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:11/27/2015)... , November 27, 2015 ... set to go online. The potential to save costs, ... vast and far from fully exploited as yet. Here, ... health records, either via mobile tablet or directly at ... --> ) -->      ...
(Date:11/27/2015)... -- Research and Markets ( ) has announced ... 2015-2019" report to their offering. ... the author the present scenario and growth prospects of ... the market size, the report considers revenue generated from ... and copper IUDs. The report forecasts the global intrauterine ...
(Date:11/26/2015)... , Países Bajos, November 26, 2015 ... la terapia fotodinámica de Bremachlorin para el cáncer avanzado. ... la inmunoterapia con la terapia fotodinámica de Bremachlorin para ... Un nuevo enfoque combina la inmunoterapia con la terapia ... Clinical Cancer Research . --> ...
Breaking Medicine Technology:
(Date:11/30/2015)... ... November 30, 2015 , ... Healthjump, Inc. announced ... a Healthcare IT consulting, development and support company. The purchase will expand the ... within DataTrade to extend the services currently provided by Healthjump. , ...
(Date:11/30/2015)... BAR, CALIF. (PRWEB) , ... ... ... Inc. ( ), a leading provider of enterprise Time and Attendance/Workforce ... Partner status in the Microsoft Partner Program with competencies in the Application ...
(Date:11/30/2015)... (PRWEB) , ... November 30, 2015 , ... ... in 2016. In 2016, expected coding changes are likely to include new codes ... codes. It’s not easy to understand the effects of code changes in musculoskeletal, ...
(Date:11/29/2015)... Orion, Clarkston, Metamora, Michigan (PRWEB) , ... ... ... Women's Excellence is once again accredited by the American Institute of Ultrasound ... process that allows practices to demonstrate that they meet or exceed nationally ...
(Date:11/29/2015)... ... November 29, 2015 , ... While conventional walkers afford considerable help with mobility, ... exercise weights. Fortunately, an inventor from Uniontown, Pa., has found a way to address ... benefits of a standard walker to improve the user’s quality of life. To begin ...
Breaking Medicine News(10 mins):