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GeoVax Labs, Inc. Announces Third Quarter 2008 Financial Results and Provides Operational Update

EBx(R) technology, to manufacture the MVA component of GeoVax's

HIV-1 vaccine. The breakthrough manufacturing technology developed

by Vivalis, through further development collaboration with GeoVax,

will create a new standard for manufacture of the MVA component of

GeoVax's HIV/AIDS vaccine. Vivalis' EBx(R) manufacturing platform,

with its increased effectiveness, superior quality and reliability,

is expected to better provide for MVA vaccine product availability

in ample quantities to meet sizeable demand and at a lesser cost.

Vivalis' vaccine manufacturing technology is based on a duck

embryonic stem cell substrate platform. Specifically, the EB66(R)

cell line provides continuous growth from a fully characterized

frozen cell bank, without necessitating fertilized embryo extraction

and processing, as with present chicken cell based technologies.

Furthermore, the EB66(R) cell line can be grown in suspension

(without the cells attached to the surface of the growth vessel) and

can be scaled up for growth in large bioreactors for commercial-

scale production of the MVA viral vaccine. The details of the final

license agreement between the parties are being negotiated and

GeoVax expects the final agreement to be executed before the end of

the year.

"On the financing front," Dr. McNally noted, "we are pleased with the financing strategy provided by the $10 million common stock purchase agreement with Fusion Capital Fund II, LLC, from which we are drawing in a judicious manner, and we are also benefiting greatly from government support in two ways -- from both the 5 year $15 million grant (approximately $3 million awarded annually) initially awarded in October 2007 by the National Institutes of Health, and also from ongoing clinical trial

SOURCE GeoVax Labs, Inc.
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