Vical Licenses Vaxfectin(R) Adjuvant to Cyvax for Use in Malaria Vaccines
SAN DIEGO, Dec. 5, 2012 -- Vical Incorporated (Nasdaq:VICL) announced today a worldwide, nonexclusive license of its patented Vaxfectin® adjuvant to Cyvax, Inc., a privately held vaccine development company, for use in malaria vaccines. Financial terms of the agreement were not disclosed.
Vijay B. Samant, Vical's President and Chief Executive Officer, said, "We are pleased to expand our Vaxfectin® franchise with the license to Cyvax for malaria vaccines after entering into the initial Vaxfectin® license with Bristol-Myers Squibb for antibody production in the prior quarter. Vaxfectin® has an expansive range of potential applications as reflected by the scope of these licenses." Cyvax's Chief Executive Officer, Jonathan Markham, said, "After conducting a significant body of pre-clinical work, Cyvax elected to move forward with Vical's Vaxfectin® due to the robust enhancement in efficacy we observed with that adjuvant. The Vaxfectin® adjuvant also offers comparative advantages across a number of other important domains including safety, tolerability, and commercial scalability."
Vaxfectin® is a novel adjuvant discovered through extensive screening of Vical's lipid portfolio, and represents the best-performing among this new class of adjuvants. A growing library of research supports its broad utility with a variety of infectious disease and cancer applications. Vaxfectin® has been shown in multiple animal models to significantly increase the antibody and T-cell immune responses to antigens expressed from DNA vaccines. Vaxfectin® has achieved similar effects with protein-based vaccines for infectious diseases and with tumor-associated antigen peptides for cancer. Three Phase 1 clinical trials of Vaxfectin®-formulated vaccines against pandemic strains of influenza extended the immunogenicity results to humans, and demonstrated favorable safety and tolerability. Vical is developing Vaxfectin®-formulated vaccines including CyMVectin™, a prophylactic DNA vaccine against cytomegalovirus (CMV), and a therapeutic DNA vaccine against herpes simplex virus type 2 (HSV-2).
Vical researches and develops biopharmaceutical products based on its patented DNA delivery technologies for the prevention and treatment of serious or life-threatening diseases. Potential applications of the company's DNA delivery technology include DNA vaccines for infectious diseases or cancer, in which the expressed protein is an immunogen; cancer immunotherapeutics, in which the expressed protein is an immune system stimulant; and cardiovascular therapies, in which the expressed protein is an angiogenic growth factor. The company is developing certain infectious disease vaccines and cancer therapeutics internally. In addition, the company collaborates with major pharmaceutical companies and biotechnology companies that give it access to complementary technologies or greater resources. These strategic partnerships provide the company with mutually beneficial opportunities to expand its product pipeline and address significant unmet medical needs. Additional information on Vical is available at www.vical.com.
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Cyvax is a privately held biotechnology company developing a novel vaccine platform acquired from The Johns Hopkins University. The company's lead program is in the field of Malaria.
This press release contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements include statements about Vical's Vaxfectin® adjuvant, as well as Vical's focus, licensees, and independent and partnered product candidates. Risks and uncertainties include whether Cyvax or others will continue development of any malaria vaccines using Vical's Vaxfectin® adjuvant; whether Vical or others will continue development of CyMVectin™, the therapeutic HSV-2 vaccine, or any other Vaxfectin®-formulated product candidates; whether any Vaxfectin®-formulated vaccines or any other product candidates will be shown to be safe and effective in clinical trials or be commercially scalable; the timing, nature and cost of clinical trials; whether Vical or others will pursue any additional applications for its Vaxfectin® adjuvant; whether Vical or its collaborative partners will seek or gain approval to market any product candidates; whether Vical or its collaborative partners will succeed in marketing any product candidates; and additional risks set forth in the company's filings with the Securities and Exchange Commission. 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: Alan R. Engbring