercised will fund our IND filing for AEOL-10150 as a treatment for Lung-ARS, additional animal efficacy studies designed to optimize timing and duration of dosing and the continued development of large-scale GMP manufacturing capability to meet potential future demand," McManus said. "When combined with our ongoing studies in non-human primates and our completed work in GMP manufacturing development, these options will help Aeolus meet the requirements for a pre-EUA filing for AEOL-10150. We remain grateful to BARDA for the financial support and program input that we receive."

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Aeolus Pharmaceuticals

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