ATLANTA, Jan. 17 /PRNewswire-FirstCall/ -- GeoVax Labs, Inc. , an Atlanta-based biotechnology company developing HIV-1/AIDS vaccines, announced it has been named a "2008 Deal of the Year" award winner by Georgia Bio. Georgia Bio recognized GeoVax for receiving a $15 million IPCAVD (Integrated Preclinical/Clinical AIDS VACCINE Development grant) from the National Institutes of Health (NIH) in October 2007. The award will be presented at Georgia Bio's annual awards dinner on January 24, 2008.
The Integrated IPCAVD Program supports product development and optimization in the later stages of vaccine research and includes human studies. The $15 million IPCAVD grant will strongly support GeoVax's promising HIV/AIDS vaccine development program. This grant is believed to be one of the largest grants of its kind to be awarded in the last fiscal year.
GeoVax will utilize this substantial source of funding for HIV/AIDS vaccine development activities and human clinical trials. The IPCAVD grant also supports expansion of GeoVax's scientific and management team, its GLP testing program, as well as its process development activities.
GeoVax employees Laurie Donald, Michael Hellerstein and Mark Reynolds will receive the award on behalf of the company. GeoVax Vice President Harriet Robinson and President Don Hildebrand will not be present as they will be attending a Phase 2 clinical (human) trial planning meeting for their AIDS vaccine with the HVTN (HIV Vaccine Trials Network [Division of National Institutes of Health) in Seattle.
"GeoVax embodies the spirit of Georgia Bio's 'Deal of the Year' Award, which recognizes companies that support our organization's goal of making the state synonymous with innovative life sciences research and products," said Charles Craig, Georgia Bio's President. "The awarding of the NIH grant underscores the potential that GeoVax's vaccines have to both prevent and treat HIV/AIDS."
GeoVax large Phase 2 HIV/AIDS vaccine trial (6th in a series of GeoVax human trials) is scheduled to begin mid 2008. This Phase 2 human trial is being planned in collaboration with the NIH-HVTN (HIV Vaccine Trials Network) which sponsors and conducts human trials evaluating GeoVax's HIV/AIDS vaccines.
GeoVax Labs, Inc.
GeoVax Labs, Inc. is a biotechnology company, established to develop, manufacture, license and commercialize human vaccines for diseases caused by HIV-1 (Human Immunodeficiency Virus) and other infectious agents. GeoVax's vaccine technology is covered by 20 issued or filed patent applications. GeoVax HIV/AIDS vaccines are designed to prevent Acquired Immunodeficiency Disease (AIDS), caused by the virus known as HIV-1. In addition, GeoVax HIV/AIDS vaccines may be effective as therapeutics (treatment of people infected with AIDS virus). Studies evaluating these vaccines in already HIV/AIDS infected individuals are in the planning stage.
Georgia Bio
Georgia Bio is a non-profit, organization promoting the interests and growth of the life sciences industry. Members include companies, universities, research institutions, government groups and other industry associations involved in discovery and application of life sciences products and related services that improve the health and well-being of people throughout the world.
Georgia Bio's mission is to foster an environment in which life sciences companies can succeed in Georgia. Georgia Bio's vision is to make Georgia synonymous with innovative life sciences research, product development and commercialization, and establish Georgia as a premier regional, national and international center of life sciences and nano-biotechnology industry. Georgia Bio is the state affiliate of the Washington, D.C., based Biotechnology Industry Organization (BIO), making Georgia Bio members part of statewide, national and international promotional and advocacy networks for the life sciences industry.
Safe Harbor Statement: All statements in this news release, not statements of historical fact, are forward-looking statements. These statements are based on expectations and assumptions on the date of this press release and are subject to numerous risks and uncertainties which could cause actual results to differ materially from those described in the forward-looking statements. Risks and uncertainties include, but are not limited to, whether: GeoVax can develop and manufacture these vaccines with the desired characteristics in a timely manner, GeoVax's vaccines will be safe for human use, GeoVax's vaccines will effectively prevent AIDS in humans, vaccines will receive regulatory approvals necessary to be licensed and marketed, GeoVax raises required capital to complete vaccine development, there is development of competitive products that may be more effective or easier to use than GeoVax's products, and other factors over which GeoVax has no control. GeoVax assumes no obligation to update these forward-looking statements, and does not intend to do so. Certain matters discussed in this news release are forward-looking statements involving certain risks and uncertainties including, without limitations, risks detailed in the Company's Securities and Exchange Commission filings and reports.
CONTACT: Don Hildebrand or Jennifer Nelms, both of GeoVax Labs, Inc.,
+1-404-727-0971; or Melanie Nimrodi, +1-312-546-3508, mnimrodi@frbir.com,
or Tim Grace, +1-312-640-6667, tgrace@frbir.com, both of Financial
Relations Board, for GeoVax Labs, Inc.