|
|
VGX
Pharmaceuticals Announces Formation of Animal Health Company
|
| Blue
Bell, PA – May 31, 2007 – |
|
VGX Pharmaceuticals Inc. (“VGX”) announced
today that it has formed a wholly owned subsidiary, VGX Animal Health,
Inc. (“VGX AH”). The newly established company will include
the animal health intellectual property and technology that came to VGX
as a result of its acquisition of ADViSYS in February of this year. Additionally,
VGX AH will have access to VGX’s adaptive electroporation device,
Cellectra™ for all animal health applications.
The VGX AH pipeline includes proprietary Growth Hormone Releasing Hormone
(“GHRH”) plasmid technology for major food and companion animals.
The company’s lead product, Life Tide SW5™ a GHRH porcine
product, is currently in registration in Australia. Also in Phase II of
development are canine GHRH products for renal failure and cancer related
cachexia and anemia. VGX AH has multiple product candidates in Phase I,
including indications for equine laminitis and arthritis.
VGX AH will be seeking alliance partners to help in its development and
commercialization efforts in major markets throughout the world.
Dr. J. Joseph Kim, President and CEO of VGX Pharmaceuticals, commented,
“The formation of VGX AH will allow us to maximize the commercial
potential of this important portfolio of animal health technologies, while
at the same time allowing us to maintain focus on the continued development
and expansion of our core human health biopharmaceutical business opportunities.”
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
|
