GenVec and National Institutes of Health Begin Work on SARS
Vaccine
GAITHERSBURG, Md., Apr. 24 /PRNewswire/ --
GAITHERSBURG, Md., April 24 /PRNewswire-FirstCall/ -- GenVec,
Inc. , a biopharmaceutical company, announced today that it has
signed an expansion to its existing agreement with the Vaccine
Research Center at the National Institute of Allergy and Infectious
Diseases of the National Institutes of Health (VRC/NIAID/NIH), which
is directed to HIV-1 vaccine development, to also allow the
VRC/NIAID/NIH and GenVec to begin development of a clinical grade
vaccine against Severe Acute Respiratory Syndrome (SARS) using
GenVec's adenovector technology.
Under the contract amendment, issued and managed by SAIC of
Frederick, Inc., GenVec will receive $420,000 and will be
responsible for constructing and producing clinical grade
adenovector-based vaccine candidates against SARS. The VRC/NIAID/NIH
will test the vaccine candidates in preclinical models to assess
safety and efficacy. Clinical trials in humans could commence
following successful preclinical testing results.
"The VRC/NIAID/NIH and GenVec are responding rapidly to this
emerging public health threat," commented Dr. C. Richter King,
GenVec's Vice President, Research. He continued, "Our technology is
highly versatile and allows us to rapidly address a variety of
global health threats, as highlighted by our existing vaccine
programs for HIV, malaria and dengue virus infections. The existence
of our HIV vaccine development program and our productive
relationship with the VRC/NIAID/NIH, has allowed GenVec to move
quickly to address a newly defined infectious target, such as SARS,
without having to significantly redirect company resources."
SARS is an emerging health threat that is believed to have
originated in China, with cases now being reporting in more than 25
countries including the United States. It is highly contagious, with
more than 4,400 reported cases worldwide, and inflicts a risk of
death estimated at 6% of those infected. The agent that purportedly
causes the disease, from the Coronavirus family, has been
identified. The recently completed sequence of the SARS Coronavirus
genome will be used by the VRC/NIAID/NIH and GenVec to develop
preventative adenoviral vector vaccine candidates.
GenVec is a publicly-held biopharmaceutical company focused on
the development and commercialization of products that produce
medically beneficial proteins at the site of disease. The Company
combines its patented gene transfer technologies with proprietary
therapeutic genes to create product candidates, such as TNFerade(TM)
for cancer, BIOBYPASS(R) for heart disease, and AdPEDF for macular
degeneration. The Company is also collaborating with the U.S.
government for the development of therapeutic vaccine candidates for
HIV, malaria, dengue virus, and SARS. Additional information on
GenVec is available at its web site located at
http://www.genvec.com/, and in
the Company's various filings with the Securities and Exchange
Commission.
Statements herein relating to future financial or business
performance, conditions or strategies and other financial and
business matters, including expectations regarding future revenues
and operating expenses, are forward- looking statements within the
meaning of the Private Securities Litigation Reform Act.
Forward-looking statements are typically identified by words or
phrases such as "believe," "expect," "anticipate," "intend,"
"estimate," "assume," "plan," "outlook," "prospect," and variations
of such words and similar expressions, or future or conditional
verbs such as "will," "would," "should," "could," "may," or similar
expressions. GenVec cautions that these forward-looking statements
are subject to numerous assumptions, risks and uncertainties, which
change over time. The following factors, among others, could cause
actual results to differ materially from forward-looking statements
or historical experience: risks relating to the early stage of
product candidates under development, risks relating to GenVec's
ability to identify and enter into agreements with potential
collaborative partners, uncertainties relating to clinical trials,
dependence on third parties, future capital needs, and risks
relating to the commercialization, if any, of GenVec's proposed
product candidates (such as marketing, regulatory, patent, product
liability, supply, competition and other risks). GenVec's SEC
reports identify additional factors that can affect forward-looking
statements. These forward-looking statements speak only as of the
date of this press release, and GenVec assumes no duty to update
forward-looking statements.
GenVec, Inc.
CONTACT: Ginny Dunn, Corporate Communications of GenVec, Inc.,
+1-301-944-1172, or gdunn@genvec.com
Web site: http://www.genvec.com/ |