BRISBANE, Calif., May 30 /PRNewswire-FirstCall/ -- VaxGen, Inc. today announced that it is ending a collaboration with EndoBiologics International Corp.
(Logo: http://www.newscom.com/cgi-bin/prnh/19991112/VAXGENLOGO)
VaxGen announced in May 2005 that it would fund proof-of-concept studies and then determine whether to pursue commercial development of the vaccine candidate. The initial proof-of-concept phase was undertaken jointly by EndoBiologics and VaxGen, with VaxGen providing research funding to EndoBiologics and conducting pre-clinical testing of the vaccine candidate.
“Although we do not wish to pursue commercial development of this product, we will continue to look for other opportunities to develop a vaccine candidate against Meningitis B,” said Lance K. Gordon, Ph.D., VaxGen’s President and Chief Executive Officer.
About VaxGen
VaxGen, Inc. is a biopharmaceutical company engaged in the development, manufacture and commercialization of biologic products for the prevention and treatment of human infectious diseases, including anthrax and smallpox. The company has been awarded an $877.5 million U.S. government contract to provide 75 million doses of its recombinant anthrax vaccine for civilian biodefense. Based in Brisbane, Calif., VaxGen operates a wholly owned manufacturing facility in California and is a shareholder in Celltrion, Inc., a South Korean joint venture established to provide contract manufacturing to the global pharmaceutical industry. For more information, please visit the company’s web site at: http://www.vaxgen.com.
NOTE: This press release contains “forward-looking statements” within the meaning of the federal securities laws. These forward looking statements include, without limitation, statements regarding the development of a vaccine candidate against Meningitis B. These statements are subject to risks and uncertainties that could cause actual results and events to differ materially from those anticipated. Reference should be made to Item 8.01 of the company’s Current Report on Form 8-K filed by VaxGen on February 16, 2006, under the heading “Risk Factors” for a more detailed description of such risks. Readers are cautioned not to place undue reliance on these forward- looking statements that speak only as of the date of this release. VaxGen undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release except as required by law.
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CONTACT: Kesinee Yip, Associate Director, Corporate Affairs, of VaxGen,Inc., +1-650-624-1041
Web site: http://www.vaxgen.com//
