PharmAthene and SIGA Technologies sign merger agreement to form biodefense company

ANNAPOLIS, Md., and NEW YORK CITY, 9 June 2006. PharmAthene Inc. and SIGA Technologies Inc. have signed a definitive agreement providing for the merger of PharmAthene and SIGA. The combined company, which will operate under the PharmAthene name, will be a biodefense business offering procurement-stage biodefense products targeting anthrax, smallpox, and chemical nerve agents, as well as a pipeline of drug candidates targeting Category A biowarfare agents and emerging infectious diseases.

ANNAPOLIS, Md., and NEW YORK CITY, 9 June 2006. PharmAthene Inc. and SIGA Technologies Inc. have signed a definitive agreement providing for the merger of PharmAthene and SIGA. The combined company, which will operate under the PharmAthene name, will be a biodefense business offering procurement-stage biodefense products targeting anthrax, smallpox, and chemical nerve agents, as well as a pipeline of therapeutic and prophylactic drug candidates targeting Category A biowarfare agents and emerging infectious diseases.

The merger agreement, which has been unanimously approved by the Boards of Directors of both companies, is subject to shareholder and regulatory approval, the completion of a financing transaction, and other customary closing conditions, and is expected to close in the third quarter.

David P. Wright, president and CEOfficer of PharmAthene, will serve as president and CEO of the combined company.

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