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Vical Incorporated and AnGes MG have signed a non-binding Letter of Intent indicating their mutual interest to license the development and marketing rights for Vical's pandemic influenza DNA vaccines in Japan to AnGes
SAN DIEGO, CA, USA | October 7, 2008 | Vical Incorporated (Nasdaq: VICL) and AnGes MG, Inc., have signed a non-binding Letter of Intent indicating their mutual interest to license the development and marketing rights for Vical's pandemic influenza DNA vaccines in Japan to AnGes. AnGes plans to conduct due diligence on the pandemic influenza DNA vaccines, and both parties intend to negotiate terms and conditions potentially leading to a license, subject to completion of a mutually satisfactory definitive agreement.
Japan's geographic proximity to many of the avian influenza outbreaks in recent years puts the country at high risk for future outbreaks. The Japanese Ministry of Health, Labor and Welfare has estimated that the emergence of a new strain of influenza could lead to 13 to 25 million infections and 170,000 to 640,000 deaths in Japan. AnGes' experience in working with Vical's DNA delivery technology within the Japanese regulatory environment positions the company well to pursue further development in Japan based on Vical's recently announced preliminary Phase 1 H5N1 pandemic influenza data.
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 http://www.vical.com.
SOURCE Vical Incorporated |
