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Biotech / Medical : GENVEC files S-1

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To: tuck who wrote (6)12/19/2006 8:16:21 AM
From: nigel bates  Read Replies (1) of 30
 
GenVec Announces Efficacy Update in Phase II/III Clinical Trial of TNFerade(TM) in Locally Advanced Pancreatic Cancer
Tuesday December 19, 7:30 am ET
Interim Survival Analysis Exceeds Expectations

GAITHERSBURG, Md.--(BUSINESS WIRE)--GenVec, Inc. (Nasdaq: GNVC - News) announced today the initial interim efficacy analysis of survival data from its ongoing Phase II/III Pancreas Cancer Clinical Trial with TNFerade(TM) (PACT) in patients with locally advanced pancreatic cancer. The analysis was conducted as an initial component of a planned interim review of trial data by an independent data safety monitoring board (DMSB).

Kaplan-Meier analysis of overall survival data, based on available results for the first 51 patients enrolled in the study, some followed for as long as 18 months, showed a 42.5% absolute increase in overall survival with the addition of TNFerade to standard of care (SOC). At one year, survival was 70.5% in the TNFerade + SOC arm, versus 28.0% in the SOC arm. Significance was at the 75% confidence interval level, and was based on 5 deaths out of 33 TNFerade patients and 7 deaths out of 18 SOC patients.

"While the interim data is early, we are encouraged by the positive statistical trend, which suggests that the potential survival benefit of TNFerade ultimately may exceed the endpoint of the PACT study for a 20% improvement in overall survival," said Mark Thornton, M.D., Ph.D., senior vice-president of product development. "The magnitude of the survival benefit demonstrated by TNFerade to date may allow GenVec to implement modifications to the study that, assuming this trend continues, could potentially accelerate its conclusion and allow an earlier review by FDA than previously anticipated."

"A successful product is built on high medical need, good safety and improved effectiveness. There can be no argument that the need in pancreatic cancer is extraordinary. Our recently announced safety results were very encouraging, and now today's results suggest potent activity," stated Paul H. Fischer, Ph.D., GenVec's president and CEO. "Needless to say, we are very excited about the prospects of TNFerade, and we look forward to continued momentum in 2007," added Dr. Fischer.

About PACT

GenVec's PACT trial is a multi-center, randomized, active and controlled study targeted to enroll 330 patients, designed to evaluate the safety and efficacy of TNFerade plus standard of care (SOC) versus standard of care alone in patients with locally advanced pancreatic cancer.

About TNFerade(TM)

TNFerade is an adenovector, or DNA carrier, which contains the gene for tumor necrosis factor-alpha (TNF-alpha), an immune system protein with potent and well-documented anti-cancer effects, for direct injection into tumors. After administration, TNFerade stimulates the production of TNF-alpha in the tumor. GenVec is developing TNFerade for use in combination with radiation and/or chemotherapy for the treatment of various cancers.

About GenVec

GenVec, Inc. is a biopharmaceutical company developing novel gene-based therapeutic drugs and vaccines. Additional information about GenVec and its portfolio of product candidates is available at www.genvec.com and in the company's various filings with the Securities and Exchange Commission.
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