GenVec Signs Cooperative Research and Development Agreement (CRADA) With the National Institute of Allergy and Infectious Diseases (NIAID) to Develop RSV Vaccines
Posted on: Tuesday, 20 March 2007, 09:00 CDT
GenVec, Inc. (Nasdaq: GNVC) announced today that it has signed a Cooperative Research and Development Agreement ("CRADA") with the National Institute of Allergy and Infectious Diseases ("NIAID"), part of the National Institutes of Health (NIH), to develop adenovector-based vaccines for the prevention and treatment of respiratory syncytial virus ("RSV"). The collaborative research will combine NIAID's scientific and clinical expertise in RSV with GenVec's expertise in development of adenovector-based vaccines and proprietary manufacturing process. In addition to the RSV collaboration, GenVec is working with the NIAID on the clinical development of HIV and influenza vaccines.
"Data emerging from the clinical trials of our HIV vaccine candidate indicates that GenVec's adenovector technology induces both antibodies and cellular immune responses," said Dr. Rick King, GenVec's senior vice president of research. "This has the potential to be highly effective in preventing RSV-induced disease. We look forward to testing this concept with our NIAID partners."
About Respiratory Syncytial Virus
RSV is the single most important viral cause of lower respiratory infections in infants and young children. According to the WHO, nearly all U.S. children have been infected with RSV by two years of age. There are up to 130,000 pediatric hospitalizations per year in the U.S. RSV also causes repeated infections throughout life, which usually produce moderate-to-severe cold-like symptoms. However, severe lower respiratory tract infection may occur at any age, especially among the elderly or among those with compromised cardiac, pulmonary, or immune systems. Among the institutionalized elderly, it is estimated there are about 15,000 excess deaths from RSV.
About GenVec
GenVec, Inc. is a biopharmaceutical company developing novel gene-based therapeutic drugs and vaccines. Each of the Company's product candidates uses patent-protected technology to deliver genes that produce beneficial proteins. GenVec's lead product, TNFerade™ is currently in a pivotal Phase II/III study (PACT) in locally advanced pancreatic cancer; Phase II studies are in progress in rectal cancer and melanoma; and Phase I/II studies are in progress in head and neck cancer. GenVec also uses its proprietary adenovector technology to develop vaccines for infectious diseases including HIV, malaria, seasonal and pandemic flu, and foot and mouth disease. Additional information about GenVec is available at 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 programs and studies, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act. GenVec cautions that these forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Factors that may cause actual results to differ materially from the results discussed in the forward-looking statements or historical experience include risks relating to the early stage of GenVec's product candidates under development; uncertainties relating to clinical trials; the timing and content of future U.S. Food and Drug Administration regulatory actions with respect to GenVec, its product candidates, or collaborators, 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); dependence on the efforts of third parties; dependence on intellectual property; and risks that we may lack the financial resources and access to capital to fund our operations. Further information on the factors and risks that could affect GenVec's business, financial conditions and results of operations, are contained in GenVec's filings with the U.S. Securities and Exchange Commission (SEC), which are available at www.sec.gov. These forward-looking statements speak only as of the date of this press release, and GenVec assumes no duty to update forward-looking statements.
Source: Business Wire
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