Cleveland BioLabs, Inc.
CBLI today announced that its wholly-owned Russian subsidiary, BioLab
612, LLC, has entered into a three-year contract valued at 149 million rubles,
or approximately $4.6 million, with the Ministry of Industry and Trade of the
Russian Federation for clinical development of Entolimod (CBLB502). The
contract funds will be used to support the clinical safety and efficacy
assessment of Entolimod in colorectal cancer. The contract requires that the
contractor, BioLab 612, attract matching funds to the project. It is
anticipated that this requirement will be primarily satisfied through the
contribution by CBLI of certain patents issued by the Eurasian Patent
Organization to BioLab 612.
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