GenVec Enters Into $3.5 Million Contract With Naval Medical Research Center To
Advance Malaria Program
GAITHERSBURG, Md., Oct. 2, 2012 /PRNewswire via COMTEX/ -- GenVec, Inc. (GNVC)
announced today that it has signed an agreement worth approximately $3.5 million
with the Naval Medical Research Center (NMRC) to support malaria vaccine
development.
Under the terms of the agreement, GenVec is responsible for producing clinical
supplies of its malaria vaccine, which utilizes its novel, proprietary
technology. NMRC plans to use this clinical material to assess the safety and
efficacy of these next-generation vectored vaccines using the clinical challenge
model developed by NMRC and the Walter Reed Army Institute of Research (WRAIR)
malaria vaccine programs, which now are unified as the US Military Malaria
Vaccine Program (USMMVP). GenVec retains the right to commercialize this novel
technology. GenVec's malaria vaccine candidate utilizes a novel, proprietary
adenovector delivery system that is capable of generating strong immune responses
while avoiding the problems of vector-specific immunity that has hampered other
vectored vaccines.
In April 2010, encouraging clinical data were presented from a Phase 1 malaria
vaccine trial conducted by NMRC and WRAIR using GenVec adenovector technology
coupled with DNA plasmid priming. Data indicate this DNA/adenovector malaria
vaccine given to malaria-naive adults was safe and well-tolerated with minimal
local or systemic reactions and no serious vaccine-related adverse reactions.
Sterile protection, a complete absence of parasites in the blood, was seen in 4
out of 15 volunteers that had been inoculated with the vaccine and subsequently
challenged with the malaria parasite.
"We appreciate the US military's continued commitment to the worldwide problem of
malaria and its support of malaria vaccine development," said Dr. Joseph Bruder,
Director of Research and head of GenVec's malaria program. "Work under this
agreement will build upon the encouraging clinical results previously
demonstrated in malaria with our vaccines."
About Malaria
Malaria is one of the world's most widespread and burdensome infectious diseases.
This life-threatening parasitic infection is transmitted to humans through the
bite of an infected mosquito. Malaria parasites initially invade liver cells and,
after multiplying, release tens of thousands of new parasites, which invade red
blood cells, multiply again, and then destroy these cells. High fever, headache,
and shaking chills appear approximately nine to fourteen days after the
infectious bite. If untreated, the infection can progress rapidly and become life
threatening--destroying red blood cells, causing severe anemia, and blocking
capillaries that nourish the brain and other vital organs, resulting in
multisystem failure, coma and death. Malaria causes approximately 243 million
acute illnesses and 863,000 deaths annually, mostly among children under the age
of five. Malaria is a major health risk for travelers and the military.
About GenVec
GenVec is a biopharmaceutical company using differentiated, proprietary
technologies to create superior therapeutics and vaccines. A key component of our
strategy is to develop and commercialize our product candidates through
collaborations. GenVec is working with leading companies and organizations such
as Novartis, Merial, and the U.S. Government to support a portfolio of product
programs that address the prevention and treatment of a number of significant
human and animal health concerns. GenVec's development programs address
therapeutic areas such as hearing loss and balance disorders; as well as vaccines
against infectious diseases including respiratory syncytial virus (RSV), herpes
simplex virus (HSV), dengue fever, malaria, and human immunodeficiency virus
(HIV). In the area of animal health we are developing vaccines against
foot-and-mouth disease (FMD). Additional information about GenVec is available at
genvec.com and in the Company's various filings with the Securities
and Exchange Commission.
Statements herein relating to future financial or business performance,
conditions or strategies and other financial and business matters, including
expectations regarding funding, grants, collaborations, revenues, cash burn
rates, the development of products and the success of the Company's
collaborations, including with Novartis and Merial, are forward-looking
statements within the meaning of the Private Securities Litigation Reform Act.
GenVec cautions that these forward-looking statements are subject to numerous
assumptions, risks and uncertainties, which change over time. Factors that may
cause actual results to differ materially from the results discussed in the
forward-looking statements or historical experience include risks and
uncertainties, including the failure by GenVec to secure and maintain
relationships with collaborators; risks relating to the early stage of GenVec's
product candidates under development; uncertainties relating to research and
development activities; risks relating to the commercialization, if any, of
GenVec's proposed product candidates; dependence on the efforts of collaborators
and third parties; dependence on intellectual property; currently unanticipated
expenses, and risks that we may lack the financial resources and access to
capital to fund our operations. Further information on the factors and risks that
could affect GenVec's business, financial conditions and results of operations,
are contained in GenVec's filings with the U.S. Securities and Exchange
Commission (SEC), which are available at sec.gov. These
forward-looking statements speak only as of the date of this press release, and
GenVec assumes no duty to update forward-looking statements.
Retail Investor and Media Contact: Institutional Investor Contact:
GenVec, Inc.S.A. Noonan Communications
Douglas J. SwirskySusan A. Noonan
(240) 632-5510(212) 966-3650
dswirsky@genvec.comsusan@sanoonan.com |
