Life Therapeutics signs US bioterror contract

Sydney-based Life Therapeutics (ASX:LFE) has been awarded a contract worth US$4.7 million (AUD$6.29 million) to supply specialty plasma for the treatment and prevention of smallpox in the general population, and to counter bioterrorism.

"This is an important contract for Life Therapeutics," said Life Therapeutics CEO and managing director Hari Nair in a statement. "Not only is it good for our business and supports our objectives for our Life Sera division, it also provides a way for us to contribute to efforts to protect against the threat of smallpox. This contract further builds Life Sera's bioterrorism business and is the company's first smallpox contract for a non-US market.

John Manusu, Life Therapeutics' chief financial officer said, "We don't believe this will be the last smallpox contract we will be signing and it won't be the last bioterrorism contract we sign -- smallpox is our first bioterrorism hyperimmune and there are others that are in the pipeline."

The contract is being supplied by Life Therpaeutics Life Sera division, which is based in the US and has 13 collection centres.