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VGX Pharmaceuticals
Receives $1.9 Million Contract from U.S. Government
to Develop Skin Micro-Electroporation for Improved Biodefense Vaccine
Efficacy
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Bell, PA – September 10, 2007 – |
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VGX Pharmaceuticals announced today that it has been
awarded a contract from the Defense Threat Reduction Agency (DTRA) to
develop VGX’s constant current electroporation technology for intradermal
(ID) delivery of DNA vaccines and therapeutics. The contract is for $1.9
Million over 12 months. Under the contract, VGX will demonstrate in vivo
efficacy of novel vaccines derived from DNA plasmid-based pox virus antigens
delivered using a skin micro-electroporation system.
The development of candidate countermeasures to chemical and biological
warfare agents represents a major thrust of the US Government’s
Chemical and Biological Defense Initiative. Smallpox is classified as
a CDC category A pathogen. Although this highly contagious and often fatal
virus was eradicated in 1979, it affected almost 1 billion people since
the late 19th century and has a high biothreat potential today.
"This contract demonstrates the U.S. government’s support of
in vivo electroporation for the delivery of DNA vaccines as a defense
against bioterrorism, and further encourages the development of the skin
micro-electroporation platform for our pipeline," stated Dr. J. Joseph
Kim, President and CEO of VGX. “We are excited to be awarded this
contract to further validate the skin-delivery system for immunogenicity
and efficacy in a pathogen of particular interest to the DTRA and set
the platform for delivery of other vaccines in the biodefense program.”
VGX is developing the CELLECTRA™ electroporation device to deliver
a number of DNA vaccine and therapeutic candidates for both ID and intramuscular
(IM) routes. The device is portable, water-proof, shock-proof, battery
operated, and software driven, making it particularly suited for usage
in the field. Delivery of vaccines via the CELLECTRA™ skin micro-electroporation
system may have several potential advantages such as lower dosage and
higher tolerability.
VGX has established a dynamic vertically-integrated product development
platform encompassing novel DNA vaccine constructs, proprietary electroporation
technology for DNA delivery, and an efficient process for the cGMP manufacturing
of DNA plasmids. VGX is currently developing a portfolio of DNA based
vaccines covering HIV, HPV and influenza as well as DNA therapies for
cancer-related cachexia based on growth hormone releasing hormone (GHRH).
These potential products are anticipated to be developed for human applications
in combination with the CELLECTRA™ electroporation device. VGX has
initiated the formal IND-enabling toxicology studies for its HPV, influenza,
and GHRH product candidates in Q3 2007.
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 molecule and
biologic 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 pipeline include a new
generation of DNA vaccines and therapeutics as well as CELLECTRA™,
a patented 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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