Velico Medical said yesterday that the U.S. Department of Health & Human Services’ Biomedical Advanced Research and Development Authority extended its contract with Velico to further the development of its spray dried plasma technology.
The federal authority exercised an option to extend the contract through March 2017 and up to an additional $15.5 million, approximately, to fund the development of the spray drying plasma designed for transfusions.
“We believe that BARDA’s approval of the next phase of the contract reflects recognition of Velico’s progress and the life-saving potential of this important technology. Our partnership with BARDA has been collaborative, constructive and has resulted in jointly developed solutions to a number of development challenges. We believe this collaboration has and will continue to deliver significant value for both parties as we advance toward clinical trials,” CEO Bill Skillman said in a press release.
The company is developing the spray dried plasma as an alternative to frozen plasma, produced using a system from Velico that the company said would be used at regional blood centers.
“A dry plasma product is our greatest need right now, from field military operations to supporting emergency care in rural America to advancing the life-saving tool kit of Level I trauma centers,” Oregon Health & Science University’s Dr. Martin A. Schreiber said in prepared remarks.
The ability to produce dried plasma would supply a source for local use and linking to national disaster management channels to support recovery in mass casualty events, the company said.