DNA Vaccine Developer Inovio Biomedical Changes Name to Inovio Pharmaceuticals

BLUE BELL, Pa.--(BUSINESS WIRE)-- Inovio Biomedical Corporation (NYSE Amex: INO), a leader in the development of new preventive and therapeutic vaccines against cancers and infectious diseases, announced today that it has changed its corporate name to Inovio Pharmaceuticals, Inc. by filing a Certificate of Amendment to its Certificate of Incorporation with the Secretary of State of the State of Delaware on May 14, 2010. Inovio’s trading symbol remains the same.

“In the last year Inovio has made great strides in advancing its DNA vaccines for influenza, HIV and cancer and its proprietary vaccine delivery technology. The new name better reflects the company’s product development leadership in unlocking the promise of DNA vaccines,” said Dr. J. Joseph Kim, President & CEO.

The CUSIP number for the company's common stock remains the same. Holders of stock certificates bearing the name "Inovio Biomedical Corporation" may continue to hold them and will not be required to exchange them for new certificates or take any other action.

About Inovio Pharmaceuticals, Inc.

Inovio Pharmaceuticals is focused on the development of a new generation of vaccines, called DNA vaccines, to prevent and treat cancers and infectious diseases. The company’s SynCon™ “universal” vaccines are designed to provide broad cross-strain protection against known as well as newly emergent strains of pathogens such as influenza. Inovio’s proprietary electroporation delivery technology has been shown by initial human data to be safe and significantly increase gene expression and immune responses. Inovio’s clinical programs include HPV/cervical cancer (therapeutic), avian flu, and HIV vaccines. Inovio is developing its universal influenza vaccines in collaboration with scientists from the University of Pennsylvania, National Microbiology Laboratory of the Public Health Agency of Canada, and NIH’s Vaccine Research Center. Other partners and collaborators include Merck, ChronTech, University of Southampton, National Cancer Institute, and HIV Vaccines Trial Network. More information is available at www.inovio.com.

This press release contains, in addition to historical information, forward-looking statements. Such statements are based on management’s current estimates and expectations and are subject to a number of uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Inovio is providing this information as of the date of this press release, and expressly disclaims any duty to update information contained in this press release.

Forward-looking statements in this press release include, without limitation, express and implied statements relating to Inovio’s business, plans to develop electroporation-based drug and gene delivery technologies and DNA vaccines and pre-clinical and clinical studies. Actual events or results may differ from the expectations set forth herein as a result of a number of risks, uncertainties and other factors, including but not limited to: Inovio has a history of losses; all of Inovio’s potential human products are in research and development phases; no revenues have been generated from the sale of any such products, nor are any such revenues expected for at least the next several years; Inovio’s product candidates will require significant additional research and development efforts, including extensive preclinical and clinical testing; uncertainties inherent in clinical trials and product development programs, including but not limited to the fact that pre-clinical and clinical results may not be indicative of results achievable in other trials or for other indications, that results from one study may not necessarily be reflected or supported by the results of other similar studies, that results from an animal study may not be indicative of results achievable in human studies, that clinical testing is expensive and can take many years to complete, that the outcome of any clinical trial is uncertain and failure can occur at any time during the clinical trial process, and that Inovio’s electroporation technology and DNA vaccines may fail to show the desired safety and efficacy traits in clinical trials; all product candidates that Inovio advances to clinical testing will require regulatory approval prior to commercial use, and will require significant costs for commercialization; the availability of funding; the ability to manufacture vaccine candidates; the availability or potential availability of alternative therapies or treatments for the conditions targeted by Inovio or its collaborators, including alternatives that may be more efficacious or cost-effective than any therapy or treatment that Inovio and its collaborators hope to develop; whether Inovio’s proprietary rights are enforceable or defensible or infringe or allegedly infringe on rights of others or can withstand claims of invalidity; and the impact of government healthcare proposals. Readers are also referred to Inovio’s Annual Report on Form 10-K for the year ended December 31, 2009 filed with the Securities and Exchange Commission which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements.



CONTACT:

Investors:
Inovio Pharmaceuticals
Bernie Hertel, 858-410-3101
[email protected]
or
Media:
Richardson & Associates
Jeff Richardson, 805-491-8313
[email protected]

KEYWORDS:   United States  North America  Pennsylvania

INDUSTRY KEYWORDS:   Health  Biotechnology  Genetics  Infectious Diseases  Pharmaceutical

MEDIA:

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