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| VGX
Pharmaceuticals Announces DNA Vaccines License Agreement
with University of Pennsylvania
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| Blue
Bell, PA – April 24, 2007 – |
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VGX Pharmaceuticals Inc. (VGX) announced today that
it has signed a license agreement with the University of Pennsylvania
covering novel DNA Vaccines and Therapeutics. Under the terms of the agreement
VGX will have exclusive worldwide rights to develop a number of DNA plasmids
and constructs with potential for the treatment and/or prevention of HIV,
HCV, HPV and Influenza. This new agreement broadens the existing relationship
between the two organizations. VGX was founded as a start-up in 2000 based
on technology licensed from the University of Pennsylvania. VGX has previously
licensed a number of product candidates and technology from the University
of Pennsylvania and currently sponsors clinical research and basic research
projects at the University.
The underlying technology was developed in the laboratory of Dr. David
B. Weiner, Professor of Pathology and Laboratory Medicine at the University
of Pennsylvania. Professor Weiner is a pioneer in the field of DNA vaccines
and a VGX co-founder. Dr. Weiner’s laboratory has developed consensus
sequences and antigens for key HIV, HCV, HPV, and Influenza proteins that
offer coverage across different viral sub-types or taxonomic groups. Pre-clinical
studies have shown that immunization of mice and non-human primates using
the consensus DNA constructs for each virus elicits an immune response
against multiple sub-types of the HIV, HCV, HPV, or Influenza viruses
respectively.
“We are pleased to have access to this exciting technology as this
significantly expands our development pipeline of a new generation of
DNA-based therapies and vaccines for use in humans,” said Dr. J.
Joseph Kim, President and CEO of VGX. “The new DNA vaccines, especially
those targeting HIV and HCV, will strengthen and complement our infectious
diseases programs, with PICTOVIR™ and VGX-410C programs currently
in Phase II clinical trials in the US. Moreover, our recent acquisition
of ADViSYS, Inc. provides VGX access to a proprietary DNA delivery technology
and cGMP plasmid manufacturing capabilities. These new activities ensure
that VGX will continue to be a global technology leader in this important
field. We plan to move these exciting programs into clinical evaluation
as soon as possible.”
DNA-based vaccines and therapeutics deliver the immunogen or the therapeutic
protein in the form of plasmid DNA encoding the protein of interest. The
body then produces the protein of interest and elicits an immune response.
Vaccination with DNA has multiple potential advantages over the present
technology used for vaccination against a variety of infectious diseases.
DNA vaccines are easier to manufacture, can be stored at room temperature
and have the potential to more easily combine multiple antigens in one
injection that would provide protection against multiple diseases or multiple
targets from the same organism.
Cautionary
Factors That May Affect Future Results - Materials in this
Web site contain information that includes or is based upon forward-looking
statements within the meaning of the Securities Litigation Reform
Act of 1995. Forward-looking statements relate to expectations or
forecasts of future events. You can identify these statements by the
fact that they do not relate strictly to historical or current facts.
They use words such as "anticipate," "estimate,"
"expect," "project," "intend," "plan,"
"believe," and other words and terms of similar meaning
in connection with a discussion of potential future events, circumstances
or future operating or financial performance. In particular, these
include statements relating to future actions, prospective products
or product approvals, future performance or results of current and
anticipated products, sales efforts, expenses, the outcome of contingencies
such as legal proceedings, and financial results. Any or all of our
forward-looking statements here or in other publications may turn
out to be wrong. They can be affected by inaccurate assumptions or
by known or unknown risks and uncertainties. Many such factors will
be important in determining our actual future results. Consequently,
no forward-looking statement can be guaranteed, and forward-looking
statements may be adversely affected by factors, including general
market conditions, competitive product development, product availability,
current and future branded and generic competition, federal and state
regulations and legislation, manufacturing issues, timing of the elimination
of trade buying, patent positions, litigations and investigations.
Our actual results may vary materially, and there are no guarantees
about the performance or valuation of VGX stock. It is also important
to read the disclosure notice contained in many of the individual
VGX documents available on this Web site as many contain important
information on such cautionary factors as of the date of the individual
document. We undertake no obligation to correct or update any forward-looking
statements, whether as a result of new information, future events
or otherwise. You are advised, however, to consult any further disclosures
we make on related subjects in our reports. |
About VGX
Pharmaceuticals
VGX Pharmaceuticals is a biopharmaceutical company with small molecules
and biologics product candidates for the treatment of infectious diseases,
cancer and inflammatory diseases. The Company’s clinical development
programs include PICTOVIR™ for HIV infection and VGX-410C for chronic
HCV infection, both of which are currently in Phase II clinical trials.
In addition, Phase I clinical trials will be initiated in 2007 for VGX-150
for the treatment of Melanoma and VGX-1027 for inflammatory diseases. VGX’s
research pipelines include new generation of DNA vaccines and therapeutics
as well as CELLECTRA™, a proprietary DNA delivery device. The product
candidates and technology programs are protected by the Company’s
extensive global intellectual property portfolio. More information about
VGX can be found at www.vgxp.com.
Company Contact:
Kevin W. Rassas
Senior Vice President
Tel. 267.440.4208
Fax 267.440.4242
E-mail: Rassas@vgxp.com
www.vgxp.com
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