Navigation Links
GenVec Achieves Second Milestone in Collaboration
Date:12/6/2011

GAITHERSBURG, Md., Dec. 6, 2011 /PRNewswire/ -- GenVec, Inc. (Nasdaq: GNVC) today announced that it has achieved the second milestone in its collaboration with Novartis (NYSE: NVS), related to the development of treatments for hearing loss and balance disorders. The milestone was triggered by the successful completion of certain preclinical development activities.

"Completing this milestone reflects sustained progress and we look forward to reaching additional milestones with Novartis in this very exciting program," said Dr. Paul Fischer, GenVec's President and Chief Executive Officer.

About the CollaborationIn January 2010, GenVec entered into a worldwide licensing and collaboration agreement with Novartis to discover and develop novel treatments for hearing loss and balance disorders. Under the terms of the agreement, if certain clinical, regulatory, and sales milestones are met, GenVec is eligible to receive up to $213.6 million, including upfront and milestone payments in addition to royalties on future sales.

In August 2010, we entered into an additional agreement with Novartis, to manufacture clinical trial material for up to two lead product candidates for this program.

About GenVecGenVec is a biopharmaceutical company using differentiated, proprietary technologies to create superior therapeutics and vaccines. A key component of our strategy is to develop and commercialize our product candidates through collaborations. GenVec is working with leading companies and organizations such as Novartis, Merial, and the U.S. Government to support a portfolio of product programs that address the prevention and treatment of a number of significant human and animal health concerns. GenVec's development programs address therapeutic areas such as hearing loss and balance disorders; as well as vaccines against infectious diseases including respiratory syncytial virus (RSV), herpes simplex virus type 2 (HSV-2), dengue fever, influenza, malaria, and human immunodeficiency virus (HIV). In the area of animal health we are developing vaccines against foot-and-mouth disease (FMD). Additional information about GenVec is available at www.genvec.com and in the Company's various filings with the Securities and Exchange Commission.

Statements herein relating to future financial or business performance, conditions or strategies and other financial and business matters, including expectations regarding funding, grants, collaborations, revenues, cash burn rates, the development of products and the success of the collaboration with Novartis, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act.  GenVec cautions that these forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Factors that may cause actual results to differ materially from the results discussed in the forward-looking statements or historical experience include risks and uncertainties, including the failure by GenVec to secure and maintain relationships with collaborators; risks relating to the early stage of GenVec's product candidates under development; uncertainties relating to research and development activities; risks relating to the commercialization, if any, of GenVec's proposed product candidates; dependence on the efforts of collaborators and third parties; dependence on intellectual property; and risks that we may lack the financial resources and access to capital to fund our operations.  Further information on the factors and risks that could affect GenVec's business, financial conditions and results of operations, are contained in GenVec's filings with the U.S. Securities and Exchange Commission (SEC), which are available at www.sec.gov.  These forward-looking statements speak only as of the date of this press release, and GenVec assumes no duty to update forward-looking statements.Retail Investor and Media Contact: Institutional Investor Contact: GenVec, Inc. S.A. Noonan Communications Douglas J. Swirsky Susan A. Noonan (240) 632-5510 (212) 966-3650 dswirsky@genvec.com  susan@sanoonan.com

 


'/>"/>

SOURCE GenVec, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. GenVec Announces Registered Offering of $6 Million in Common Stock and Warrants
2. GenVec Expands Contract Supporting Malaria Vaccine Program
3. GenVec Reports Second Quarter 2009 Financial Results
4. GenVec Receives an Approximately $2.5 Million Grant to Support Novel Cell Line Development
5. GenVec Announces Registered Offering of $6 Million in Common Stock and Warrants
6. GenVec Announces Third Quarter 2009 Results Conference Call
7. GenVec Reports Third Quarter 2009 Financial Results
8. Merriman Curhan Ford Acted as Placement Agent in GenVecs $28 Million Registered Offering
9. GenVec to Present at the 13th Annual BIO CEO & Investor Conference
10. GenVec To Host Fourth Quarter and Year-End 2010 Earnings Call and Webcast
11. GenVec, Inc. Announces Effectiveness of Reverse Stock Split
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/23/2017)... 2017 Aviva Systems Biology Corporation (ASB) ... of GenWay Biotech Incorporated, a protein solutions and ... offering for both the research and diagnostic markets. ... enhance capabilities for both entities. GenWay,s 18 years of ... nicely complement ASB,s objective to become a leading ...
(Date:2/22/2017)... Therapeutics, Inc. (NASDAQ: PETX), a pet therapeutics company focused on ... companion animals, will host a live conference call on Tuesday, ... results from the fourth quarter and full year ended December ... access the audio webcast or use the conference ... ...
(Date:2/22/2017)... 22, 2017  PrimeVax Immuno-Oncology, Inc. announced today its ... the Annual Biocom Global Life Science Partnering Conference.  The ... AM, at the Torrey Pines Lodge, in San Diego.  ... at Biocom who have chosen our company, amongst numerous ... companies, investors, and clinical researchers," said Mr. Chen. "In ...
(Date:2/22/2017)... ... February 22, 2017 , ... ProMIS Neurosciences ... treatments for neurodegenerative diseases, today announced it has issued a scientific white paper ... one of a series of commentaries from ProMIS’s scientific team offering insight into ...
Breaking Biology Technology:
(Date:2/10/2017)... , Feb 10, 2017 ... new report "Personalized Medicine - Scientific and Commercial Aspects" ... ... personalized medicine. Diagnosis is integrated with therapy for selection of ... on early detection and prevention of disease in modern medicine. ...
(Date:2/8/2017)... Feb. 7, 2017  Aware, Inc. (NASDAQ: AWRE ... reported financial results for its quarter and year ended December ... of 2016 was $3.9 million compared to $6.9 million in ... quarter of 2016 was $0.6 million compared to $2.6 million ... fourth quarter of 2016 was $0.5 million, or $0.02 per ...
(Date:2/8/2017)... , Feb. 7, 2017 Report Highlights ... by 2021 from $8.3 billion in 2016 at a ... to 2021. Report Includes - An overview of ... market trends, with data from 2015 and 2016, and ... - Segmentation of the market on the basis of ...
Breaking Biology News(10 mins):