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| VGX
Pharmaceuticals Announces the Initiation of IND-enabling Toxicology
Studies for VGX-1027
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| Blue
Bell, PA – October 27, 2006 – |
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VGX Pharmaceuticals announced today that the Company
has initiated a series of IND-enabling toxicology studies on VGX-1027,
the company’s lead drug candidate for the treatment of rheumatoid
arthritis (RA) and type 1 diabetes (T1D). VGX-1027 is a novel orally-active,
small-molecule compound with broad anti-inflammatory properties.
Inflammatory diseases including RA, psoriasis, colitis, and T1D represent
major medical problems. For instance, in the U.S. over 2.7 Million and
1 Million people suffer from rheumatoid arthritis and type 1 diabetes,
respectively.
VGX-1027 is an immune modulator that inhibits production of several pro-inflammatory
cytokines that are responsible for the damaging effects of inflammatory
diseases. Pre-clinical studies have shown that VGX-1027 is effective in
inhibiting these cytokines in cell culture, and has shown efficacy in
several disease models in animals, including the ones for RA, T1D, psoriasis,
and colitis
There are several blockbuster therapeutic agents on the market today which
target the RA indication, including Enbrel® (Amgen, 2005 WW Sales
$2.6 Billion), Remicade® (J&J, $2.5 Billion), and Humira®
(Abbott, $1.4 Billion). However, these products must all be injected into
the muscle or the skin of the patients. VGX-1027 offers a distinct advantage
over the competitions in that it can be taken as a once-a-day pill.
“The VGX-1027 program represents VGX‘s entry into the important
inflammatory disease field with a lead drug candidate having several potential
advantages over currently available treatment options,” says J.
Joseph Kim, Ph.D., President and CEO of VGX Pharmaceuticals.
An Investigational New Drug Application (IND) for VGX-1027 is expected
to be filed and Phase I clinical trials are expected to be initiated in
the second quarter of 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 leading biopharmaceutical company with strong product
candidates for the treatment of infectious diseases including HIV and hepatitis
C virus (HCV) as well as cancer and inflammatory diseases. The Company’s
clinical development programs include PICTOVIR™ for HIV infection
and VGX-410C for chronic HCV infection, which are currently in Phase II
clinical trials. In addition, a Phase I clinical trial will be initiated
in 2007 for the Company’s lead cancer drug compound, VGX-150 for the
treatment of Melanoma. Moreover, VGX Pharmaceuticals’ therapeutic
platform is designed to advance a strong and continual pipeline of additional
drug candidates into the clinic with VGX-100 for cancer therapy and VGX-1027
and VGX-750 for inflammatory diseases currently in development. 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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