Cleveland BioLabs, Inc. (CBLI) Lands $45 Million DOD Contract
Cleveland BioLabs, Inc., a drug discovery and development company, announced today that it has received a major DOD contract to develop and stockpile the company’s cell protection drug CBLB502, as a medical radiation countermeasure. The contract, valued at $45 million (including options), calls for the DOD Chemical Biological and Medical Systems (CBMS) Medical Identification and Treatment Systems (MITS) to initiate funding through the point of FDA approval, in the amount of $14.8 million. Upon FDA licensure, the contract provides options for the purchase of $30 million worth of troop doses of CBLB502. The DOD selected CBLB502 under a best value…