SAN CARLOS, CA, Cellerant Therapeutics Inc., a biotechnology company developing novel hematopoietic stem cell-based cellular and antibody therapies for blood disorders and cancer, announced today that it has been awarded additional funding valued at $16.7 million by the Biomedical Advanced Research and Development Authority (BARDA) in the Office of the Assistant Secretary for Preparedness and Response of the Department of Health and Human Services, for the advanced development of CLT-008, a first-in-class, allogeneic, cell-based therapy for the treatment of Acute Radiation Syndrome (ARS).

This funding is in addition to the existing contract valued at up to $153.2 million previously awarded on September 1, 2010. Under terms of this revised contract, Cellerant will receive up to $80 million in the two year base period of performance and up to an additional $89.9 million in three option years, if exercised by BARDA, bringing the total value of the contract to $169.9 million.

"We are pleased at BARDA's ongoing commitment to further support our biodefense efforts in developing CLT-008 as an effective nuclear countermeasure"

This supplemental funding will support Cellerant's CLT-008 development strategy by providing additional funds to expand its current clinical trials, process development and manufacturing activities and to fund additional nonclinical studies required for approval in ARS. If licensed by the U.S. Food and Drug Administration (FDA), the federal government could buy CLT-008 for the Strategic National Stockpile under Project Bioshield. Project Bioshield is designed to accelerate the research, development, purchase and availability of effective medical countermeasures for the Strategic National Stockpile.

"We are pleased at BARDA's ongoing commitment to further support our biodefense efforts in developing CLT-008 as an effective nuclear countermeasure," said Ram Mandalam, Ph.D., President and Chief Executive Officer of Cellerant Therapeutics. "We continue to make significant progress and the supplemental funding provides additional resources to advance CLT-008 closer to approval for therapeutic use."

With the supplemental funding, Cellerant will expand its ongoing clinical trials by activating additional sites and accelerating its clinical development efforts. Cellerant's first Phase I study is evaluating CLT-008 in patients undergoing cord blood transplants for the treatment of hematological malignancies. CLT-008 is intended to rapidly produce neutrophils and platelets in vivo and facilitate long-term engraftment in patients undergoing bone marrow or cord blood transplantation. Cellerant's second Phase I/II study is evaluating CLT-008 in acute leukemia patients with chemotherapy-induced neutropenia. CLT-008 may shorten the time to neutrophil recovery and decrease the risks of febrile neutropenia and infection.

In ARS applications, CLT-008 is intended to provide hematopoietic cellular support after exposure to ionizing radiation such as from a nuclear or radiological weapon, or from a nuclear accident. Various preclinical studies conducted to date suggest that a single dose of CLT-008 could provide effective treatment for ARS in an emergency situation, and can be administered up to five days post-exposure to radiation. CLT-008 is being developed under the U.S. Food and Drug Administration's Animal Efficacy Rule for ARS. This approval pathway requires demonstration of efficacy in representative animal models and safety and metabolism testing in human clinical trials. There is currently no FDA approved medical countermeasure to treat ARS.

About CLT-008

CLT-008 is a unique, off-the-shelf, cryopreserved, cell-based therapy that contains human Myeloid Progenitor Cells derived from adult hematopoietic stem cells that have the ability to mature into functional granulocytes, platelets and red blood cells in vivo. In preclinical models, CLT-008 has been shown to be highly effective in providing protection from lethal radiation, preventing infection, facilitating stem cell engraftment and improving overall survival with a high degree of efficacy. Cellerant is developing CLT-008 as an effective treatment for chemotherapy-induced neutropenia, protection following exposure to acute radiation, and facilitating engraftment of cord blood transplantation.

About Cellerant Therapeutics

Cellerant Therapeutics is a clinical stage biotechnology company focused on the regulation of the hematopoietic (blood-forming) system. The Company is developing human stem cell and antibody therapies for oncology applications and blood-related disorders. Cellerant's lead product, CLT-008, is currently in two Phase 1 clinical trials in patients with hematological malignancies. The Company also has a cancer stem cell (CSC) antibody discovery program focused on therapies for acute myelogenous leukemia, multiple myeloma and myelodysplastic syndrome.