BioHybrid Solutions Awarded $30M Contract by the US Dept. of Defense

PITTSBURGH, Dec. 4, 2019 /PRNewswire/ -- BioHybrid Solutions, LLC (BHS), a Pittsburgh-based protein engineering company, announced today that it was awarded a contract worth up to $30 million from the United States Department of Defense to develop a next-generation prophylactic medical countermeasure. The project was sponsored by the U.S. Government through the Medical CBRN Defense Consortium (MCDC).

The U.S. Defense Threat Reduction Agency (DTRA) selected BHS through a request for prototype proposal under the MCDC to apply its proprietary NanoArmored™ protein engineering technology to improve pharmacokinetics of the prophylactic while reducing the potential for immunogenic side effects. Over the five-year program, BHS will develop NanoArmored™ drug candidates, conduct studies to demonstrate functionality, scale manufacturing, and complete regulatory activities towards approval of the countermeasure by the U.S. Food and Drug Administration (FDA). BHS is leading the program in collaboration with FLIR Systems, Battelle, Ology Bioservices, the Allegheny Health Network, BTG PLC (now part of Boston Scientific) and the US Army.

"We have developed a unique way to protect against the toxic effects of chemical warfare agents and are honored to have been selected by DTRA to lead this very important program," said Alan Russell, Co-Founder and CEO of BioHybrid Solutions.

In order to expedite development, BHS will utilize its specialized high-throughput discovery technology to rapidly select the NanoArmor needed and then manufacture that drug candidate. "Our technology allows us to rationally tune protein performance through precision modification of proteins with a wide variety of synthetic polymers," noted Krzysztof Matyjaszewski, BHS Co-Founder and CSO. "To date, we have created thousands of different NanoArmored proteins for a variety of industrial and therapeutic indications. We are well positioned to apply our technology to this important national security and public health application."

About BioHybrid Solutions, LLC
BioHybrid Solutions (BHS), is a transformational platform technology company that develops next-generation NanoArmored™ protein-polymer conjugates. Using proprietary technology originally developed at Carnegie Mellon University, proteins are rationally and precisely modified with polymers to dramatically improve their stability and performance. The NanoArmor platform technology can be applied across the $150 billion biocatalysis and therapeutics marketplace. NanoArmor technology can dramatically improve processes, resulting in higher throughput, less waste, and lower costs. In addition, this technology can also open new routes of administration (such as, injectable to oral), improve pharmacokinetics, and reduce immunogenicity. BHS is developing the foundation through which any protein can be NanoArmored™ to provide cost-effective solutions to protein users across industry.

For more information, please visit: https://biohybridsolutions.com

Forward Looking Statements
This press release may contain forward-looking statements, which, if not based on historical facts, involve current assumptions and forecasts as well as risks and uncertainties. Our actual results may differ materially from the results or events stated in the forward-looking statements, including, but not limited to, certain events not within the Company's control. Events that could cause results to differ include failure to meet ongoing developmental and manufacturing timelines, changing GMP requirements, the need for additional capital requirements, risks associated with regulatory approval processes, adverse changes to reimbursement for the Company's products/services, and delays with respect to market acceptance of new products/services and technologies. Other risks may be detailed from time to time, but the Company does not attempt to revise or update its forward-looking statements even if future experience or changes make it evident that any projected events or results expressed or implied therein will not be realized.

Contact:
Joanna Doven
Premo Consultants
jdoven@premoconsultants.com

View original content:http://www.prnewswire.com/news-releases/biohybrid-solutions-awarded-30m-contract-by-the-us-dept-of-defense-300969268.html

SOURCE BioHybrid Solutions, LLC