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Cleveland BioLabs (CBLI), BARDA Conclude Advanced CBLB502 Funding Talks

May 31, 2011 8:19 AM EDT
Cleveland BioLabs, Inc. (Nasdaq: CBLI) and the Biomedical Advanced Research and Development Authority of the Department of Health and Human Services (BARDA) have recently concluded advanced stages of contract negotiations for funding of certain CBLB502 development activities included in the Company's 2010 Proposal to BARDA.

Further talks will depend on clarification of the development path for CBLB502 with the U.S. Food and Drug Administration. BARDA has indicated that the Company may resubmit an updated proposal upon confirmation from the FDA there are no objections to the Company proceeding with its development plan as a result of this review.


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