Inovio Biomedical Corporation Grants Option for Intravascular Applications of its Electroporation Technology to Cardigant Medical

SAN DIEGO--(BUSINESS WIRE)--Inovio Biomedical Corporation (NYSE Amex:INO), a leader in DNA vaccine design, development and delivery, announced today it has granted an option to a commercial license to develop intravascular catheters using its proprietary electroporation technology to Cardigant Medical, Inc. of Long Beach, California. Cardigant intends to develop catheters utilizing Inovio’s electroporation technology in exchange for an option fee and, upon exercise of the option, royalties on product sales. Inovio preclinical and interim clinical data have shown the capability of the company’s electroporation technology to dramatically enhance cellular uptake of drugs and genes, and, in the case of genes, levels of gene expression. These characteristics may enhance the utility of drug or gene-based therapeutics for treating a variety of vascular conditions, including vulnerable plaques and others requiring revascularization.