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Stellar Biotechnologies Announces U.S. $488,985 Award in U.S. IRS Therapeutic Discovery Grants

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Stellar Biotechnologies, Inc. announces that its California subsidiary received news this week that it has been awarded two grants under the Therapeutic Discovery Project Program administered by the U.S. Internal Revenue Service for a total grant award of US $488,985.

The grants are for “Diagnostic Immune Status Monitoring in Patients with Immunodeficiency” and “Enabling ICH-S8 Immunotoxicity Testing with Keyhole Limpet Hemocyanin”. The awards are granted immediately and provide supplemental funding for the Company’s diagnostic development and Stellar KLH/IMG platforms.

Stellar CEO, Frank Oakes said, “These awards demonstrate the significance of the Company’s product development activities, and are important and beneficial to Stellar because they provide funding for our commercial development activities. The funds directly supplement Stellar's use of capital for projects that are expected to directly translate into commercial products and revenues. This will allow the company to accelerate key new hires, including a marketing executive, to support the Company’s new product launch scheduled for 2011."