BARDA executes option on thermal burn therapy development

The U.S. Department of Health and Human Services' Biomedical Advanced Research and Development Authority (BARDA) executes its option to continue funding the investigation and development of Cytori Therapeutics' (CYTX +0.6%) cell therapy for the treatment of thermal burn injury.

Upon IDE approval by the FDA, BARDA's funding will be ~$8.3M which will pay for the remaining R&D that will enable a pilot clinical trial. It will also fund ~two years of preclinical studies in other burn-related areas.

The contract retains two additional options to fund a pivotal clinical trial ($45M) and work in thermal burn complicated by radiation exposure ($23M).

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