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VGX Pharmaceuticals
Announces an R&D and License Agreement with
VGX International to Develop Gastric Cancer Therapeutics
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Bell, PA – June 20, 2007 – |
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VGX Pharmaceuticals announced today that the Company
has granted VGX International, its Affiliate based in Seoul, Korea, a
worldwide exclusive license to conduct research, development and marketing
of VGX-100 for gastric cancer. Under the terms of this agreement, VGX
Pharmaceuticals and VGX International will collaborate on pre-clinical
as well as other phases of clinical trials for the development of VGX-100
for the gastric cancer indication. VGX Pharmaceuticals will receive milestone
payments and royalties on the future sale of this product worldwide and
has retained an option to develop VGX-100 in the US and Europe.
VGX Pharmaceuticals has developed technology using specific viral proteins
that can induce selective apoptosis (programmed cell death) in rapidly
dividing cancer cells, leaving normal cells unharmed. VGX-100, a recombinant
viral protein r (Vpr), induces tumor cell death through apoptosis in number
of human-derived tumor tissues including stomach, breast, prostate and
brain.
Earlier this year, VGX has announced that VGX-100 will be manufactured
using the Dowpharma’s Pf_nex Expression Technology™, a Pseudomonas-based
technology. In addition, the scale-up development and clinical trial material
manufacturing will be conducted by Diosynth Biotechnology, an Akzo Nobel
Company.
“VGX-100 has been one of the most exciting product candidates in
our preclinical development portfolio. Patients who are afflicted with
gastric or stomach cancer currently have very little available treatment
options,” says J. Joseph Kim, Ph.D., President and CEO of VGX Pharmaceuticals.
“It is our goal to accelerate the development of VGX-100 by a close
collaboration with VGX International.”
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, VGX
is planning to initiate Phase I clinical studies for VGX-1027, its lead
compound 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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