Ricin rent-seeking (more)

Posted in Bioterrorism, Ricin Kooks, Shoeshine at 8:27 am by George Smith

From a New Jersey business publication, more industry of fear p.r. on Soligenix, a company that has existed on bioterror defense spending for more than a decade, trying to exploit opportunity created by the crazy man:

Soligenix is actively working to develop vaccines for bioterrorism agents such as ricin, but funding the research remains a challenge, according to company president and CEO, Christopher J. Schaber.

“Every biodefense program needs to be sponsored by the government,” said Schaber. “We don’t spend our own money on biodefense. The company could not take off with biodefense unless we secure a large procurement contract from the government, which are typically in the hundreds of millions of dollars …

Soligenix’s share price rose 20 percent this week after the ricin-laced letters to government officials were publicized.

Soligenix would make money if the government stockpiles the vaccine, but the research has to be funded and it has to get FDA approval before the company can procure a government contract.

“We’ve taken this very far with the support of the NIH (National Institutes of Health), but we really need to get a larger contract with more funding to allow us to move forward,” Schaber said. “The government many times doesn’t move that quickly on these things, especially because a lot of people haven’t died.

In over ten years Soligenix has brought nothing to the US market.

Worth 100 mil to the biodefense rent-seeker?

Fun fact: Number of people made even mildly ill in government offices from handling ricin-tainted letters in the last twelve years: Zero.

Soligenix — from the archives.

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