ITMN started a PIII for Actimmune in ovarian cancer, which is supporting the stock. And GNVC seemed headed for the 2s, all right, but this may stop the slide:
>>GAITHERSBURG, Md., Feb. 5 /PRNewswire-FirstCall/ -- GenVec, Inc. (Nasdaq: GNVC - news) announced today that it has signed a contract with the Vaccine Research Center at the National Institute of Allergy and Infectious Diseases (NIAID) of the National Institutes of Health (NIH) under which GenVec will use its proprietary adenovector technology for the development and manufacture of clinical grade preventative AIDS vaccine candidates. The contract, which extends a previous Letter Contract, has a life of up to three years and a potential value of $10.2 million.
Under the contract, GenVec is tasked with developing and manufacturing adenovector-based preventative AIDS vaccine candidates using its proprietary cell line and adenovector technology. GenVec will also work on developing an advanced, scaleable vaccine production process using manufacturing technologies developed at GenVec and designed to support product commercialization. GenVec has been working on the HIV vaccine project since January 10th, 2002 under the previously announced Letter Contract.
``GenVec was selected from a nationwide solicitation because of its leadership in adenovector technology. We are pleased to extend its use to new applications such as an AIDS vaccine. This alliance provides potential new product opportunities for GenVec and allows us to collaborate with leading researchers in an important new area of medicine,'' stated Dr. Paul H. Fischer, GenVec's President and Chief Executive Officer.
Preclinical studies have suggested that using replication-deficient adenoviral vectors, such as those developed by GenVec, in a carefully crafted vaccine strategy can elicit potent and protective B-cell and T-cell immune responses that may control HIV-1 and other viral infections. The goal is to teach the body's immune system to recognize the HIV virus as an intruder so it can be eradicated and blocked from spreading throughout the body.
``Our adenovectors efficiently express the desired proteins within the human body, and have been safely administered to hundreds of people in our clinical trials in cardiovascular disease and cancer,'' stated Dr. Henrik Rasmussen, GenVec's Senior Vice President of Clinical Research and Regulatory Affairs. Dr. Rasmussen continued, ``Because vaccines are designed to be administered to healthy people, the safety of the product is a key consideration. A safe, efficient gene delivery system could have extensive applications across a variety of human diseases and helps reduce hurdles in the development of gene-based drugs and vaccines.''
The Contract was issued and will be managed on behalf of NIAID's Vaccine Research Center by SAIC Frederick, Inc. under the umbrella of a federally funded prime contract with NIH.
In addition to the Contract announced today, GenVec has had a Cooperative Research and Development Agreement, or CRADA, with NIAID in place since October 2001. The CRADA with NIAID governs a preclinical collaboration to evaluate and develop adenoviral vectors expressing modified HIV-1 genes. Each newly created adenovector will then be evaluated for potential application as an HIV preventative or therapeutic vaccine. This preclinical research project may lead to future opportunities for GenVec in the areas of technology transfer from the vaccine manufacturing and pre-commercialization manufacturing fields. The CRADA includes built-in options to license new technology developed under the preclinical research project, but does not include funding for GenVec.<<
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Cheers, Tuck |
