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GeoVax Labs, Inc. Reports Fourth Quarter and Year-End 2008 Financial Results
Date:3/12/2009

is believed to be one of the largest grants of its kind to be awarded in the last fiscal year. In September, GeoVax announced receipt of an estimated $15 million Integrated Preclinical/Clinical AIDS Vaccine Development (IPCAVD) Grant to support its HIV/AIDS vaccine program. This large grant was awarded by the National Institute of Allergy & Infectious Disease (NIAID), a division of the NIH. The grant funding period is over a five year period which commenced in October 2007. Only meritorious HIV/AIDS prevention vaccine candidates are considered to receive an IPCAVD award. Candidate companies are highly scrutinized and must supply substantial positive AIDS vaccine data to support their application. IPCAVD grants are awarded on a competitive basis and are designed to support later stage vaccine research, development and human trials. GeoVax is utilizing this funding to further its HIV/AIDS vaccine development, optimization and production. * During April and May 2008, the Company raised $1,365,000 in capital through a private placement of its common stock and warrants sold to individual accredited investors. * In May 2008, the Company entered into a $10 million common stock purchase agreement with Fusion Capital Fund II, LLC, a Chicago-based institutional investor. Under the agreement, the Company may sell, from time to time, up to $10 million of its common stock to Fusion over a 25-month period, following approval of the Company's registration statement by the Securities and Exchange Commission (declared effective on July 1, 2008). The Company has the right to sell shares of its common stock to Fusion, from time to time, in amounts ranging from $80,000 to $1 million, depending on certain
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