GAITHERSBURG, Md., Oct. 2, 2012 /PRNewswire/ -- GenVec, Inc.
(Nasdaq: 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 www.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 www.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:
GenVec,
Inc.
Douglas J.
Swirsky
(240)
632-5510
dswirsky@genvec.com
|
Institutional Investor Contact:
S.A.
Noonan Communications
Susan A.
Noonan
(212)
966-3650
susan@sanoonan.com
|
SOURCE GenVec, Inc.