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GenVec Receives Second-Year Funding From SAIC for HIV and Influenza Vaccine Development
Date:10/6/2010

GAITHERSBURG, Md., Oct. 6 /PRNewswire/ -- GenVec, Inc. (Nasdaq: GNVC) announced today that SAIC-Frederick, Inc. has executed its first option period (year two) under a previously announced four year-contract with GenVec for the development of influenza and HIV vaccines in support of the Vaccine Research Center (VRC) of the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH).  GenVec will receive up to approximately $3.5 million for the second year of activities under the SAIC contract. This funding increases the total value of the contract, originally valued at $22 million, to up to approximately $24 million. These funds will continue to support the development of new HIV and influenza vaccine candidates based on GenVec's proprietary adenovirus vector and production cell line technologies. Under the contract, the vaccines would be comprised of genetic material supplied by the VRC and adenoviral vectors supplied by GenVec.

"An important focus of this collaboration is on the development of vaccines based on novel vectors that have the potential to elicit the appropriate immune response," stated Dr. Paul Fischer, GenVec's President and CEO.

GenVec and the NIAID Vaccine Research Center have partnered on HIV and influenza vaccine development for several years under Collaborative Research and Development Agreements utilizing GenVec's technologies.  Under a separate contract, GenVec has produced adenovector-based HIV vaccines that have been tested in approximately 1,400 subjects in sixteen NIAID-sponsored Phase I and Phase II clinical trials.  

About GenVecGenVec, Inc. is a biopharmaceutical company developing novel therapeutic drugs and vaccines. GenVec uses proprietary drug discovery and development technologies to support a portfolio of product programs that address the prevention a
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SOURCE GenVec, Inc.
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