Nov. 10, 2010, 8:00 a.m. EST Hemispherx Biopharma Receives Therapeutic Discovery Project Grant From U.S. Department of Treasury Covers Therapeutic Applications of Two Technology Platforms PHILADELPHIA, Nov 10, 2010 (GlobeNewswire via COMTEX) -- Hemispherx Biopharma, Inc. /quotes/comstock/14*!heb/quotes/nls/heb (HEB 0.50, -.00, -0.44%) announced today grant awards totaling $488,958 from the U.S. Department of Treasury in support of its Ampligen(R) and Alferon(R) development programs. These awards were approved by the Internal Revenue Service (IRS), in conjunction with the Department of Heath and Human Services (DHHS), under the Qualifying Therapeutic Discovery Project Program, established under the Patient Protection and Affordable Care Act of 2010 for projects that showed significant potential to produce new and cost-saving therapies, support jobs and increase U.S. competitiveness. The amounts granted for these two Hemispherx projects were for the maximum per-project amount set by the IRS based on the limited amount of funds allocated for the program. The Hemispherx Alferon(R) program grant application was based on the potential to show Alferon N Injection(R), an FDA-approved treatment for refractory HPV, and Alferon(R) LDO (low dose oral), an experimental formulation, to be an efficacious and inexpensive preventative or treatment for seasonal and pandemic flu. The Hemispherx Ampligen(R) grant application was based on the continuing development of Ampligen(R) (an experimental therapeutic with broad spectrum antiviral properties) in clinical programs in Chronic Fatigue Syndrome, (CFS) and as an adjuvant for seasonal / pandemic influenza vaccines and cancer immunotherapy.