Theraclone Sciences has received notification from the Biomedical Advanced Research and Development Authority (BARDA) informing the company that their proposal, 'Broad-spectrum anti-influenza A M2e fully human monoclonal antibody TCN-032: Determination of efficacy in serious influenza disease,' was not selected for funding under the current proposal.

Theraclone submitted the proposal on 29 August 2013, to apply for government funding to advance development of TCN-032 into Phase II clinical development for serious influenza disease, including pandemic flu.

Theraclone Sciences CEO Clifford Stocks noted the company is disappointed that it did not received BARDA funding at this time, the company remains encouraged by the potential of TCN-032 for two current indications - to help combat pandemic flu as well as the commercial potential to treat patients who are hospitalized with serious influenza infections given the novel mechanism, mutation resistance and extended therapeutic window of our antibody to flu.

"Importantly, we have already partnered TCN-032 in Japan, and we continue to evaluate opportunities to advance TCN-032 with other potential strategic partners for commercial markets. We have requested a meeting with BARDA to seek further input regarding our submission and how best to prepare a future funding request," Stocks added.