Tonix Pharmaceuticals Holding Corp (NASDAQ: TNXP) Enters Deal to Purchase an Infectious Disease R&D Facility to Boost its Vaccines and Antiviral Drugs Development Activities

Tonix Pharmaceuticals Holding Corp (NASDAQ: TNXP) entered a Purchase and Sale deal to acquire a research and development (R&D) facility. The facility in question measures 48,000 square foot and will play a crucial role in helping the company develop a viral vaccine expected to stage a strong fight against COVID-19.

Details about the new facility

It will also use this facility in the development of TNX-801, which will target smallpox and monkeypox. The other product will be the TNX-3500, which will help in dealing with the replication of SARS-CoV-2.

The company acquires the facility from Southern Research. Tonix admits that the facility hasn’t yet been approved and transferred. However, it expects that to happen within the fourth quarter of 2021. Southern Research says it will turn to the Birmingham, AL campus to carry out most of its research activities. 

Dr. Lederman’s perspective

The President and Chief Executive Officer of Tonix Seth Lederman considers the Fredrick facility to be a great addition to their R&D capabilities. He believes that the facility will be somewhat helpful in enabling them to grow their pipeline of vaccines and antiviral therapeutics significantly. The leader reveals that they will be making several changes geared towards boosting both the speed and efficiency in developing vaccines and antiviral products. In addition, the company seeks to be at the frontline in combating emerging and novel pathogens.

Dr. Lederman admits that some particular geographic locations seem to have dealt quite well with Covid-19. However, he points out the fast-rising infections in both the vaccinated and the unvaccinated individuals. He cites that the issue arises from the new variants. The leader observes the restrictions and masks mandates in sections of the U.S.

Dr. Lederman opines, “We believe our planned capabilities at the Frederick facility will provide greatly needed domestic resources. The facility is ideally located in Maryland’s ’biotech corridor’, which is rich in highly skilled talent, and is also close to the center of the U.S. biodefense research community.”

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