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Biotech / Medical : Ligand (LGND) Breakout! -- Ignore unavailable to you. Want to Upgrade?

To: Hippieslayer who wrote (14634)	2/11/1998 6:18:00 PM
From: tonyt	Respond to of 32384

Vical Licenses "Naked" DNA Technology To Centocor For Therapeutic Cancer Vaccines ========================================================== SAN DIEGO--(BW HealthWire)--Feb. 11, 1998--Vical Inc. (NASDAQ:VICL) Wednesday announced the signing of an agreement allowing Centocor Inc. (NASDAQ:CNTO) to use Vical's "naked" DNA technology to develop and market gene-based vaccines for the potential treatment of certain types of cancer. The agreement resulted in an initial payment to Vical of $2 million, and may result in further payments plus royalties if Centocor successfully develops products using the Vical technology. The new agreement grants to Centocor exclusive worldwide licenses and options to license Vical's naked DNA technology to deliver certain antigens to induce immune responses against the associated cancer cells. Vical has previously licensed the technology to others for the development of vaccines against specific infectious diseases and for delivery of specific therapeutic proteins. Vical is developing potential cancer treatments independently using its gene delivery technology, including Allovectin-7, Leuvectin, and Vaxid. Alain B. Schreiber, M.D., Vical's president and chief executive officer, said, "We continue to build a licensee base for our proprietary naked DNA platform technology. Centocor's proprietary rights to particular antigens and their expertise in biological products make them an excellent partner for the development of cancer vaccines." Vical is focused on the development of gene-based pharmaceutical product candidates for the prevention or treatment of cancer, infectious diseases and metabolic disorders. A number of therapeutic and vaccine applications are currently under development by Vical and its collaborative partners, including Merck, Pasteur Merieux Connaught, Rhone-Poulenc Rorer and Genzyme. Allovectin-7, which uses a lipid-DNA complex to help the immune system recognize and attack cancer cells, is in Phase II testing in patients with melanoma and head and neck cancer. Leuvectin, which uses a lipid-DNA complex to stimulate an immune response against cancer cells, is in Phase I/II testing in patients with melanoma, kidney cancer, sarcoma, and prostate cancer. Vaxid, a naked DNA vaccine to prevent recurrence of B-cell lymphoma, is in Phase I/II testing. This press release contains forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements, including whether any product candidates will be discovered or, if discovered, whether any will be shown to be safe and efficacious in clinical trials, the timing of clinical trials, whether Vical will receive any additional funds under the agreement with Centocor, and additional risks set forth in the Company's filings with the Securities and Exchange Commission. Actual results may differ materially from those projected. These forward-looking statements represent the Company's judgment as of the date of this release. The Company disclaims, however, any intent or obligation to update these forward-looking statements. CONTACT: Vical Inc. Alan R. Engbring, 619/646-1127 KEYWORD: CALIFORNIA INDUSTRY KEYWORD: BIOTECHNOLOGY PHARMACEUTICAL Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com Copyright 1998, Business Wire