Transaction will bring together Inovio’s delivery technology and VGX’ DNA vaccine candidates.
Inovio Biomedical has decided to merge with VGX Pharmaceuticals in an all-stock agreement. The transaction will combine Inovio Biomedical’s electroporation-based DNA vaccine delivery technology with VGX’ DNA vaccine pipeline.
The firms expect to complete the merger in the fourth quarter. Upon closing, Inovio Biomedical will change its name to VGX Pharmaceuticals.
“Inovio Biomedical in collaboration with our research partners has successfully demonstrated safety, tolerability, and immunological and clinical responses from electroporation-delivered DNA vaccines in humans,” states Avtar Dhillon, M.D., president and CEO of Inovio Biomedical. “While we are pleased with our accomplishments and opportunities, we also believe the best path to maximizing value for our stockholders requires us to develop proprietary DNA vaccines. To that end, merging with VGX Pharmaceuticals immediately adds a broad pipeline of DNA vaccine candidates and a team of internationally recognized scientists with strong DNA vaccine expertise, which we believe will provide the combined company with the capability to rapidly advance DNA vaccine candidates into the clinic.”
VGX Pharmaceuticals’ is developing DNA vaccine candidates against cancers and infectious diseases. The company reports that it has a wholly owned agent for HIV and one partly owned Phase I candidate for HCV. It also has IND applications for cervical cancer and avian influenza.
The combined company’s headquarters are anticipated to be located in Blue Bell, PA, along with its DNA vaccine R&D efforts. The San Diego facility will continue to focus on electroporation R&D and engineering. In addition, the new entity will continue existing research operations in Oslo and The Woodlands, TX.
