Aeolus Awarded Contract Fully Valued at $118 Million from BARDA

Aeolus Pharmaceuticals, Inc. (AOLS) today announced that the Biomedical Advanced Research and Development Authority (BARDA), part of the Department of Health and Human Services (HHS), has awarded Aeolus a contract for the advanced development of AEOL 10150 as a medical countermeasure (MCM) against the pulmonary sub-syndrome of acute radiation syndrome (ARS). Under terms of this cost plus, fixed fee development contract, Aeolus will receive $10.4 million in the first year base period of performance and up to an additional $107.5 million in options , if exercised by BARDA, for a total contract value of up to $118 million. In addition to fully covering the cost of development of AEOL 10150 as an MCM for Lung ARS, the Company believes that the contract with BARDA will substantially cover all of the costs associated with the preclinical, chemistry, manufacturing, and controls (CMC) and toxicology necessary for the oncology indications, plus a large safety study in humans.