Cellphire Awarded $29.25 Million U.S. Army Cryopreserved Platelet Development Contract

ROCKVILLE, Md., Jan. 15, 2020 /PRNewswire/ -- Cellphire, the global leader in long-term stabilization and storage of platelets, announced today that the U.S. Army Medical Research Acquisition Activity (USAMRAA) has awarded the company a 6.5-year contract valued at $29.25 million (including all options) to develop a U.S. Food and Drug Administration (FDA) licensed dimethyl sulfoxide (DMSO) Cryopreserved Platelets (CPP) product. Under the contract, Cellphire will perform all research, development, manufacturing, and regulatory activities.

CPP are frozen platelets stabilized with DMSO, which can be stored for 2 years, unlike standard platelets which can only be stored for 5 to 7 days. The development of CPP is in direct support of the Army's effort to enhance battlefield management of severe hemorrhage due to combat trauma.

"Cellphire is pleased that USAMRAA has awarded us with this important contract," said G. Michael Fitzpatrick, Ph.D., President of Cellphire. "Our team is committed to the rapid development of a CPP product to help the Army achieve its goal of improving treatment of hemorrhage on the battlefield."

The Government has developed CPP through a Phase 1 dose escalation study. Cellphire will complete a Phase 2 clinical trial to demonstrate efficacy in cardiac surgery.

About Cellphire

Cellphire, Inc. is a clinical-stage biotechnology company developing next-generation therapeutics. The company is applying its proprietary cell stabilization technology to all cell types, including platelets, to develop lifesaving products. Its lead product is Thrombosomes®, a freeze-dried hemostatic derived from human platelets. Cellphire's technology has potential applications across a wide range of medical applications from trauma to wound care, imaging, targeted drug delivery, and regenerative medicine. For more information, visit www.cellphire.com.

This work is supported by the U.S. Army Medical Research and Development Command under Contract No. W81XWH20C0030.

The views, opinions and/or findings contained in this report are those of the author(s) and should not be construed as an official Department of the Army position, policy or decision unless so designated by other documentation.

SOURCE Cellphire Inc.