>>GAITHERSBURG, Md., Jan. 6 /PRNewswire-FirstCall/ -- GenVec, Inc. (Nasdaq: GNVC - News), a biopharmaceutical company, announced today an additional expansion of its multi-year subcontract with the Vaccine Research Center (VRC) at the National Institute of Allergy and Infectious Diseases (NIAID) of the National Institutes of Health (NIH). The latest expansion of the subcontract, issued and managed by SAIC-Frederick, Inc. (SAIC-Frederick), increases the total potential funding from approximately $16 million to approximately $28 million. Under the expansion, GenVec will manufacture the HIV vaccine candidate, based on its proprietary adenovector technology, to support late- stage clinical development using optimized and scaleable processes for vaccine production. GenVec intends to utilize the manufacturing capability, staff and expertise of its recently acquired Charlestown facility to support these activities.
Robert S. Tenerowicz, GenVec's Vice President Process Development and Clinical Supplies commented on the expansion of the subcontract, "We are pleased that the VRC/NIAID/NIH and SAIC-Frederick, Inc. have put their confidence in GenVec to produce HIV vaccine clinical materials to support late-stage trials for such an important worldwide health problem." Mr. Tenerowicz continued, "Expansion of the subcontract will allow us to leverage the resources of our Charlestown site and establish the manufacturing and quality infrastructure to support all of GenVec's product programs."
The subcontract expansion includes the use of GenVec's advanced scaleable production process and comprehensive panel of characterization methods designed to support product commercialization, and therefore, has the potential to positively impact the planned production activities for TNFerade, GenVec's lead oncology product candidate.
GenVec is a publicly held biopharmaceutical company focused on the development and commercialization of novel therapies that improve patient care in the areas of cancer, vision loss, and cardiac disease. GenVec is also developing vaccines for HIV, SARS, malaria and dengue virus. Additional information on GenVec is available at www.genvec.com and in the company's various filings with the Securities and Exchange Commission.<<
snip
Cheers, Tuck |
