Vical Receives $1 Million Payment From Merck & Co., Inc. on Start of Cancer DNA Vaccine Trial
biz.yahoo.com
Tuesday November 8, 7:30 am ET
SAN DIEGO, Nov. 8 /PRNewswire-FirstCall/ -- Vical Incorporated (Nasdaq: VICL - News) announced today the receipt of a $1.0 million milestone payment from Merck & Co., Inc. based on Merck's initiation of a Phase I clinical trial of a DNA cancer vaccine. The vaccine is based on Vical's DNA gene delivery technology and uses plasmid DNA (pDNA) encoding human epidermal growth factor receptor 2 (HER-2) and carcinoembryonic antigen (CEA). The Phase I trial will evaluate the safety, tolerability and immunogenicity of the vaccine.
"Vical's technology platform offers a unique pathway for the development of cancer vaccines," said Vijay B. Samant, Vical's President and Chief Executive Officer, "and we are pleased that Merck has advanced into clinical evaluation of our technology in the cancer area in addition to our existing infectious disease vaccine collaboration."
In June, Merck exercised options on three cancer targets, triggering a $3.0 million payment to Vical. In September, Merck was granted additional cancer vaccine options in exchange for non-exclusive, sublicenseable rights for vaccines against HIV, giving both companies freedom to operate in the field. |
