Cellerant Therapeutics has received additional funding of approximately $16.7m from Biomedical Advanced Research and Development Authority to advance CLT-008 development as a treatment for acute radiation syndrome .
The additional funding is expected to support Cellerant’s CLT-008 development strategy to expand its current clinical trials, process development and manufacturing activities and to fund additional nonclinical studies required for approval in ARS.
The current funding is a part of an existing contract valued at up to $153.2m previously awarded on 1 September 2010.
As per the revised deal, BARDA will grant up to $80m, in the two year base period of performance and up to an additional $89.9m in three option years, bringing the total value of the contract to $169.9m.
Cellerant president and CEO Ram Mandalam said they continue to make progress and the supplemental funding provides additional resources to advance CLT-008 closer to approval for therapeutic use.
