GenVec Inc. Announces Contract With The Department of Homeland Security
GAITHERSBURG, Md., Feb. 19 /PRNewswire-FirstCall/ -- Today GenVec, Inc. announced a new contract with the Department of Homeland Security (DHS) to continue the development of adenovector-based vaccines against foot-and-mouth disease (FMD) based on research and development done in collaboration with USDA-ARS and DHS S&T scientists at the Plum Island Animal Disease Center. Under this new agreement, GenVec will receive $3.8 million in program funding the first year and an additional $0.7 million if DHS exercises its renewal option under the contract.
"This contract expands our ongoing efforts to develop adenovector-based FMD vaccines," said Dr. Paul Fischer, GenVec's President and Chief Executive Officer. "This new contract with the DHS will support new vaccine discovery and technology improvement for this important threat."
GenVec, Inc. is a biopharmaceutical company developing novel therapeutic drugs and vaccines. GenVec's lead product, TNFerade(TM), is currently in a pivotal clinical study (PACT) in locally advanced pancreatic cancer. TNFerade has also been and is currently being evaluated for its potential use in the treatment of several other cancers, including esophageal cancer, rectal cancer, and head and neck cancer. GenVec also uses its proprietary adenovector technology to develop vaccines for infectious diseases including HIV, malaria, foot-and-mouth disease, respiratory syncytial virus (RSV), and HSV-2. Additional information about GenVec is available at www.genvec.com and in the company's various filings with the Securities and Exchange Commission.
CONTACT: Investor Contact: Danielle M. DiPirro of GenVec, Inc.,
+1-301-944-1877, ddipirro@genvec.com; Media Contact: Andrew Mielach of
Tiberend Strategic Advisors, Inc., +1-212-827-0020,
amielach@tiberendstrategicadvisors.com
Web site: http://www.genvec.com/