Vical Receives $6.3 Million Payment for Continued Funding of Allovectin-7(R) Pha...( SAN DIEGO June 12 /- Vical Incorp...),Health

SAN DIEGO, June 12 /PRNewswire-FirstCall/ -- Vical Incorporated (Nasdaq: VICL) today announced the receipt of $6.3 million of cash payments and equity investments from AnGes MG, Inc., under a previously announced collaborative agreement for continued funding of the company's ongoing Allovectin-7(R) Phase 3 metastatic melanoma trial. Through a series of cash payments and equity investments, Vical has received $15.3 million to date of the $22.6 million total committed by AnGes.

Vical is conducting the Allovectin-7(R) Immunotherapeutic for Metastatic Melanoma, or AIMM trial, a Phase 3 pivotal trial of the company's Allovectin-7(R) cancer immunotherapeutic as first-line therapy in chemotherapy-naive patients with Stage III or IV metastatic melanoma in accordance with a Special Protocol Assessment (SPA) agreement completed with the U.S. Food and Drug Administration (FDA). The SPA specifies the trial objectives and design, clinical endpoints, and planned analyses expected to be needed for product approval.

The AIMM trial calls for enrollment of approximately 375 patients with Stage III or IV metastatic melanoma, and is currently enrolling patients at clinical sites in the United States, Canada and Europe. A patient self-screening tool for trial eligibility is available online at http://www.melanomaclinicaltrial.com.

In exchange for funding the trial, AnGes received exclusive marketing rights in Japan and other key Asian countries, and also will receive certain royalties for sales in the United States and European countries. AnGes is obligated to pay Vical royalties on product sales in the specified Asian countries, plus certain sales-based milestone payments i
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