Navigation Links
Vical Receives Payment from AnGes MG for Allovectin-7(R) Phase 3 Pivotal Trial

SAN DIEGO, Jan. 17 /PRNewswire-FirstCall/ -- Vical Incorporated (Nasdaq: VICL) today announced the receipt of a $2.1 million cash payment from AnGes MG, Inc. for costs associated with the ongoing Allovectin-7(R) Immunotherapeutic for Metastatic Melanoma (AIMM) Phase 3 trial.

AnGes is funding the Phase 3 pivotal trial of Allovectin-7(R) under a previously announced collaborative agreement through a scheduled series of cash payments and equity investments totaling $22.6 million, for which 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. Vical is conducting the trial in accordance with a Special Protocol Assessment (SPA) completed with the U.S. Food and Drug Administration (FDA).

The payment was triggered by utilization of previous cash balances, reflecting progress in the trial. The cash payment was received as anticipated in late December, and will be included in Vical's year-end 2007 cash balances, consistent with the company's guidance of a projected 2007 net cash burn of $27 million to $32 million. Revenue related to the cash payment will be deferred and matched to trial expenses as they are incurred.

About Vical

Vical researches and develops biopharmaceutical products based on its patented DNA delivery technologies for the prevention and treatment of serious or life-threatening diseases. Potential applications of the company's DNA delivery technology include DNA vaccines for infectious diseases or cancer, in which the expressed protein is an immunogen; cancer immunotherapeutics, in which the expressed protein is an immune system stimulant; and cardiovascular therapies, in which the expressed protein is an angiogenic growth factor. The company is developing certain infectious disease vaccines and cancer therapeutics internally. In addition, the company collaborates with major pharmaceutical companies and biotechnology companies that give it access to complementary technologies or greater resources. These strategic partnerships provide the company with mutually beneficial opportunities to expand its product pipeline and address significant unmet medical needs. Additional information on Vical is available at

This press release contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those projected, including: whether Vical or others will continue development of Allovectin-7(R); whether Vical will be able to recruit patients as planned, if at all; whether Vical will receive all of the clinical trial funding from AnGes under the collaborative agreement, which will depend on continued development of Allovectin-7(R) and certain other conditions; whether Vical will receive any or all of the sales-based milestone payments and royalties for sales in the specified Asian countries, which will depend on the efforts of AnGes in obtaining regulatory approval and commercializing Allovectin-7(R) in those countries; whether any sales will be generated in the United States or Europe, which will depend on the efforts of Vical and potentially additional partners in obtaining regulatory approvals and commercializing Allovectin-7(R) in those regions; whether Allovectin-7(R) or any other product candidates will be shown to be safe and effective; the timing, nature and cost of clinical trials; whether Vical or its collaborative partners will seek or gain approval to market any product candidates; whether Vical or its collaborative partners will succeed in marketing any product candidates; whether defined sales levels will be achieved in any markets; and additional risks set forth in the company's filings with the Securities and Exchange Commission. These forward-looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent or obligation to update these forward-looking statements.

Contact: Alan R. Engbring

(858) 646-1127


SOURCE Vical Incorporated
Copyright©2008 PR Newswire.
All rights reserved

Related medicine technology :

1. Interim Safety Data Favorable for Vicals Phase 2 Trial of DNA Vaccine Against CMV
2. New Study Shows Listeria Vaccine for Cervical Cancer Found Safe
3. Vical Demonstrates Dose-sparing of Protein-based H5N1 Influenza Vaccine With Vaxfectin(TM) Adjuvant
4. The First Annual Cervical Cancer/HPV Conference Tackles Controversial Vaccine Issues and Encourages Advocacy
5. Vical Licensee Sanofi-aventis Initiates Phase 3 Trial to Reduce Amputations
6. Spine Institute of Louisiana Offers Cervical Spine Motion Preservation as an Alternative to Fusion Surgery
7. Vical Begins Phase 1 Trial of DNA Vaccine Against H5N1 Pandemic Influenza
8. Multiple NIH Phase 2 HIV Vaccine Trials Using Vicals Technology Produce Encouraging Results
9. Vical Reports Second Quarter 2007 Financial Results, Allowance of Pandemic Influenza IND and Other Advances in Product Development Programs
10. Fovea Pharmaceuticals Receives Orphan Drug Designation from EC for RdCVF for the Treatment of Retinitis Pigmentosa
11. Hawaii Biotech Receives Allowance to Perform West Nile Vaccine Clinical Trials
Post Your Comments:
(Date:11/24/2015)...  Array BioPharma Inc. (Nasdaq: ARRY ) ... Ron Squarer , will present at the Piper ... public is welcome to participate in the conference ... Jaffray Annual Healthcare ConferencePresenter:  , Ron Squarer, Chief ... Eastern Time Webcast: , ...
(Date:11/24/2015)... NEWPORT NEWS, Va. , Nov. 24, 2015 /PRNewswire/ ... that they have signed an agreement for DILON to ... select geographies across the globe. The signing of this distribution ... GE,s Discovery NM750b Molecular Breast Imaging system and is ... ways to provide better healthcare solutions for clinicians and ...
(Date:11/24/2015)... 2015 . ... adds Latest Guidebook for Chinese Medical Device GMP ... in November 2015 to the medical devices market ... at . China ... global economies with a fifth population in the ...
Breaking Medicine Technology:
(Date:11/25/2015)... , ... November 25, 2015 , ... “While riding the ... inventor, from Bronx, N.Y. “I thought there had to be a convenient and comfortable ... PROTECTOR. , The PROTECTOR enables disabled individuals to safely travel during cold or inclement ...
(Date:11/25/2015)... ... November 25, 2015 , ... ... that it has undertaken significant expansion of its current state of the art ... part of PharmaTech’s strategy to increase its manufacturing capacity as well as to ...
(Date:11/25/2015)... ... November 25, 2015 , ... Students and parents have something to be thankful ... Create Real Impact awards. California Casualty is proud to support the contest ... distracted and reckless driving, the number one killer of young drivers. , Almost ...
(Date:11/24/2015)... ... ... New patients who wish to seek treatment for missing teeth can now visit ... ON practice. Dr. Williams has been providing dental service for over 34 years, and ... can lead to a variety of complications if they are not replaced quickly, including ...
(Date:11/24/2015)... ... November 25, 2015 , ... ... development solutions for drugs, biologics, consumer health and global clinical supply services, today ... the upcoming Clinical Trial Supply East Asia Conference, to be held at the ...
Breaking Medicine News(10 mins):