Vical Signs Binding Letter of Intent for Sales and Marketing of Allovectin-7(R)...( SAN DIEGO Dec. 3 /- Vical Incorporate...),Health

SAN DIEGO, Dec. 3 /PRNewswire-FirstCall/ -- Vical Incorporated (Nasdaq: VICL) today announced an exclusive, binding letter of intent with EIP Eczacibasi Ilac Pazarlama A.S. (EIP) for sales and marketing of the company's Allovectin-7(R) immunotherapeutic product candidate in Turkey and the Turkish Republic of Northern Cyprus. EIP has agreed to obtain the necessary regulatory approvals for the territory and to pay Vical upfront and milestone payments plus a specified transfer price in exchange for the rights to an exclusive license for the territory. EIP is a leading Turkish pharmaceutical company and has multiple licensing agreements with major biotech and pharmaceutical companies including Amgen, Pfizer, Procter & Gamble, and sanofi-aventis.

Vijay B. Samant, Vical's President and Chief Executive Officer, said, "As we advance toward completion of enrollment in our Phase 3 trial of Allovectin-7(R) in patients with advanced metastatic melanoma, we are also looking ahead to commercialization opportunities in key global markets. As an established pharmaceutical company in Turkey with a significant cancer franchise, EIP has the expertise to guide Allovectin-7(R) through the Turkish approval process and the strength to launch and sell Allovectin-7(R) successfully in the Turkish market. We continue to explore licensing and distribution agreements in additional international markets."

About Allovectin-7(R)

Allovectin-7(R) is a plasmid/lipid complex containing the DNA sequences encoding HLA-B7 and beta-2 microglobulin, which together form a Class I Major Histocompatibility Complex, or MHC-I antigen. Injection of Allovectin-7(R) directly into tumors is designed to stimulate an immune response against both local and distant metastatic tumors. Vical conducted a large Phase 2 trial evaluating Allovectin-7(R) immunothera
'/>"/>