SAN DIEGO, Nov. 8 /PRNewswire-FirstCall/ -- Vical Incorporated announced today the receipt of a $1.0 million milestone payment from Merck & Co., Inc. based on Merck’s initiation of a Phase I clinical trial of a DNA cancer vaccine. The vaccine is based on Vical’s DNA gene delivery technology and uses plasmid DNA (pDNA) encoding human epidermal growth factor receptor 2 (HER-2) and carcinoembryonic antigen (CEA). The Phase I trial will evaluate the safety, tolerability and immunogenicity of the vaccine.
“Vical’s technology platform offers a unique pathway for the development of cancer vaccines,” said Vijay B. Samant, Vical’s President and Chief Executive Officer, “and we are pleased that Merck has advanced into clinical evaluation of our technology in the cancer area in addition to our existing infectious disease vaccine collaboration.”
In June, Merck exercised options on three cancer targets, triggering a $3.0 million payment to Vical. In September, Merck was granted additional cancer vaccine options in exchange for non-exclusive, sublicenseable rights for vaccines against HIV, giving both companies freedom to operate in the field.
About Vical
Vical researches and develops biopharmaceutical products based on its patented DNA delivery technologies for the prevention and treatment of serious or life-threatening diseases. Potential applications of the company’s DNA delivery technology include DNA vaccines for infectious diseases or cancer, in which the expressed protein is an immunogen; cancer immunotherapeutics, in which the expressed protein is an immune system stimulant; and cardiovascular therapies, in which the expressed protein is an angiogenic growth factor. The company has retained all rights to its internally developed product candidates. In addition, the company collaborates with major pharmaceutical companies and biotechnology companies that give it access to complementary technologies or greater resources. These strategic partnerships provide the company with mutually beneficial opportunities to expand its product pipeline and serve significant unmet medical needs. Additional information on Vical is available at www.vical.com.
This press release contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those projected, including: whether Merck will conduct the Phase I clinical trial of its cancer vaccine; whether genes encoding HER-2 and CEA will trigger immune responses against cancer cells; whether the cancer vaccine will be shown to be safe and effective in clinical trials; whether Vical or its collaborative partners will seek or gain approval to market any product candidates; whether Vical or its collaborative partners will succeed in marketing any product candidates; and additional risks set forth in the company’s filings with the Securities and Exchange Commission. These forward-looking statements represent the company’s judgment as of the date of this release. The company disclaims, however, any intent or obligation to update these forward-looking statements.
Contacts: Investors: Media: Alan R. Engbring Susan Neath Vical Incorporated Atkins + Associates (858) 646-1127 (858) 527-3486 Website: www.vical.com
Vical Incorporated
CONTACT: Investors, Alan R. Engbring of Vical Incorporated,+1-858-646-1127; or Media, Susan Neath of Atkins + Associates,+1-858-527-3486, for Vical Incorporated
Web site: http://www.vical.com/
