Oslo, Norway & Tampere, Finland; November 17, 2004, Inovio AS and FIT
Biotech Plc jointly announced today that they have entered into a research
collaboration and option agreement to develop a therapeutic and/or preventive
HIV vaccine.
Immunotherapy and DNA vaccine expert FIT Biotech has developed a novel HIV
vaccine candidate based on its proprietary GTU gene technology. This is now to
be matched with Inovio's highly efficient Elgen gene delivery method which
significantly improves transfection and immunogenicity of gene based vaccines.
The gene delivery system has already been shown to work well in large animals
and is expected to behave in a similar manner in humans. Under the terms of the
agreement, Inovio and FIT Biotech will start a research program to validate the
combination of their respective technologies in large animals. The agreement
includes an option for FIT Biotech to negotiate a co-development/license
agreement for moving the program into clinical trials.
“We are happy to expand our pipeline with this novel approach to HIV vaccine
development” said Iacob Mathiesen, Ph.D., Chief Executive Officer of Inovio.
“This agreement underlines our efforts to build a portfolio of product programs
which already includes vaccines against cancer and infectious diseases such as
TB.”
“There is a clear need to enhance transfection in DNA vaccination” said Kalevi
Reijonen, CEO of FIT Biotech. “We expect the electroporation technology provided
by Inovio for our HIV vaccine project to induce stronger immunoresponse with
clinical effect. Whilst good results are being achieved using cocktails of
antiviral therepeutics, these remain expensive. The hunt therefore continues for
vaccines - there are still none available for a disease which at last count
affects over 40 million people globally.”
Notes to editors
Inovio AS (www.inovio.com) is a leading biotechnology company
specializing in the development and use of electroporation-based vaccination/
therapy systems for in vivo delivery of genes and other bio-molecules. The
Company is developing equipment and protocols for safe and efficacious delivery
of DNA and other polynucleotides for obtaining therapeutic and sustained level
of gene expression. Inovio is able to work closely with its partners in the
major markets by providing novel and innovative procedures, highly sophisticated
equipment and expertise in in vivo electroporation for gene therapy and DNA
vaccine companies. The company is funded by a consortium of Scandinavian
investors.
FIT Biotech Plc (www.fitbiotech.com) is an innovative medical biotechnology
company engaged in the development and commercialization of its proprietary Gene
Transport Unit (GTU®) technology and GTU product applications in DNA vaccination
and immune therapy. The company’s other areas of expertise are artificial
immunogen (multiepitope), recombinant protein and antibody technologies, as well
as GMP grade process development and production of DNA vaccines. In addition,
the company has developed and launched diagnostic products for the detection of
natural latex allergens. FIT Biotech was established in 1995 and is located in
Tampere, Finland, with operations also in Tartu, Estonia.
Further information
Kalevi Reijonen, MD
CEO & President
FIT Biotech Oyj Plc
Biokatu 8
33520 Tampere
Finland
Tel. +358 40 843 5695
E-mail: kalevi.reijonen@fitbiotech.com
Iacob Mathiesen, Ph.D.
CEO
Inovio AS
Forskningsveien 2a, 0373 Oslo, Norway
Phone: +47 22490652
Mobile: +47 92802471
Fax: +47 22495703
Web page: www.inovio.com
i.mathiesen@inovio.com
Press
Richard Hayhurst
Alto-Marketing
+44 1489 557 672
richardh@alto-marketing.com
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