AVAN to present at the Bill Gates Foundation/Global Health Forum Dec 3-5, Washington DC
WASHINGTON, Nov. 21 /PRNewswire/ -- Today the Biotechnology Industry Organization (BIO) and the Bill & Melinda Gates Foundation announced the participation of 20 biotechnology companies who will present their technologies at the Partnering for Global Health Forum, Dec. 3-5, at the Omni Shoreham Hotel in Washington. The forum will bring together industry leaders, potential funders and international health experts to discuss how biotechnology can be used to find treatments and cures for diseases in the developing world. These diseases include HIV/AIDS, tuberculosis, and malaria.
Each of the presenting biotechnology companies are researching and developing technologies and products to address these neglected diseases. The companies will present developments important to improving global health to an audience comprised of government procurement officials, private foundations, public-private partnership organizations, and investors.
AVAN is active in ongoing discussions with the U.S. government regarding development of vaccines to protect against bioterrorism agents.
The core business of the company is the research, production and commercialization of vaccines for the prevention of diseases and among them of particular note those related to protection of military personnel and civilians against bacterial and viral agents used in biowarfare or terrorist activities. Under the current political environment the demand for such products is definitively poised to get a boost.
CONGRESS RECENTLY approved an 18% increase in military R&D, to $58.8 billion for the current fiscal year � more money, after accounting for inflation, than the Pentagon ever spent on research during the Cold War. Early next year, the National Institutes of Health is in line for a similar-size boost to around $26 billion, partly to examine biological-warfare defenses. In all, the federal government will likely spend about $115 billion on R&D in the year ending Sept. 30, far more than Japan and the 15 European Union governments will spend collectively.
Last Quarter Revenue increased +610% and net loss decreased 95% The company has no debt and enough cash for all 2003.