Inovio Biomedical expands existing license agreement with the University of Pennsylvania

Jan 11 2010

Inovio Biomedical Corporation (NYSE Amex: INO), a leader in DNA vaccine design, development and delivery, announced today that it has expanded its existing license agreement with the University of Pennsylvania, adding exclusive worldwide licenses for technology and intellectual property for novel DNA vaccines against pandemic influenza, Chikungunya, and foot-and-mouth disease. The amendment also encompasses new chemokine and cytokine molecular adjuvant technologies. The technology was developed in the University of Pennsylvania laboratory of Professor David B. Weiner, a pioneer in the field of DNA vaccines, and chairman of Inovio’s scientific advisory board.

“Our DNA vaccine technology offers the potential to prevent and/or treat a broad array of cancers and infectious diseases, and has achieved compelling preclinical and initial clinical results. This new intellectual property from an eminent DNA vaccine research laboratory broadens our opportunities to pursue important new infectious diseases.”

Dr. J. Joseph Kim, president and CEO, stated, “Our DNA vaccine technology offers the potential to prevent and/or treat a broad array of cancers and infectious diseases, and has achieved compelling preclinical and initial clinical results. This new intellectual property from an eminent DNA vaccine research laboratory broadens our opportunities to pursue important new infectious diseases.”

Under the terms of the original license agreement completed in 2007, the Company obtained exclusive worldwide rights to develop multiple DNA plasmids and constructs with the potential to treat and/or prevent HIV, HCV, HPV and influenza and included molecular adjuvants. These prior and most recent agreements and amendments provide for royalty payments, based on future sales, to the University of Pennsylvania.