BLUE BELL, Pa., March 26, 2014 /PRNewswire/ -- Inovio Pharmaceuticals, Inc. (NYSE MKT: INO) today announced that it was recognized with three industry awards at the World Vaccine Congress, which is being held this week in Washington, D.C. The Vaccine Industry Excellence (ViE) Awards recognize outstanding vaccine advancements and achievements of therapeutic and preventive vaccine developers across the global industry as judged by a panel of global biotech industry stakeholders.
Inovio was given accolades by its industry peers for "Best Therapeutic Vaccine," for its novel immunotherapy for cervical pre-cancers; "Best Licensing Deal," for its $400 million collaboration with Roche for Inovio's DNA-based immunotherapies for prostate cancer and hepatitis B; and, "Best Early Stage Vaccine Biotech," for its ability to raise funds and build its broad pipeline of immunotherapies and DNA vaccines.
The "Best Therapeutic Vaccine" award recognizes VGX-3100, Inovio's DNA vaccine designed to treat HPV-caused cervical dysplasia as well as cervical cancer, head and neck cancer, and anogenital cancers caused by HPV. Inovio is currently assessing the ability of VGX-3100 to treat cervical dysplasias caused by HPV infection in a global phase II trial, with results expected mid-year 2014. In previous human studies this therapeutic vaccine demonstrated that it not only drives robust immune responses to antigens from high risk types of human papillomavirus (HPV) infection but that these immune responses display a powerful killing effect against cells changed by HPV into pre-cancerous dysplasias. This desirable effect may ultimately contribute to the regression or elimination of cervical dysplasia and various cancers caused by HPV. These data have been published in the peer-reviewed journal, Science-Translational Medicine.
"The Best Vaccine Licensing Deal" recognizes industry business combinations that possess the greatest potential for success in bringing innovative medicine to the market. Last year, Inovio signed a $400 million collaborative agreement with pharma giant Roche to co-develop Inovio's therapeutic vaccines for prostate cancer (INO-5150) and hepatitis B (INO-1800). The deal provided Inovio with an upfront payment of USD $10 million. Roche is paying for all preclinical and clinical development costs. Development and commercial milestones amount to potentially $412.5 million. Additional development milestones are payable if Roche pursues other indications with INO-5150 or INO-1800. Inovio is entitled to receive up to double-digit tiered royalties on product sales.
Inovio was also selected as "The Best Early Stage Vaccine Biotech" for its pioneering work to advance its portfolio of DNA vaccines to clinical stage candidates, with notable phase II study results of its lead immunotherapy forthcoming in the months ahead. Corporately, Inovio has raised over $120 million in the capital markets in the past year and established a major collaboration with Roche.
Dr. J. Joseph Kim, President and CEO, said, "We greatly appreciate the World Vaccine Congress' recognition of Inovio's leadership and innovation in advancing a vital new generation of immune-system-stimulating therapies and vaccines."
About the ViE Awards
The World Vaccine Congress & Expo, now in its 14th year, is the largest and most comprehensive event in the industry. Covering everything from the latest R&D to manufacturing to corporate development strategies, the Congress hosts the only awards ceremony dedicated to the vaccine industry. The ViE Awards honor individuals, organizations and initiatives which have made significant contributions over the past 12 months to innovation in the field of vaccines.
About Inovio Pharmaceuticals, Inc.
Inovio is revolutionizing vaccines to prevent and treat today's cancers and challenging infectious diseases. Its SynCon® vaccines, in combination with its proprietary electroporation delivery, are generating best-in-class immune responses, with therapeutic T-cell responses exceeding other technologies in terms of magnitude, breadth, and response rate. Human data to date have shown a favorable safety profile. Inovio's lead vaccine, a therapeutic against HPV-caused pre-cancers and cancers, is in phase II. Other phase I and preclinical programs target prostate, breast, and lung cancers as well as HIV, influenza, malaria and hepatitis. Partners and collaborators include Roche, the University of Pennsylvania, NIH, HIV Vaccines Trial Network, National Cancer Institute, U.S. Military HIV Research Program, University of Southampton, US Dept. of Homeland Security, University of Manitoba and PATH Malaria Vaccine Initiative. More information is available at www.inovio.com.
This press release contains certain forward-looking statements relating to our business, including our plans to develop electroporation-based drug and gene delivery technologies and DNA vaccines and our capital resources. Actual events or results may differ from the expectations set forth herein as a result of a number of factors, including uncertainties inherent in pre-clinical studies, clinical trials and product development programs (including, but not limited to, the fact that pre-clinical and clinical results referenced in this release may not be indicative of results achievable in other trials or for other indications, that the studies or trials may not be successful or achieve the results desired, that pre-clinical studies and clinical trials may not commence or be completed in the time periods anticipated, that results from one study may not necessarily be reflected or supported by the results of other similar studies and that results from an animal study may not be indicative of results achievable in human studies), the availability of funding to support continuing research and studies in an effort to prove safety and efficacy of electroporation technology as a delivery mechanism or develop viable DNA vaccines, the adequacy of our capital resources, the availability or potential availability of alternative therapies or treatments for the conditions targeted by the company or its collaborators, including alternatives that may be more efficacious or cost-effective than any therapy or treatment that the company and its collaborators hope to develop, evaluation of potential opportunities, issues involving product liability, issues involving patents and whether they or licenses to them will provide the company with meaningful protection from others using the covered technologies, whether such proprietary rights are enforceable or defensible or infringe or allegedly infringe on rights of others or can withstand claims of invalidity and whether the company can finance or devote other significant resources that may be necessary to prosecute, protect or defend them, the level of corporate expenditures, assessments of the company's technology by potential corporate or other partners or collaborators, capital market conditions, the impact of government healthcare proposals and other factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2013, and other regulatory filings from time to time. There can be no assurance that any product in Inovio's pipeline will be successfully developed or manufactured, that final results of clinical studies will be supportive of regulatory approvals required to market licensed products, or that any of the forward-looking information provided herein will be proven accurate.
SOURCE Inovio Pharmaceuticals, Inc.