Merger falls through for incubator firm PharmAthene

PharmAthene, the star of the county's homeland security incubator, planned to close a merger deal with publicly traded Siga Technologies by year's end.

The Annapolis biotech firm touted its planned merger with the New York vaccine developer as one that would broaden its biodefense portfolio and put it on the fast track to becoming a public company.

But just seven months after announcing the merger, Siga suddenly pulled the plug. In an Oct. 4 press release, Siga officials said several factors played into the decision, such as the roughly $27 million in grants the company received for its smallpox and anti-viral programs. The...